By PRIYA VASU AIRASIA X Bhd (AAX) has revised its corporate exercise to reduce its issued share capital by 99.9% from 90% proposed earlier. In a statement yesterday, the cash-strapped carrier stated that this comprised a reduction of the issued share capital of RM1.53 billion to RM1.53 million. The credit arising from the proposed share…
Busier times. File photo of Stockmann department store in downtown Helsinki February 1, 2017. Image: Yle News / Mark B. Odom Struggling retailer Stockmann Group is to sell off its flagship department store in Helsinki as well as other properties, the firm announced on Monday as it revealed its restructuring strategy. The firm said it…
Prime Minister Suga Yoshihide has stated that there are too many regional banks, which has sparked discussion of their restructuring. Restructuring, however, is a means to an end, not an objective in itself. The prime minister has yet to explain what the objective should be. Regional Companies Face a Mountain of Issues Prime Minister Suga…
A little less than a month after Pfizer’s Upjohn unit and Mylan successfully merged to create generics business Viatris, the company is already looking at ways to slash costs. Newly mintedViatris Friday laid out detailed plans for a global manufacturinginitiative that could put thousands of jobs on the line. By 2024 at the latest, the…
The federal government has passed legislation to simplify the liquidation and winding up processes for small businesses. The parliament passed reforms to the Corporations Act 2001 and the Bankruptcy Act 1966 to establish a debt restructuring process for eligible small businesses and provide temporary relief for those seeking to enter the process, as well as…
BDO USA announced that Brent Worthy recently joined the firms Business Restructuring and Turnaround Services practice, with a primary focus on covering the Southwest regional markets. Worthy, a seasoned leader in the management consulting space, has more than 15 years of experience creating and preserving value for organizations through corporate restructuring, M&A strategy and execution,…
Metso Outotec says it is reorganising its Metals business as part of an earlier announced turnaround program. The target is to create an operational model for Metals capital and services that suits the scale and nature of the business today and meets the specific demands of the Metals refining segment customer base, it said. Jari…
Focus Resources on the Development of Crazy Sports Proposes a Name Change to Reflect its Leading Position in Internet Sports HONG KONG, Dec. 8, 2020 /PRNewswire/ — V1 Group Limited, (“V1 Group” or the “Company“, together with its subsidiaries, the “Group“; stock code: 00082.HK) today announced a business restructuring plan which will make explicitly Crazy…
By Wayne Robinson | 8 December 2020 Creditors at print giant Ovato have unanimously agreed to support the companys restructuring plan, which will see unsecured creditors take a 50 per cent haircut on outstanding invoices, the company closing its Victoria print operation, and receiving a $40m cash injection. Unanimous approval: Michael Hann and Kevin Slaven…
Shadow Minister for Employment, Industry and Small Business Brendan O’Connor. Source: AAP Image/James Ross. The pandemic has hit small businesses hard, with many about to go to the wall. At the end of this month an avalanche of insolvencies is predicted after a regulatory freeze on bankruptcies expires. To counter this, the Treasurer and Assistant…