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Green Hydrogen Systems has announced that it will undertake substantial job cuts as it undergoes an administrator-led restructuring.
The Danish electrolyser maker entered a restructuring process on March 10 after filing for insolvency after efforts to secure additional financing collapsed.
The District Court of Kolding appointed an administrator to explore whether the alkaline electrolyser manufacturer could continue operations, including the sale of part or all of the business’ assets.
Today (March 19) Green Hydrogen Systems said it would start the process of a “substantial reduction” in its workforce.
Equity is supporting members in challenging the liquidation of events company Sneaky Experience, which recently shut down despite owing thousands of pounds to performers, businesses and members of the public.
Curious Yellow Events Ltd, operating under the name Sneaky Experience, wrote to creditors last Friday notifying them of an intention to close the company. Andrew Benfield is listed as the sole Director of Curious Yellow Events Ltd, but the performers’ contracts were all signed by Julia Benfield.
The liquidators to be appointed, Dave Clark and Phil Clark, wrote to the more than 300 creditors owed by the Benfields last Friday.
The liquidators have admitted that they are still undertaking work on behalf of Julia Benfield in…
LONDON: The United Kingdom government has formally listed Hassan Nawaz, son of PML-N President and former Prime Minister Nawaz Sharif, as a ‘tax defaulter’, after he reportedly failed to pay £9.4 million in dues.
According to updated records on the UK government’s official website, Hassan Nawaz accrued the unpaid taxes between April 5, 2015, and April 6, 2016. In addition to the outstanding amount, UK tax authorities have imposed a further £5.2 million penalty on him.
Legal analysts point out that while Hassan Nawaz was declared bankrupt a few months ago, UK laws on tax fraud prevent such liabilities from being written off through bankruptcy. Authorities retain the right to pursue recovery of the full amount, including…
A college student’s Reddit post has sparked outrage after she shared that her parents asked her to use her college fund to help pay off their debts.
In the post, the woman, posting under u/yosuw, wrote that the money, originally set aside by her grandparents for her education, was suddenly seen by her parents as a way out of their financial troubles. The student’s decision to refuse has left her facing backlash from her parents and questioning her role in the family. Newsweek spoke to licensed therapist Jillian Amodio about how the original poster (OP) can navigate the difficult situation.
In the post, the OP began with an explanation of her situation. “I just started college this year. Ever since I was little, my grandparents set up a…
New figures this week from the Australian Securities and Investments Commission show the pace of construction insolvency growth in the southern state overtook Queensland in December. In the months since, it has kept up the fastest pace of growth of the three largest states.
The latest insolvency statistics from the Government, released earlier this week, showed liquidations in the accommodation and food service industry fell 7% in the 12-months to January 2025, from 3,747 in January 2024 to 3,474.
However, insolvencies in the sector increased 21% month-on-month, from 225 in December 2024 to 273 in January, and were up 3% when compared to the same month last year (265).
While experts commented the annual numbers were “not as bad as feared”, the overall data suggested “resilience” could be slipping.
Period of uncertainty
RSM UK head of leisure and hospitality Saxon Moseley said: “Hospitality trade at the start of the year was particularly tough, so the rise in insolvencies in January was expected,…
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TORONTO — Hudson’s Bay’s signature blankets and other striped merchandise are flying off the shelves as Canadians scramble to pick up a piece of the storied retailer seeking permission to liquidate.
Shoppers at the company’s Toronto flagship store Wednesday before the lunch rush, hunted for any product bearing the brand’s distinctive markings that were left on the Queen Street West location’s floor.
Many wound up empty-handed after asking staff for any remaining product, rifling through store drawers and even searching under beds.
Shopper Brian Bursten was among the lucky ones. The Toronto man headed to the store after his nephew requested he scoop up anything with stripes. He snagged a striped pillow another woman had…
