How are businesses in the U.K. faring as Brexit looms? Not well, if a boom in insolvency and restructuring advice and the level of unpaid tax bills are any guide. Members of the trade body R3, which represents restructuring advisors, are anecdotally reporting increasing demand for help and advice from businesses and individuals, according to…
IKEA US President Lars Petersson is set to retire at the end of August 2019. Javier Quiones, the retail manager of the chains UK and Ireland divisions, will take his place. Petersson worked at IKEA for 36 years and will remain with the company through the summer as a senior advisor. IKEA US President Lars…
When is BTs earnings date? BT Group will report third quarter (Q3) results on Thursday 31 January. This will cover the three months to the end of December 2018. Who is BT Groups new chief executive Philip Jansen? The results mark the end of Gavin Pattersons two year tenure as CEO of BT as he…
Kerala Governor P Sathasivam Friday came down on the Union government for “penalising” the state for its achievements in various fields and sought a restructuring of Centre-state relations. Delivering his customary policy address in the state Assembly marking the beginning of its 14th session, he said the restructuring should be in such a way…
The struggling clothing retailer New Look may be forced to put itself up for sale in order to complete a rescue refinance. New Look, which has 500 stores, will hand bondholders up to 92% of the company in return for reducing its 1.35bn debt pile to about 500m. The company closed 85 stores last year…
A new analysis of surveys among clients on track record / engagement satisfaction and management consultants on reputation has identified Brazils top consulting firms for restructuring and turnaround services. Companies in Brazil facing financial and operational difficulties, including rapidly deteriorating commercial performance, liquidity concerns, loss of key management / clients or refinancing risk, can according…
The RSA will enable the Company to emerge as a fully integrated Independent Power Producer focused on maximizing the operating and financial synergies of its retail, nuclear and fossil generating assets. The Company will continue operating its nuclear and fossil generation until their previously announced deactivation dates, with a possibility of running the units for…
Amlak Finance, a Dubai-based Sharia-complaint home financier, initiated talks with creditors to restructure debt, which the company restructured previously. The company had restructured its Dh10.2 billion investment deposits and settled Dh2.8bn in cash with financiers in 2014 and subsequently revised the terms of the 12-year restructuring deal in 2016, the company said in a statement…
The iHeart Media headquarters is shown Thursday, March 15, 2018, in Phoenix. AP Photo/Matt York iHeartMedia on Monday announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed the Companys Plan of Reorganization. The Company expects to complete its restructuring process in the first half of 2019. Under the terms…
HOUSTON, Jan. 22, 2019 /PRNewswire/ –Gastar Exploration Inc. (OTCQB: GSTC) (the “Company” or “Gastar“) announced today that the conditions to effectiveness of its Chapter 11 Plan of Reorganization (as modified) (the “Plan“), which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on December 20, 2018, have been satisfied and…