Insolvency Guardian Media Centre
Further to its announcement on 27 October 2025, Petrofac (“Petrofac” or “the Group”) provides the following update.
As previously announced, Petrofac’s Executive Management is working alongside administrators of the Group’s ultimate holding company, Petrofac Limited (in administration), to preserve value, operational capability and ongoing delivery across the Group’s operating and trading entities. This includes M&A solutions with respect to Petrofac’s main operating divisions.
Petrofac International Limited (“PIL”), a subsidiary of Petrofac Limited (in administration), will shortly make an application to the Royal Court of Jersey seeking a letter of request under section 426 of the Insolvency Act 1986. The…
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A BELOVED furniture chain has begun liquidation sales after its parent company filed for bankruptcy.
The parent company, American Signature Inc. (ASI), confirmed the stores and websites will remain open to shoppers during the bankruptcy.
ASI, which operates furniture stores Value City Furniture and American Signature Furniture, filed for Chapter 11 bankruptcy, the company announced Sunday.
ASI operates over 120 stores in the U.S., 28 of which are Value City…
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Food redistribution platform, Yume Food Australia, has gone into liquidation after a decade of work reducing food waste – in partnership with companies including Sodexo, Unilever, Kellogg’s, Suez, and SecondBite.
Since it was founded in 2015, Yume has returned $30 million to Australian businesses and manufacturers and redistributed 11.5 million kilograms of quality food, avoiding 44 million kilograms of CO2 emissions and saving 2.5 billion litres of embedded water by reducing food waste.
Source: Yume
The company operated as a digital trading platform, enabling major food manufacturers to sell surplus products, and generating additional revenue whilst reducing food disposal, and…
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The Munich-based e-bike startup Sushi Bikes Sushi Mobility GmbH, the company behind the Sushi Bikes brand, faces an uncertain future. According to a ruling by the Munich District Court on November 14, 2025, preliminary insolvency proceedings have been initiated for Sushi Mobility GmbH. This means the company can only dispose of its assets with the administrator’s approval. The proceedings are designed to secure the company’s assets and assess its financial situation. A final decision regarding the company’s future is pending. Opening of insolvency proceedings However, this is still practically pending.
founder Andy Weinzierl confirmed to Munich Startup:
“We are currently examining the possibilities of a renovation.”
The…
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One of the UK’s largest metals firms has filed for compulsory liquidation facebook.com
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South Indian Bank (SIB) has announced the launch of SIB Power CONSOL, a new loan offering. It is designed to help customers manage multiple debts more efficiently through a single EMI payment.
The product targets salaried customers, Self-Employed Professionals and Self-Employed Non-Professionals aged between 30 and 55. Its aim is to simplify repayment and reduce the financial burden of managing multiple loans at once.
What is SIB Power CONSOL?
SIB Power CONSOL allows customers to consolidate various debts, including home loans, car loans, education loans, personal loans and consumer durable loans, into a single loan. This new loan offers a lower interest rate and a unified EMI. By doing this, SIB acts as a Debt Counsellor, providing a…
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Several entrepreneurs report abuses by insolvency administrators ipn.md
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The Trump administration has reached a new agreement with the American Federation of Teachers (AFT) that could unlock long-awaited student loan relief for millions of borrowers.
The agreement allows the Department of Education to resume processing forgiveness for borrowers enrolled in Income-Contingent Repayment (IDR), Pay As You Earn (PAYE) and the Public Service Loan Forgiveness (PSLF) programs — especially those who’ve been chipping away at their loans for more than two decades. These programs will remain in place until 2028, when they’re expected to be phased…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
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A winding-up order has been made against Unimetals Recycling (UK) Ltd on 25 November 2025.
The Official Receiver will wind-down the company in accordance with her statutory duties. The Official Receiver will also inquire into the cause of the company’s failure and conduct of the current and former directors.
Information for employees
If you are currently in possession of company property, including motor vehicles, IT equipment or similar, please contact the Official Receiver via email:
[email protected] subject title: ‘URGENT Company Property’. and include a description of the company property in your possession, its location and a contact telephone…