“Directors have determined that it is advisable and in the best interests of the Company that the Company file, or cause to be filed, a Voluntary Petition commencing the Chapter 11 Case,” the bankruptcy filing says. Remington had announced it would file for bankruptcy in February, just two days before a shooting at a Parkland,…
Mon, Mar 26, 2018 – 9:23 AM NOBLE Group Limited said its board of directors believe the proposed restructuring will result in a “fair and equitable treatment of all shareholders”. It is referring to the restructuring support agreement (RSA), whose “primary restructuring” proposal requires a simple majority of the existing shareholders. Under the RSA, if…
It is a company that dates back to Britains industrial revolution: an ironworks in south Wales that started in 1759 and supplied the tracks for Brunels Great Western Railway. It has become, as GKN, a global engineering giant supplying car and aerospace parts, employing 60,000 around the world and 6,000 in the UK. But now…
But pop cares little for legend. Gibson says sales are strong, but guitars don’t have the mystique they did in King’s day. Big dogs “We have a younger generation coming in with tastes toward a different type of music,” said Al Di Meola, a Grammy-winning jazz guitarist. Juszkiewicz tried diversification. He bought a line of…
Richard Elman, the 77-year-old founder and largest shareholder of Noble Group Ltd., quit due to “differences of opinion” with the firms board and creditors over its future, in a fresh blow to the trading houses attempts to push through a massive debt restructuring. The statement Friday came less than two hours after a regulatory filing…
Prezzo restaurant group to close 94 outlets 23 March 2018 comments Image copyright Getty Images Creditors of restaurant group Prezzo have backed a restructuring plan that will see it close 94 outlets – about a third of the chain. It is estimated the move could lead to 500 job losses. The chain, which is owned…
Ascension is restructuring as it pursues a new strategic direction, hinting at transitioning from a hospital-oriented system to one that’s focused on outpatient care and telemedicine. That’s what the largest Catholic health system told its 165,000 employees early Friday morning via a video featuring Ascension President and CEO Anthony Tersigni that Modern Healthcare has exclusively…
Image copyright Getty Images Creditors of Italian restaurant business Prezzo have backed a restructuring plan that will see it close 94 outlets – about a third of the chain. It is estimated the move could lead to 500 job losses. The chain, which is owned by private equity firm TPG Capital, employs about 4,500 people.…
Here are seven small-cap stocks that fund managers rated in the latest reporting season: 1. NEXTDC The data-centre operator thumped market expectations with its interim result and upgraded its full-year guidance for revenue and underlying earnings in 2017-18. Strong demand for data centres and higher-than-expected utilisation rates drove the result. NEXTDC shares leapt 15 per…
SINGAPORE — Listed commodity trader Noble Group, once an industry leader in Asia, is facing an uncertain future as its restructuring process comes under threat after it missed bond repayments. On Thursday morning, Noble halted trading of its shares. In a statement on the Singapore Exchange, the company said that it had defaulted on its debts. Noble,…