Less than two years after its last insolvency proceedings, Gerry Weber International GmbH (GWI), the holding company of the Halle, Westphalia-based fashion supplier, has filed for insolvency under self-administration.

The Bielefeld District Court has already approved the application and ordered preliminary proceedings, Gerry Weber announced on Tuesday. In addition, lawyer Lucas Flöther was appointed administrator.

“Despite the profound cuts that Gerry Weber has already made in recent years, and despite the good response from the market to the fashion offering, the company has not yet built up enough resilience to financially compensate for such an accumulation of unexpected crisis factors,” said Christian Gerloff, who was…

The study, emphasising the stark correlation between debt and poor mental health, has been published to mark the start of Mental Health Awareness Week.

Researchers found that 16% of UK adults behind on household bills reported their mental health to be ‘not good at all’, compared to just 6% of adults who were not behind on bills. Those behind on bills were also almost twice as likely to have very poor physical health, with 13% reporting this, compared to just 7% those who are not behind on bills.

…

Three-quarters of Younger Veterans with Debt are Still Paying off Amounts Incurred While Serving

NEW YORK, May 12, 2025 /PRNewswire/ — National Debt Relief, the industry leader in debt settlement known for its unique approach to debt relief, today released the findings of a powerful new study revealing that many U.S. veterans face mounting debt, financial instability and emotional strain as they transition to civilian life. Conducted in partnership with Wakefield Research, the study polled 1,000 U.S. veterans ages 21 and older who are no longer in military service, offering a sobering look at the challenges faced after…

President John Mahama has given his fellow African leaders a reflection and lessons on Ghana’s journey in debt restructuring at the ongoing African Union Conference on Debt in Lome, Togo.

The three-day Lome Meeting, which is being convened by the African Union Commission’s Department for Economic Development, Tourism, Trade, Industry, and Minerals (ETTIM) is the theme: “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability.”

The conference will convene AU Member States, policymakers, financial experts, and key stakeholders, including representatives from Ministries of Finance, African central banks, regional economic communities, African…

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Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had been anticipated that the Treasurer would do so as part of the Australian Government’s Economic Update on 23 July, but an announcement was not forthcoming.

While these measures are argued to relieve the pressure on directors continuing to struggle to navigate the economic impact of the pandemic, and to enable companies to trade on, the risk is that they perpetuate…

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GAINESVILLE, Fla. (WCJB) – Archer city commissioners unanimously approved writing a letter to Alachua County leaders for help paying back debt.

They are asking the county for $253,000 in infrastructure tax dollars up front instead of over time.

That’s to pay off a $300,000 debt to the engineering and grant administration firm Kimley-Horn.

Some residents said they are skeptical of the city working with the firm.

In total, Archer has been dealing with more than $1 million in debt.

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