Shopko announced on Wednesday, January 16, 2019, that it has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Chapter 11 allows a company to restructure its finances under court supervision. In a release announcing the filing, Shopko said the restructuring is necessary because of excess debt and ongoing competitive pressures. The company…
GREEN BAY, Wis., Jan. 16, 2019 /PRNewswire/ –Shopko (“the Company”), a leading operator of general merchandise stores throughout the Central, Western and Pacific Northwest regions of the U.S., today announced that it, along with its subsidiaries, has filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code. The…
NEW YORK–(BUSINESS WIRE)–Aegean Marine Petroleum Network Inc. (NYSE:ANW) (Aegean or the Company) announced that the U.S. Bankruptcy Court for the Southern District of New York (the Court) has approved its revised final motion related to $535 million in aggregate Debtor-in-Possession financing (the DIP Facility) from Mercuria Energy Group Limited (Mercuria), one of the worlds largest…
Pearson said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have moved away from new…
(Reuters) – Pearson Plc (PSON.L) said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. FILE PHOTO: The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017.…
(Reuters) – Pearson Plc <PSON.L> said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have…
The Reserve Bank of Indias (RBI) restructuring scheme for loans to micro, small and medium enterprises (MSME) loans up to Rs 25 crore has been hailed as a welcome breather, but a deeper malaise may be lurking. A former chief executive of a state-run bank (and now a director on…
Blackbaud, a Daniel Island-based software firm with global customers, laid off some of its staff last week. The company said it had to eliminate positions within the company in order to shift resources from one area of the business to another as it invests in sales, research and development and cybersecurity, to name a few…
Former boss Rob Shand stepped down in April to be succeeded by Kim Morison, who was head of real assets and is now acting head of the business. Blue Sky disclosed for the first time that of the almost $100 million that it raised following its half-year results at $11.50 a share, $40 million went…
At the meeting of NMGs board of directors last Friday, Shine was appointed chairman of the groups executive committee and also vice chairman of the board of directors with immediate effect. Shine said a part of the new investments on the digital TV business would be for upgrading its news production studio and the…