Two South Australian building companies are facing collapse, and another is facing court action, amid ongoing pressure from the national housing downturn.
Key points:
- New home builds are declining in South Australia
- Several companies have closed and subcontractors are feeling the impact
- Masters Builders SA wants more financial incentives for property owners
Adelaide construction company Tudor Homes has gone into liquidation and JML Home Constructions, which operates the Onkaparinga GJ Gardner franchise, has closed its doors.
An application to wind up Cubic Homes, based in Kilburn, will be heard later this mo…
Read the full article at: https://www.abc.net.au/news/2019-03-13/two-more-sa-building-companies-face-collapse-amid-downturn/10894610
Investors who poured over $35 million into once-promising fashion startup Shoes of Prey are likely to be left empty-handed, with firms who invested in the business warning contributors they are not expecting any return from the liquidation process.
Shoes of Prey, a company that allowed women to order customised footwear at a cheaper price than typical bespoke shoes, entered liquidation yesterday, ending months of uncertainty about the companys future after it was put on pause in August last year.
Co-founder Michael Fox penned a blog post in light of the collapse, blaming the business downturn on its failure to crack mass-market adoption, high operational costs and ethical benchmarks for the companys shoe production.
As with our custom…
Read the full article at: https://www.smartcompany.com.au/startupsmart/news/investors-shoes-of-prey-lose-35-million/
LONDON – Infiniti Motor Co., the luxury division of Japanese automaker Nissan, says its withdrawing from Western Europe offering another blow to carmakers in the U.K. bracing for Britains departure from the European Union.
The company said Tuesday that as part of its restructuring plan, it will cease making two models, the Q30 and QX30, by mid-2019 at the manufacturing plant in Sunderland, in northern England.
Nissan canceled plans in February to build a new diesel-powered X-Trail sport utility vehicle in Sunderland. That reversed a decision announced two years ago after Prime Minister Theresa Mays government offered some 60 million pounds in incentives.
Carmakers are being forced to weigh uncertainty about possible tariffs and borde…
Read the full article at: https://www.japantimes.co.jp/news/2019/03/13/business/corporate-business/nissan-cuts-back-business-english-plant-pulling-infiniti-western-europe/
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CAMP HILL, Pa.–(BUSINESS WIRE)–Mar 12, 2019–Rite Aid Corporation (NYSE: RAD) announced today a leadership transition plan and an organizational restructuring to better align its structure with the Companys operations and to reduce costs.
As part of the leadership transition, John Standley will step down as chief executive officer. The Board will promptly commence a search process for a new CEO, and Standley will remain CEO until the appointment of his successor.
Rite Aid also announced additional management changes, each of which is effective immediately. Bryan Everett, chief operating officer of Rite Aid Stores has been promoted to chief operating officer of the Company, succeeding Kermit Crawford who is leaving the Company. Matt Schro…
Read the full article at: https://www.apnews.com/Business Wire/3ba0854ed33c4999b7da267b4cff37f0
German software maker SAP AGs restructuring plan, announced in January this year, will end up eliminating around 80 jobs in Canada.
SAP will lay off 64 employees in Ontario and 15 in Quebec, reported IT World Canada, citing unnamed sources.
Most of the jobs facing the axe are at the companys research and development (R&D) units servicing the clients using the companys ERP software.
Few more jobs may be lost in British Columbia, stated the news portal.
The German multinational is restructuring its business after many of its clients started choosing cloud software rather than on-premise applications.
The restructuring, according to SAP, will help the company save up to US$1.28 billion annually from 2020 onward.
But it will also lead to…
Read the full article at: https://www.nearshoreamericas.com/sap-eliminate-nearly-80-jobs-canada-part-restructuring/
New York Media, the parent company of New York magazine, laid off 16 full-time staffers and an additional 16 freelancers or part-time employees as the publication restructures, chief executive Pam Wasserstein said in a memo to employees on Monday.
The cuts represent about 5% of New York Medias full time staff.
It has been a difficult day here, Wasserstein wrote in the memo obtained by CNN Business, adding that the change reflects tough decisions she had made with the management team over the last several months.
Wasserstein said the teams most impacted by the cuts were the video department, audience development team, and copy and fact checking.
As part of our long-term planning process, we took a hard look at our existing st…
Read the full article at: https://kbzk.com/cnn-business-consumer/2019/03/11/new-york-magazine-lays-off-staffers-as-publication-undergoes-restructuring/
This content is a press release from our partner ACCESSWIRE. The AP newsroom and editorial departments were not involved in its creation.
BOCA RATON, FL / ACCESSWIRE / March 12, 2019 / Americans are highly indebted. If you are in debt, you are not alone. As a debtor, you need to understand that you have rights. GM Law Firm LLC Delray Beach, FL will empower you to know your rights while they work with your creditors to negotiate a debt resolution solution.
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At Reeses flat, Florence informs him he cant stop her Hope will know the truth tonight. She knows Reese came all this way to keep her quiet and its not happening. Florence rehashes Reese stealing a baby for a gambling debt. She throws her cash at him and exclaims helping him was the worst decision of her life. Every time she closes her eyes, she sees Hope with her heart ripped out. Reese insists they both know who he is hes a good man who got caught up in something he couldnt control and was trying to protect Zoe. He protests that the truth cannot get out and becomes dramatic as he re-tells how he was forced to do the hardest thing he ever had to do. Zoe cries as he apologizes he could only think of keeping her safe. Flo argues with R…
Read the full article at: https://soaps.sheknows.com/the-bold-and-the-beautiful/recaps/536779/reese-convinces-zoe-to-keep-his-secret-leaving-flo-furious/
Adam Moss departure from New York Magazine is looking well-timed.
Just a few weeks after his resignation as editor in chief after 15 years, the magazine is embarking on an internal restructuring that has claimed the jobs of 16 full-time employees, equal to 5 percent of the full-time head count, and another 16 part-time employees or contracted contributors. A spokeswoman for New York said the layoffs focused on audience development/circulation, copy editing, fact-checking, production and video.
In some cases, the changes we are making reflect a need for new focus as we build our digital subscription business; in others, they reflect an overdue integration of print and digital staffs, the spokeswoman said. The restructu…
Read the full article at: https://wwd.com/business-news/media/new-york-magazine-restructuring-cuts-dozens-of-staffers-1203082194/
The Lieutenant Governors Office has been named a receiver of the defunct Real Legacy Assurance Company, which Lt. Gov. Tregenza Roach said Monday will ensure that outstanding claims filed by local policyholders can be paid.
During a news conference on St. Thomas, Roach announced that he had been appointed by the courts as ancillary receiver of the company, which means his office has taken control of all of Real Legacys assets as it begins the liquidation process. This includes a $500,000 statutory bond a deposit required of all insurance companies licensed to do business in the territory that can be used to cover the outs…
Read the full article at: https://stjohnsource.com/2019/03/12/lieutenant-governor-aoril-18-is-deadline-to-recover-real-legacy-assurance-claims/
Three men have been declared bankrupt for failing to pay 1.6m to the victims of the 1998 Real IRA Omagh bombing.
The High Court ruling in Dublin is the first time in the world that anyone has been declared bankrupt for refusing to compensate victims of terrorism.
The three are Michael McKevitt, Liam Campbell and Colm Murphy. They have also been ordered to pay the hundreds of thousands of euros in costs for the bomb victim…
Read the full article at: https://www.newsletter.co.uk/news/omagh-bomb-trio-declared-bankrupt-in-victims-legal-action-1-8845438