Insolvency Guardian Media Centre
Sigma Healthcare shares have slumped after the pharmaceuticals supplier revealed a slump of more than 50 per cent in first-half profit to $13.4 million, partly due to restructuring costs following the loss of its contract to supply Chemist Warehouse in July.
Sigma, which owns pharmacy brands Amcal, Guardian, Discount Drug Store, and Chemist King, says net profit for the six months to July 31 fell 51.8 per cent after $6.1 million of restructuring costs.
A two per cent fall in revenue to $1.96 billion was attributed to falling sales in Hepatitis C medication, and the continued impact of the rescheduling of codeine as a prescription-only drug.
Pricing adjustments to the Pharmaceutical Benefits Scheme in February, which has generally made suppl…
Read the full article at: https://www.news.com.au/finance/business/breaking-news/sigma-hy-profit-more-than-halves-to-134m/news-story/59334cca231716c84d5dfb8a330de33f
There are two ways to find out whether a debt consolidation loan works for you: math and your own behavior.
If you have a lot of unsecured debt such as student loans or credit cards, debt repayment can take up a significant chunk of your monthly budget. In Canada, debt repayments occupy such a large chunk of the average persons monthly income, that over half of Canadians have less than $200 to spare after all of their expenses. That can quickly be eaten up as rising interest rates could cost up to another $120 per month between credit cards, student loans, lines of credit, and mortgage or car payments.
High interest payments can make repaying your debt a frustrating process. Every month, you…
Read the full article at: https://goodmenproject.com/guy-talk/will-a-debt-consolidation-loan-save-you-money/
- John Studzinski, one of the most prominent figures in global finance, is taking up a senior role at Pimco.
- Pimco, founded by the investing legend Bill Gross, is one of the worlds biggest fixed-income-focused investment companies.
- Studzinski was previously a senior figure at the private-equity giant Blackstone, and he was crucial in the restructuring of the insurer AIG during the financial crisis.
John Studzinski, one of the most prominent figures in global finance, has been appointed as the managing director of Pimco, the fixed-income-focused investment giant founded by the legendary investor Bill Gross.
Pimco announced on Wednesday that Studzinski, often known by friends as Stu…
Read the full article at: https://www.businessinsider.com.au/john-studzinski-joins-pimco-2018-9
For three days of the Sydney Test against India in 2012, Michael Clarke held court with his home crowd and a nation of cricket lovers. Millions around the country – and many more on the sub-continent – watched as the Australian captain hit an unbeaten triple century – the defining innings of his career.
It should have been a sponsor’s dream, except Clarke did not have one. His bat, which had become the most watched advertising board in the country, did not bear any sponsor’s stickers during his marathon innings.
Clarke had ordered for them to be removed as his contract was expiring.
For Kunal Sharma this was a moment to be seized and he pounced. The Wollongong-based founder of the Spartan Sports empire signed Clarke to a six-figure contra…
Read the full article at: http://www.illawarramercury.com.au/story/5629256/spartan-sports-empire-under-financial-pressure/
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution plan.The Insolvency and Bankruptcy Code (IBC) is in its second year of operation; it has, at best, been a roller-coaster ride where the application of the said law has opened loads of issues that have been noted and acted upon by the Insolvency and Bankruptcy Board of India (IBBI) and/or the government.
One of the issues that has not yet caught the attention of the government or the IBBI is the treatment of MSMEs under the resolution plan. As the law currently stands, there is no difference that has been accorded to MSMEs and other operational creditors, and as such, these operational credit…
Read the full article at: https://www.financialexpress.com/opinion/are-msmes-hampered-by-insolvency-and-bankruptcy-code/1303960/
For three days of the Sydney Test against India in 2012, Michael Clarke held court with his home crowd and a nation of cricket lovers. Millions around the country – and many more on the sub-continent – watched as the Australian captain hit an unbeaten triple century – the defining innings of his career.
It should have been a sponsor’s dream, except Clarke did not have one. His bat, which had become the most watched advertising board in the country, did not bear any sponsor’s stickers during his marathon innings.
Clarke had ordered for them to be removed as his contract was expiring.
For Kunal Sharma this was a moment to be seized and he pounced. The Wollongong-based founder of the Spartan Sports empire signed Clarke to a six-figure contra…
Read the full article at: https://www.illawarramercury.com.au/story/5629256/spartan-sports-empire-under-financial-pressure/?cs=12
photo: Gibson Brands, Inc.
Gibson Brands, Inc. declared bankruptcy in May, but the company is soldiering on with a brand-new electric guitar line-up.
Dont expect to find fancy add-ons or tech-related doodads in this simplified range. And thats on purpose.
Just recently, Gibson asked a federal bankruptcy judge to absolve the company of a $60 million debt from Tronical GmBH, a German maker of automatic tuning pegs. That idea flopped for Gibson, and the company is dialing back toward its roots.
Earlier this year, we detailed Gibsons harrowing crash into bankruptcy. But a Chapter 11 filing is designed to protect ongoing operations, and hopefully help the company get back on its feet again.
But those looking for cheaper price tags sho…
Read the full article at: https://www.digitalmusicnews.com/2018/09/05/bankrupt-gibson-2019-electric-guitar-lineup/
Credit: Getty Royalty Free
If you have children, back to school is likely to be on your mind and possibly how you’ll pay for future college bills without leaving them deep in debt. So what can you do? Depending on their stage of life, here are some ways to reduce the burden of student loans on your children:
Young children: Save
Assuming you have no high-interest debt, an adequate emergency fund, and are on track for retirement, it can’t hurt to start putting some savings away, especially if your child is still young enough to benefit from years of savings and investment earnings. You can use this college savings calculator to estimate how much to save each month. Then check out this breakdown of t…
Read the full article at: https://www.forbes.com/sites/financialfinesse/2018/09/05/how-to-help-your-children-minimize-future-student-loan-debt/
The closure of Carillion and worldwide giant, Toys R Us, only highlighted the financial issues plaguing many businesses. The latest insolvency statistics have also suggested the effects regarding company insolvency can run much deeper than originally thought.
Business Rescue Expert, a leading insolvency practitioner firm based in the North East, are sharing the knock-on impacts of one of your clients entering insolvency.
As mentioned above, the Q2 statistics for company and individual insolvencies in 2018 have been released. The previous year recorded a rise in the number of total insolvencies and, while there are slight improvements, the 2018 stats do not make for much better reading. In the first quarter of 2018, for example, the total i…
Read the full article at: https://www.businessupnorth.co.uk/how-your-clients-insolvency-can-affect-your-business/
- John Studzinski, one of the most prominent figures in global finance, is taking up a senior role at Pimco.
- Pimco, founded by the investing legend Bill Gross, is one of the worlds biggest fixed-income-focused investment companies.
- Studzinski was previously a senior figure at the private-equity giant Blackstone, and he was crucial in the restructuring of the insurer AIG during the financial crisis.
John Studzinski, one of the most prominent figures in global finance, has been appointed as the managing director of Pimco, the fixed-income-focused investment giant founded by the legendary investor Bill Gross.
Pimco announced on Wednesday that Studzinski, often known by friends as Stu…
Read the full article at: https://www.businessinsider.com/john-studzinski-joins-pimco-2018-9
Dear Sir / Madam,
We would like to inform you that 3rd meeting of Committee of Creditors of Sterling Biotech Limited was held on Tuesday, 04th September 2018 at 03.00 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India. The Meeting commenced on 03.00 P.M. IST and concluded on 7.00 P.M. IST.
You are requested to take the same on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sterling-biotech-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article24872960.ece
But six years after bursting onto the scene, Fairfax Media can reveal that parts of the Spartan empire are in financial strife. While the Spartan group is mulling a listing on the Australian Securities Exchange, the companys wholesale arm is beset with debts.
Spartan group company SSG Wholesale (Australia) – known as Spartan Sporting Goods until May 21 – was put into liquidation by creditors on May 23.
Kunal Sharma (centre) with Michael Clarke
Photo: Supplied
The company, an importer and distributor of Spartan products in Australia, owes creditors, including the tax office, ANZ Bank and a host of trade creditors and lower tier lenders, $8.5 million, according to liquidators at BRI Ferrier.
Other Spartan companies, such as Spartan Sports Inter…
Read the full article at: https://www.smh.com.au/business/companies/batting-on-liquidators-have-spartan-on-the-back-foot-20180905-p501va.html