MUMBAI: Consumer goods-to-real estate conglomerate Godrej could see a restructuring as differences have surfaced between family members over the way forward for the 122-year-old, $5-billion enterprise. Group chairman Adi Godrej and his brother Nadir Godrej are on one side while cousins Jamshyd Godrej and Smitha Godrej Crishna are on the other. A TV report said…
Bathstore will continue to trade from its 135 stores in the UK, all of which are at risk of closure, while in administration. The business has appointed BDO to attempt to find a buyer. Ryan Grant, BDO business restructuring partner, said: “Despite significant investment into the business over the past five years, Bathstore has struggled…
ATLANTA, June 25, 2019 (GLOBE NEWSWIRE) — GlassRatner Advisory & Capital Group, LLC, a leading specialty financial advisory firm and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), today announced the addition of Wayne P. Weitz and Coral M. Hansen. Mr. Weitz joins as a Principal based in New York and Ms. Hansen joins as…
Brightoil Petroleum Holdings Ltd could receive a restructuring proposal from Chinese banks in the third quarter while it sells assets to pay off debt and shifts to becoming a shipping e-commerce platform, a company official said on Friday. Brightoil suspended trading in its shares in October 2017 and has since been snagged in lawsuits brought…
MEDINA, Ohio–(BUSINESS WIRE)–RPM International Inc. (NYSE: RPM) today announced that Michael H. Sullivan has joined the company as vice president operations and chief restructuring officer effective June 24. He will report directly to RPMs chairman and CEO Frank Sullivan, with whom he has no familial relation. In this capacity, Michael Sullivan will oversee RPMs 2020…
More than 30 Monsoon and Accessorize stores could shut under the retailers restructuring proposals even though the company has stressed its plans involve no immediate closures. Monsoons proposed company voluntary arrangement, unveiled last week, envisages rent cuts of up to 65 per cent at 135 of its 258 stores. However, 36 of those will move…
* Plans to sell rest of its tankers to repay debt * To complete Zhoushan oil storage project before selling a stake * Banking on e-commerce website for shipping industry By Florence Tan SINGAPORE, June 24 (Reuters) – Brightoil Petroleum Holdings Ltd could receive a restructuring proposal from Chinese banks in the third quarter while…
Chinese regulators are moving to relax restrictions on merger and acquisition deals involving listed companies in a bid to allow them to improve businesses through asset restructuring amid slowing economic growth. The China Securities Regulatory Commission (CSRC) Thursday issued a draft revision of rules regarding listed companies asset restructuring to seek public comments until July…
June 20th, 2019 Splash 24/7 Dry Cargo, Europe, Maritime CEO, Tankers 0 comments It has taken more than six years of restructuring but finally the Ravenna-based Gestioni Armatoriali is now free of debts and ready to take new investment opportunities, both in the dry and liquid markets. Nicola Coccia, chairman of the company and former…
Citigroup C is set to merge two key divisions in its sales and trading unit foreign-exchange and rates businesses. This move will mark the first major overhaul after Paco Ybarra took position as head of institutional-clients group in April 2019. The restructuring is expected to support the bottom line as the two divisions complement each…