Category Archives: Restructuring

Worldwide Facilities Announces Organizational Restructure; Promotes Eric Stuckman and Hank Haldeman to … – PR Newswire (press release)

LOS ANGELES, Oct. 16, 2018 /PRNewswire/ — After a period of unprecedented growth, national wholesale insurance brokerage, managing general agent and program underwriter Worldwide Facilities announces an organizational restructuring. The company will reorganize into three divisions: Worldwide Brokerage, Worldwide MGA, and Worldwide Programs. The driving force for this change is the significant growth that Worldwide…

Sears Holdings Initiates Processes To Accelerate Strategic Transformation And Facilitate Financial Restructuring – PR Newswire (press release)

HOFFMAN ESTATES, Ill., Oct. 15, 2018 /PRNewswire/ — Sears Holdings Corporation (“Holdings,” “we,” “our,” or the “Company”) (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term. To facilitate these actions, the Company and certain…

Sears Holdings Initiates Processes To Accelerate Strategic Transformation And Facilitate Financial Restructuring – Markets Insider

HOFFMAN ESTATES, Ill., Oct. 15, 2018 /PRNewswire/ — Sears Holdings Corporation (“Holdings,” “we,” “our,” or the “Company”) (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term. To facilitate these actions, the Company and certain…

Once mighty US retail empire Sears on edge of bankruptcy – The West Australian

Sears, the one-time titan of American retail, is expected to file for bankruptcy early Monday morning US time ahead of a $US134 million ($190 million) debt payment. For years, Sears has contended with the threat that it would become the latest big-name retailer to fall to online competition and crushing debt. The icon once known…

Govt secures new investor for Karuruma tin refinery – The New Times

LuNa Smelter Ltdhas taken over the operations of Karuruma Tin Smelter, whose activities had stalled for a long time following the failure by the previous investor, Phoenix Metal Ltd, to run it. Luna Smelter is the parent company of Ngali Holdings and Luma Investmenta Polish-based venture firm. Fabrice Kayihura, the Acting Managing Director of the…

Hearings show running a bank is no longer about banking – The Australian Financial Review

It was the sort of day that the Commonwealth Bank chief executive Matt Comyn and Westpac boss Brian Hartzer would have liked to be holed up at head office. With global equity markets reverberating from a sell-off in the US bond market and ever-escalating trade wars, Australian shares copped the flow-on effect, with the ASX…

Ford to cut salaried jobs as the auto giant undergoes an $11 billion restructuring effort – Business Insider

In a move influenced by a company-wide restructuring effort, Ford plans to cut jobs from its global salaried workforce, which the company told Business Insider consists of about 70,000 workers. Ford officials told The Detroit News that the cuts were expected to come by the second quarter of 2019 but that they didnt know which…

Kirin to sell Lion Dairy & Drinks, receives approaches – The Australian Financial Review

Japanese brewer Kirin will attempt to recoup some of the $2 billion it has blown on Australian dairy and drinks investments over the past 11 years by selling leading brands such as KIng Island cheese, Dairy Farmers milk and Farmers Union yoghurt. Kirin has kicked off a formal sale process for its $1.8 billion Australian…

NRF helps medicinal cannabis company on ASX float – Australasian Lawyer

Norton Rose Fulbright (NRF) was the legal adviser of an Australian-founded medicinal cannabis company on its IPO and listing on the ASX. Althea Group raised $19.65m in its fully subscribed IPO, which NRF said had strong participation from institutional and professional investors from around the world. It was also supported by Toronto-listed Aphria, which is…

Restructuring may get a little easier, again – Korea JoongAng Daily

Restructuring may get a little easier, again Law that permits 75% creditor approval could come back next month Oct 09,2018 A law that allows companies to seek help in corporate restructuring with the agreement of just 75 percent of creditors will likely go back into effect as early as next month. The…