Image copyright Getty Images Burger chain Byron could close up to 20 restaurants as part of a financial rescue proposal. Accountancy firm KPMG, which is handling the restructuring, confirmed the plan, which would also involve cutting rent payments at other outlets. Any deal would need approval from Byron’s creditors, who will vote on the plan…
Arash Massoudi in London, Shannon Bond in New York and Harriet Agnew in Paris January 9, 2018 Altice NV shares climbed 10 per cent Tuesday after the struggling global telecoms and cable group unveiled a wide-ranging organisational shake-up and restructuring to allay concerns that have sent its stock tumbling in recent months. The gains came in response…
NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…
Trouble burger restaurant chain Byron has announced a financial rescue plan that could close up to 20 shops a decade after it first opened its doors. The company has launched a restructuring process known as a company voluntary arrangement (CVA) as it tries to lower its rental bill and focus on a smaller number of…
NEW YORK (Reuters) – Lenders to U.S. mid-sized businesses are increasingly concerned about the higher levels of debt held by middle market companies versus a year ago, as well as what they consider to be less restrictive leveraged loan documents, a survey by Carl Marks Advisors found. Higher leverage levels and borrower-friendly loan agreements, the…
Harriet Agnew January 9, 2018 Shares in Altice NV rose sharply on Tuesday morning following an announcement late on Monday of a wide-ranging organisational shake-up and restructuring of the struggling global telecoms group. Altices shares rose over 10 per cent in early trading as the market welcomed the news that it will spin off its…
NEW YORK–(BUSINESS WIRE)–On Jan. 1, Norton Rose Fulbright promoted 10 lawyers to partner in the United States. The new partners are: Beau Cox and Seth Isgur, commercial litigation; Sumantha Rani Sedor, corporate and life sciences; Brenda Hanzl and Becky Limmer, corporate, M&A and securities; Mina Matin, financial institutions and insurance; Eric Daucher and Ryan Manns,…
REUTERS/Mike Segar GoPro on Monday announced a big restructuring plan that’s part of its effort to become profitable this year. The action-camera maker said it will lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast. …
Pan Kwan Yuk January 8, 2018 GoPro unveiled a major restructuring of its business on Monday after the embattled action camera maker unexpectedly issued a big sales warning for the all-important holiday quarter. The company, which has been struggling with weak sales of its latest wearable camera, said it was cutting more than 254 jobs…
By January 8, 2018, 9:13 AM EST Updated on January 8, 2018, 10:40 AM EST GoPro Inc. said its cutting more than 20 percent of its global workforce and putting an end to its drone business after a disappointing fourth quarter. The company said it now expects sales of about $340 million, well short of its…