The major shareholder of ailing shipbuilder Nam Cheong has agreed to pay RM50 million (S$16 million) in cash to pare some debts, in a final bid to persuade lenders to help the firm replace debt with equity and avoid liquidation. Malaysian tycoon Tiong Su Kouk – Nam Cheong’s executive chairman – has agreed to inject…
BLOOMFIELD, Conn.–(BUSINESS WIRE)–Kaman Corporation (NYSE:KAMN) today announced a restructuring plan resulting from its ongoing effort to improve capacity utilization and operating efficiency to better position the Companys Aerosystems business for increased profitability and growth. The restructuring primarily affects the Aerospace segments Connecticut Composite Structures division in Bloomfield, Connecticut, and its fabricated products operations in Hyde,…
By Jessica DiNapoli NEW YORK, Sept 6 (Reuters) – Toys”R”Us Inc has hired law firm Kirkland & Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as bricks and mortar retail goes through a major downturn, according to a person familiar with the matter. The privately held toy retailer…
Sept 7 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times – An unusual 1.5 million pounds ($1.96 million) cash bonus for the chief executive of Aveva Group PLC for clinching the merger this…
The Financial Conduct Authority is facing pressure from the Treasury select committee of MPs to publish the report in to Royal Bank of Scotlands troubled business restructuring unit. Nicky Morgan, the Conservative MP who chairs the powerful committee, has called on the FCA to publish the report, which was completed last year, after it was…
Ruchi Soyas primary lines of business include selling packaged edible oils and soyabean chunks, oilseed extraction, edible oil refining, and wind power generation. Mumbai: The board of edible oil maker Ruchi Soya Industries Ltd has set up a committee to explore business restructuring options, the company said in a statement. Ruchi Soya is considering internal…
Philippine Airlines Inc. (PAL) is moving forward with an equity restructuring scheme that would allow the flag carrier to wipe out an old deficit and clear the way for the entry of an investor group. PAL Holdings said in a filing at the Philippine Stock Exchange that its subsidiary PAL had sought the approval of…
The mostly empty shelves of a Toys “R” Us flagship store in Times Square are seen after it closed permanently in Manhattan Thomson Reuters By Jessica DiNapoli NEW YORK (Reuters) – Toys”R”Us Inc has hired law firm Kirkland & Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as…
Gannett and USA TODAY headquarters in McLean, Va., Tuesday, May 12, 2015. [Via MerlinFTP Drop](Photo: David Cooper, USA TODAY) Gannett, owner of USA TODAY and 109 local news properties, will undergo a corporate restructuring that will result in the elimination of “less than 1%” of employees. Citing “difficult headwinds” related to print advertising as troublesome for…
Toys R Us will have its second quarter earnings call on Tuesday, September 26. Toys R Us owners Kohlberg Kravis Roberts, Bain Capital Partners and Vornado Realty Trust either declined to comment or did not immediately have a comment. Kirkland also did not immediately have a comment. The potential restructuring comes amid increased competition from…