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Semiconductor producer BelGaN has filed for bankruptcy. The company, based in Oudenaarde, East Flanders, employs 440 people.BelGaN switched its production
FILE-Cars sit in the parking lot outside a Joann store in Davenport, Iowa. (Daniel Acker/Bloomberg via Getty Images)
Joann, the crafts and fabrics chain, has filed for bankruptcy a second time in less than a year.
The Ohio-based company first filed for bankruptcy in March 2024 and became a private company a month later to keep its U.S. stores.
Why is Joann filing for bankruptcy again?
Joann is searching for a buyer to rescue the company from liquidation.
Court documents obtained by Bloomberg show that under a proposed deal with lenders who are owed over $450 million, Joann would be required to hold an auction within 30 days or risk losing its access to money being held as collateral.
More Aussies are calling for help over their finances, with mortgages the number one concern.
Australia is grappling with a mortgage-led surge in cries for help to the National Debt Helpline.
Almost 170,000 people called the service or used its online chat in 2024, up by close to 19,000 (12 per cent) from the year prior — with some of the highest volumes on record in Victoria and the ACT.
Most other states have also recorded spikes as homeowners continue to grapple with interest rates at their highest level since 2011, with only South Australia’s figures declining.
In the case of award-winning actress Cush Jumbo, 39, it certainly is. And a bankruptcy threat looms.
The acclaimed performer, who last year appeared as Lady Macbeth alongside David Tennant’s Macbeth in London’s West End, was the subject of a bankruptcy hearing at London’s High Court yesterday.
And it seemed the so-called Scottish play’s famous curse was in operation in November when both stars fell ill simultaneously, leading to three cancellations – shortly before it was revealed HMRC had filed…
Confession: I’ve long loved the lexicon of a dice game happening on a street corner or in the basement of an after-hours spot or in the parking lot of a strip club or, an eon ago, in the halls of my high school: “Fever in the funkhouse, and I’m looking for a fin . . . Nina Ross the new boss . . . Box cars . . . Lil Joe out the back door . . . Six, eight running mates. Seven come eleven . . . Aces . . . Snake eyes . . . Mama need clothes. Baby need new shoes . . . Taking all side bets . . . Bet it back.”
Have also loved the sound of dice knocking in a fist, a dude blowing on them for luck with high flair, the pop of the finger snap that stressed each roll.
Infamous Swim has secured backing of approximately $1 million through a group of entrepreneurs from the tech, e-commerce, fashion and communications sectors, with the founder of the original mummy-and-me swimwear brand confirming the label has been restructured and is now operating in a new company structure with new directors.
It comes after the swimwear brand went through voluntary administration earlier this year, but came out the other side.
Founder Gemma Crowe told SmartCompany that although she and the investors are all stakeholders in the new operation, she remains the CEO of Infamous Swim and will continue to lead the business as before.
Coming on board as external investors are tech CEO Alex Macpherson, startup investor Brad…
Hundreds of workers have lost their jobs after regional carrier Rex Airlines was placed into voluntary administration. While regional routes will continue to operate, flights between major cities have been axed and it’s expected more than 600 employees will be made redundant.
Her situation left her relying on her daughter for even basic necessities like food.
Sue Johnson, 75, found herself in severe financial difficulty after her divorce in March 2003.
Despite moving out of her marital home, she was still obligated to pay £400 towards the shared mortgage with her ex-husband while also covering the rent for her new flat.
This financial burden intensified when she purchased a new flat, leaving her responsible for two mortgages—the second costing £450 a month.
Working as a librarian, Sue earned £1,200 after tax, which was quickly drained by the dual mortgage payments.
This left her with almost nothing for essential expenses. Unable to afford her weekly food shop, Sue had to rely on…
Semiconductor producer BelGaN has filed for bankruptcy. The company, based in Oudenaarde, East Flanders, employs 440 people.
BelGaN switched its production from traditional silicon chips to gallium nitride chips, which can be used in electric chargers, electric cars and data centres.
“To finance the significant investments associated with this transition process, after the initial investment by shareholders, additional investments were sought. Several avenues were pursued in the process, unfortunately without success,” the company said in a press release.
BelGaN employs 440 staff. The management says it will look for solutions to support itsemployees.
“The management has convened a special works council and the staff have just been…
Three Russian companies founded by Alexander Lyskovsky, including LLC “Gorodskie Teplytsy,” LLC “Gorodskie Teplytsy Moskva,” and LLC “Vertikalnye Fermy,” have announced plans to file for bankruptcy. According to investor Mikhail Taver, Lyskovsky failed to fulfill his duties as CEO and refused to follow investors’ recommendations, contributing to the crisis.
The Federal Resource for Insolvency indicates LLC “MTS II” as the creditor for “Gorodskie Teplytsy,” while the tax authorities in Moscow and Novosibirsk regions are creditors for the other entities. All three companies, solely owned by Lyskovsky, entered liquidation…
Previously, Tupperware’s US headquarters had made no comment about the company’s Belgian sites. At the end of last year, the licences to manufacture and sell Tupperware products were withdrawn from the company’s Aalst (East Flanders) factory. This meant that the factory could no longer operate. However, management at Tupperware Belgium was given no further information by Tupperware in the US about the company’s plans for Aalst.
At a recent Works Council meeting Tupperware’s Belgian management suggested that the company should declare itself bankrupt. However, it was not clear how this could be done without the agreement of the parent company in the United States.
The parent company has since given the go-ahead for the…
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