A former kickboxing champion who claims she was left with a property debt by her bankrupt ex-boyfriend has been left furious after he po…
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Topshop tycoon Sir Philip Green plans to close 23 stores, putting 520 jobs under threat, as part of a rescue plan.
Under the proposal, Burton, Dorothy Perkins and Topshop stores will close and rents will be cut at another 194 stores at the Arcadia group.
It is another blow to the tycoon, who this month lost his Sunday Times Rich List billionaire status.
Ian Grabiner, chief executive of Arcadia Group, called the steps “tough but necessary” to mend the business.
The company also plans to shut all its 11 Topshop and Topman stores in the US.
Competition online
The closures would add to the 200 UK stores shut …
Read the full article at: https://www.bbc.com/news/business-48367379
There are a number of people trying to understand what credit card churning is and that is why National Debt Relief aims to help consumers by explaining what this process is. The article titled “What Is Credit Card Churning And Should I Try It?” released May 1, 2019, aims to give people a better understanding what the process is and if it can help manage their finances better.
MIAMI, May 22, 2019 /PRNewswire-PRWeb/ –There are a number of people who are trying to understand what credit card churning is and that is why National Debt Relief aims to help consumers by explaining what this process is. The article titled “What Is Credit Card Churning And Should I Try It?” released May 1, 2019, aims to give people a better understanding what the…
Read the full article at: https://finance.yahoo.com/news/credit-card-churning-explained-national-160000191.html
(Reuters) – The collapse of British Steel has once again put private equity owner Greybull Capital in the spotlight for the wrong reasons.
Run out of London by Frenchman Marc Meyohas using family money, Greybull is well known for buying up companies in distress on the cheap with the aim of turning them around.
But Greybulls record since it launched in April 2010 has been patchy, with four of the 10 companies it bought later declared insolvent or placed into administration.
Greybulls website says it is passionate about making companies successful, yet British Steel is the second time in two years an investment has soured at the likely cost of thousands of UK jobs and a hefty bill for the British taxpayer.
In 2017, another Greybull company…
Read the full article at: https://www.reuters.com/article/us-britain-steel-greybull-factbox-idUSKCN1SS20V
British Steel has collapsed, putting more than 4,000 jobs directly at risk and threatening a further 20,000 in the companys supply chain.
The company has been put into compulsory liquidationafter talks broke down between the government and British Steels private equity owners Greybull Capital.
…
Read the full article at: https://www.independent.co.uk/news/business/news/british-steel-collapse-insolvency-administration-job-losses-scunthorpe-a8924821.html
ENGLEWOOD, Colo., May 21, 2019 (GLOBE NEWSWIRE) — Ascent Capital Group, Inc. (Ascent) (NASDAQ: ASCMA) today announced that its wholly owned subsidiary Monitronics International, Inc. (Monitronics or the Company) has entered into a Restructuring Support Agreement (the Support Agreement) with its largest creditors that will eliminate approximately $885 million in debt.
Under the terms of the Support Agreement, up to approximately $685 million of debt will be converted to equity, including up to approximately $585 million of the Companys 9.125% Senior Notes due in 2020 and $100 million of the Companys term loans. The Company will also receive an additional $200 million in cash from the Companys noteholders through an equity rights offering …
Read the full article at: https://www.apnews.com/Globe Newswire/6cfbbf883038832b7e84217ecb54ef0a
This is to inform you that the 16th Meeting of Committee of Creditors (CoC) was held on 15th May, 2019.
In the meeting, the revised bids submitted by the Resolution applicants were placed before the COC members.
After discussions on the Revised Bid and meeting with representatives of both Resolution Applicants i.e. SOM Distilleries Pvt Ltd and KALS Distilleries Pvt Ltd the COC decided to grant 4 days time to both resolution applicants for considering the issues and submit a revised Resolution Plan for the Corporate Debtor.
Next COC meeting will be held on 24th May, 2019.
Source : BSE – www.bse…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/mount-shivalik-industries-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article27208497.ece
The process seeks to cover debtors with annual income less than Rs 60,000, debt less than Rs 35,000, assets less than Rs 20,000 with no dwelling unit. The process can only be initiated by the debtor before the debt recovery tribunal through a resolution professional. If the tribunal passes an order of discharge of debt, the creditor will have to write it off, subject to an entry in the credit history of the individual.
The target group is the extremely vulnerable population that has no hope in hell of repaying the debt in some sense, its like a debt waiver, Renuka Sane, associate professor at the National Institute of Public Finance and Policy, told BloombergQuint. Sane is party of the IBBI working group on personal insolvency.
Read the full article at: https://www.bloombergquint.com/law-and-policy/ibc-how-will-the-fresh-start-route-for-small-debtors-work
LONDON (Reuters) – British Steel, the countrys second largest steel producer, has collapsed and put 25,000 jobs at risk after failing to secure emergency government funding, Britains Official Receiver said on Wednesday.
The High Court ordered the compulsory liquidation of the company, although staff will remain employed for now as the liquidator oversees the operation of the main site in Scunthorpe, northern England.
Business Minister Greg Clark said British Steel was open to new buyers, while the opposition Labour Party called on the government to bring it back into public ownership.
Owned by investment firm Greybull Capital, British Steel employs around 5,000 people, mostly in Scunthorpe, while 20,000 more depend on its supply chain.
G…
Read the full article at: https://www.reuters.com/article/us-britain-steel/british-steel-goes-into-liquidation-after-failing-to-secure-loan-idUSKCN1SS0Q1