Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Mon, 24 Feb 2025 | ADMINISTRATION Dorchester-based Acheson Construction has collapsed into administration. The company appointed Richard Lewis and Alistair
Access Denied You don't have permission to access "http://www.business-standard.com/industry/news/insolvency-proceedings-coffee-day-resume-nclat-delay-125022400720_1.html" on this server. Reference #18.d0b42e17.1740395345.314389c3 https://errors.edgesuite.net/18.d0b42e17.1740395345.314389c3 Read the original article here
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails
Sign up to our free breaking news emails
Sign up to our free breaking news emails
About 350 jobs are expected to go across 26 stores as the Irish branch of fashion retailer New Look enters liquidation.
Impacted staff were notified after the High Court in Ireland approved the appointment of provisional liquidators last Thursday. New Look said further engagement is planned over the coming days.
The retailer is seeking to wind down its Irish operations following several years of “sustained losses and challenging market conditions”.
New Look employs a total of 347 people across its network in the Republic of Ireland.
Dorchester-based Acheson Construction has collapsed into administration. The company appointed Richard Lewis and Alistair Wardell of Grant Thornton as joint administrators on February 18.
Acheson, which has been involved in a host of local and regional building projects, had operated for more than 50 years and had another premise in Whiteley, near Fareham, Hampshire. The company ceased to trade on the appointment. It is understood that 40 of its 48 staff were made redundant as a result. According to the joint administrators, the retained staff are assisting them with winding down the company’s affairs.
Grant Thornton said that Acheson Construction had been hit by higher costs on fixed price…
The service sector was particularly affected, followed by the construction industry and trade. In trade, 1,199 insolvencies were registered, while business-related services recorded 1,091 and construction 1,062. The accommodation and food service sector was also badly affected with 827 bankruptcies. In contrast, the number of private insolvencies fell slightly by 1.0% to 9,634 proceedings.
Analysis of causes
Gerhard Weinhofer, Managing Director of Creditreform, attributes this development to several factors: “The multiple crises that have existed for years are claiming more and more victims among domestic companies.” He cites the tense economic situation in Germany, the most important trading partner, and high wage and energy…
Companies News Today Live Updates: Stay ahead of the curve with the latest insights from the corporate world through our company news coverage. This section provides a detailed look at significant events affecting industries and markets globally, including mergers, acquisitions, financial reports, and strategic shifts in leadership and operations. Whether you’re an investor, a business professional, or simply interested in the dynamics of various industries, our reports offer a deep dive into the developments that shape the economic landscape. From startups to established giants, we bring you the news that matters to help you make informed decisions in a rapidly changing business environment.
TALLAHASSEE — While Florida insurers claimed to be losing money in the wake of hurricanes Irma and Michael, their parent companies and affiliates were making billions of dollars, according to a study obtained by the Times/Herald.
The start of the state’s insurance market meltdown came on the heels of those two storms between 2017 and 2019, as companies justified big rate increases to cover their losses.
But those financial hardships don’t tell the full story, according to the 2022 study that has never been made public and was released to the Times/Herald after a two-year wait for public records.
The report, the most in-depth dive into the byzantine finances of Florida’s homeowners insurance market, reveals that as the industry was…
Embattled ed-tech firm Byju’s has a new navigator for its bankruptcy proceedings.
On Monday, the Bengaluru insolvency court approved the appointment of Shailendra Ajmera as the resolution professional (RP), replacing Pankaj Shrivastava. This follows a January order by the National Company Law Tribunal (NCLT), which questioned Shrivastava’s ability to oversee the process. The tribunal also cancelled a Committee of Creditors (CoC) reconstitution he carried out on 31 August 2024, reinstating the previous CoC formed on 21 August 2024.
The move marks a critical shift in Byju’s insolvency battle, which has pitted the company’s dissenting lenders—Glas Trust LLC and Aditya Birla Finance—against its suspended directors, including Riju…
The insolvency process against Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, has resumed as appellate tribunal NCLAT could not pass the order within the specified deadline of February 21, set by the Supreme Court.
Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.
“Since the appeal has not been disposed of until February 21, 2025, as per the instruction of the Supreme Court, the order…
You don’t have permission to access “http://www.business-standard.com/industry/news/insolvency-proceedings-coffee-day-resume-nclat-delay-125022400720_1.html” on this server.
