In a leaked video, Ikea US head apologizes for restructuring that store employees say tanked morale and pit them against each other – Business Insider

IKEA US President Lars Petersson apologised in a video announcement sent to employees on Tuesday, following reports of the furniture retailers controversial restructuring. In the video, Petersson, along with Orlando store manager Monica Bogstad, outlined a plan to boost morale. Petersson said that management didnt see the balance between business and people the way we…

Folli Follie to seek nod for restructuring plan | Kathimerini – www.ekathimerini.com

Greek jewelry maker Folli Follie will seek creditor approval for a planned overhaul of the business, it said on Tuesday, after announcing details of its restructuring following lengthy discussions with advisers. This concerned a group of unsecured creditors who represent about 27 percent of almost 250 million euros of bonds due next year, as well…

Gurit Adjusts Operating Profit Guidance for FY 2018 and Announces both Restructuring and Divestment of Composite Components Business in 2019 – NETCOMPOSITES

Gurit has announced a revaluation of its operating profit potential for fiscal year 2018. Operating profit margin for the full year 2018 is now expected to come in at 6.5-7.5 % of net sales. Based on the recent business performance with continued losses in the Composite Components business, the Company revises its operating profit guidance…

Noble set to implement rescue debt restructuring plan – Nikkei Asian Review

SINGAPORE — Commoditiestrader Noble Group is set to start implementinga long-awaited $3.5 billion debt-for-equity rescue restructuring on Wednesday, in a move that enables the scandal-hit company to avoid liquidation. The Hong Kong-based and Singapore-listed company has been forced to resort to a form ofbankruptcy protection to carry out the plan, after the Singapore Exchange and…

Australian Financial Review – The Australian Financial Review

In July, when Purplebricks reported its full-year result, Purplebricks chairman Paul Pindar said the Australian business “continued to track the UK performance at the same time in its development” and was expected to “reach monthly profitability within 12 months”. In its latest interim accounts filed to the London Stock Exchange, Purplebricks said the underlying performance…