Insolvency Guardian Media Centre
(Reuters) – Pearson Plc (PSON.L) said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content.
FILE PHOTO: The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017. REUTERS/Neil Hall/File Photo
The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have moved away from new textbooks for second-hand copies and digital learning materials.
After a few tumultuous years, Pearson had pinned its restructuring hopes on the business, calling it last year the single biggest opportunity to gain share through its digital transformation. …
Read the full article at: https://www.reuters.com/article/us-pearson-outlook/pearson-shares-down-as-core-us-business-revenue-stumbles-idUSKCN1PA187
(Reuters) – Pearson Plc <PSON.L> said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content.
The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have moved away from new textbooks for second-hand copies and digital learning materials.
After a few tumultuous years, Pearson had pinned its restructuring hopes on the business, calling it last year the “single biggest opportunity” to gain share through its digital transformation.
But now, Pearson forecast U.S. HECW revenue, which accounts for less than 25 percent of total company revenue, to be flat to down as m…
Read the full article at: https://www.euronews.com/2019/01/16/pearson-sees-cost-cuts-bearing-fruit-as-digital-push-advances
A Birmingham-based debt advisory firm has been bought out by personal insolvency provider Creditfix.
B2C Finance, which trades as Back2Credit, is based near Sutton Coldfield.
Glasgow-based Creditfix, which specialises in helping people manage personal debt, said the undisclosed deal would help it create 20 new jobs.
Chief executive Paul Mason said: “We know it can be difficult to discuss your debt problems with anyone, even loved ones, but recently we have seen a significant increase in the number of people looking for help.
“While we have been able to support over many thousands of people from our offices in Glasgow and Manchester, there are still more who need help in every corner of the UK.
“This acquisition is a great opp…
Read the full article at: https://www.birminghampost.co.uk/business/finance/buyout-deal-birmingham-debt-firm-15678970
Maines legislative committees will begin meetings with more than 2,000 bills to review. Many of this sessions bills seek to support students and relieve some of the burden of student loan debt by providing tax credits, repayment, or refinancing assistance.
Building a bridge from our graduates to our workforce will ensure a strong future for Maine. Economic development may stall without a robust student debt relief package that will encourage graduates to stay and work here.
The November 2018 voter approval of Questions 4 and 5 demonstrated Mainers understanding of the importance of attracting and retaining workers to strengthen Maines economy. These two bond issues focus on improving and modernizing the facilities of Mai…
Read the full article at: https://bangordailynews.com/2019/01/15/opinion/contributors/maine-lawmakers-must-again-consider-student-debt-relief/
Menswear chain Ed Harry has been placed into voluntary administration following a particularly tough Christmas sales period.
KPMGs Brendan Richards and Gayle Dickerson were appointed voluntary administrators of the business on Tuesday and will immediately embark on a clearance sale of existing merchandise.
Its understood all 87 stores across Australia will operate as normal while administrators explore all possible options, including a trade sale.
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Like many other Australian retailers, after a strong period of growth, it [Ed Harry] has faced a challenging environment over the past 12 months and a particularly tough Christmas sales period,KPMG partner Brendan Richards said.
It has also become c…
Read the full article at: http://www.mygc.com.au/menswear-retailer-ed-harry-placed-into-voluntary-administration/
The Lanco Infratech counsel made a similar point as part of argument during the hearings to determine whether the corporate debtor should be admitted for proceedings under IBC.By Mitali Salian
Lanco Infratech, the flagship company of the Lanco Group and once among the larger private players in the field of power and infrastructure engineering, procurement and construction (EPC), was posted for liquidation by the Hyderabad bench of the National Company Law Tribunal (NCLT) on August 27 last year, a little over a year after the corporate insolvency resolution process (CIRP) was initiated on an application by IDBI Bank. However, the liquidation of Lanco Infratech would come as no surprise to anyone who has been tracking the fate of EPC compan…
Read the full article at: https://www.financialexpress.com/industry/lanco-infratech-liquidation-bankrupt-epc-firms-under-ibc-feel-heat/1444931/
A long queue of people waiting to get into Yaohan Katong on the second day of its opening on Aug 28, 1977. The Japanese department store company opened at Plaza Singapura in 1974. In 1997, its parent company in Japan was declared insolvent.
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Read the full article at: https://www.straitstimes.com/singapore/fading-fortunes
Gymboree is expected to close all of its remaining stores, including 13 in metro Atlanta, as part of a new bankruptcy filing, according to media reports.
READ | All metro Atlanta Pollo Tropical locations have closed
The company previously declared bankruptcy in 2017, closing 450 stores, including locations in Atlanta, Kennesaw and Duluth. The metro Atlanta locations now believed to be on the chopping block are:
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Lenox Square, 3393 Peachtree Rd. NE, No. 4060, Atlanta
Perimeter Mall, 4400 Ashford-Dunwood Rd, Space 1610, Atlanta
The Avenue East Cobb, 4475 Roswell Rd., Suite…
Read the full article at: https://www.ajc.com/news/local/gymboree-expected-close-all-metro-atlanta-stores-file-for-bankruptcy/lyckUHtWD1xvBMno1LZv8O/
The Reserve Bank of Indias (RBI) restructuring scheme for loans to micro, small and medium enterprises (MSME) loans up to Rs 25 crore has been hailed as a welcome breather, but a deeper malaise may be lurking.
A former chief executive of a state-run bank (and now a director on the board of a private bank) feels the stress is much higher than what has been reported. It could be at 21-22 per cent of MSME loans. These levels will not be reflected in reported numbers due to restructuring. Had the debt recast not come through, MSMEs woes would have become a major issue at the time of elections. For plenty of units still continue to reel under the adverse effects of demonetisation and the t…
Read the full article at: https://www.business-standard.com/article/economy-policy/msmes-beyond-the-credit-and-debit-119011501226_1.html
Derry Credit Union (DCU) President Alfie Bradley has urged people to tackle expensive credit card debt with a debt consolidation loan.
He advised that the post-Christmas period often left people struggling with credit card debt but maintained that help was available.
If you oversp…
Read the full article at: https://www.derryjournal.com/news/debt-consolidation-a-way-to-tackle-christmas-credit-card-hangovers-says-derry-credit-union-president-1-8768688
PUBLISHED: 07:20 15 January 2019 | UPDATED: 07:26 15 January 2019
Marcus Bent in action for Ipswich Town against FK Sartid in the Uefa Cup. The former Town star has been declared bankrupt Picture: JAMES FLETCHER
Former Ipswich Town striker Marcus Bent has been declared bankrupt in the High Court.
…
Read the full article at: https://www.sudburymercury.co.uk/news/former-ipswich-town-striker-forced-to-declare-bankruptcy-1-5851684
A bankruptcy official pursuing dealings over a Dublin 4 house once bought by businessman Sean Dunne will have to allow a company to inspect some documents as part of its defence to High Court proceedings over the property, a judge ruled.
However, official assignee in bankruptcy Chris Lehane is entitled to maintain a claim of privilege over certain other documents among the 288 sought by Cypriot-registered Yesreb Holdings, Mr Justice Robert Haughton said.
Yesreb acquired the house called Walford on the Shrewsbury Ro…
Read the full article at: https://www.irishtimes.com/business/commercial-property/sean-dunne-bankruptcy-official-must-share-walford-documents-1.3758929