Category Archives: Restructuring

rue21 To Reduce Debt And Focus On Best Performing Stores Through Chapter 11 Reorganization With Creditor … – PR Newswire (press release)

The restructuring is an important step forward in rue21’s ongoing business transformation into a more focused and highly performing retailer. Last month, the Company began the process of closing approximately 400 underperforming stores in its 1,179 store fleet in order to streamline operations, better align the size of its footprint with market realities, and focus…

Componenta Corporation Business Review January March 2017 – GlobeNewswire (press release)

Componenta Corporation Stock Exchange Release on 16 May 2017 at 8.00 Comparable net sales corresponding to current continued business operations increased 9% to EUR 46.3 (42.6) million and comparable adjusted EBITDA increased from the previous year to EUR 1.9 (-1.1) million. The information presented in this business review relates to the continued operations of Componenta…

Elliott Management revises BHP restructuring plan – MarketWatch

MELBOURNE, Australia–Activist investor Elliott Management Corp. refined its attack on BHP Billiton Ltd., calling for an independent review of its petroleum business and deflecting earlier criticism by proposing the company retain a main stock listing in Australia. The revised proposals still take aim at unlocking value and halting underperformance in the stock but have shifted…

Chinese economy shows firming signs amid restructuring efforts – China Daily

BEIJING – A slew of upbeat economic data pointed to latest restructuring achievements and provided fresh stabilization signs for the Chinese economy. Highly-watched economic figures released Monday, including industrial output, retail sales, fixed-asset investment and housing sales, confirmed the message that the ongoing growth model transitioning is providing new impetus to the world’s second largest…

Dubai firm GGICO aims to complete debt restructuring by June – Gulf Business News

Reuters Monday 15 May 2017 Dubai-listed conglomerate Gulf General Investment Co(GGICO) said on Monday it expected to complete a restructuring of around Dhs2.36bn ($643m) in loans by next month. The firm, which has investments spanning financial services, property, hospitality, manufacturing and retailing, previously renegotiated Dhs2.8bn in financial commitments in 2012. But the subdued local economy…

OrotonGroup shares halted pending downgrade – The Australian Financial Review

OrotonGroup’s major shareholders are under increasing pressure to privatise the upmarket accessories retailer so it can be restructured away from the glare of public markets. Fund managers have stepped up calls for the company to be taken private after its shares went into a trading halt on Monday before another profit downgrade, the second in five…

CGG: Restructuring Update – Nasdaq

Restructuring Update Paris, France – May 12, 2017 On March 3, 2017, CGG S.A (“CGG” or the “Company”) entered into a financial restructuring process with the aim of significantly reducing debt levels and related cash interest costs to align them with its cash flows. In order to facilitate such restructuring discussions held under…

BT tries to reset fortunes with restructuring plan – Financial Times

BT has attempted to draw a line under its worst performance since the turn of decade with a restructuring of its scandal-hit international arm, the loss of 4,000 jobs and a warning over the size of its dividend next year. But with an alleged accounting fraud still being investigated in Italy and questions over future…

CJ O Shopping to Close Down Sluggish Overseas Subsidiaries – BusinessKorea

CJ O Shopping engaging in the home shopping business in nine countries with 11 overseas subsidiaries is going to perform massive surgery on non-performing overseas subsidiaries. Some of them will be liquidated. CJ O Shopping was considering a restructuring of its Nanfang CJ in Guangzhou, China, CJ Mediasa in Turkey, Shop CJ in India, and…

BT to cut 4000 jobs in major restructuring plan – London Loves Business

11 May 2017 | By Chloé Western The latest BT has said it will be getting rid of 4,000 jobs across the globe as part of a new major restructuring plan. The telecoms firm is looking to simplify its Global Services operations and it said most of the posts will be going into back-office and…