Insolvency Guardian Media Centre
This week print-lovers everywhere mourned the loss of one of fashions brightest brands as the news broke that Orla Kiely had collapsed into administration.
The 1970s-inspired label was renowned for its quirky floral and graphic prints and boasted the Duchess of Cambridge and Alexa Chung as loyal fans.
…
Read the full article at: https://www.independent.co.uk/life-style/fashion/orla-kiely-where-to-buy-liquidation-ebay-homewares-outlet-a8546461.html
The Campaign Against Impunity (CAI), a non-governmental organisation, has called on regulators in the countrys oil and gas, and maritime sectors to intervene in the alleged liquidation of Sea Trucks Group (STG), an indigenous company, by some expatriates.
CAI has written to major actors and regulators in the sectors such as Nigerian National Petroleum Corporation (NNPC), the National Petroleum Investment Management Services (NAPIMS), Nigerian Content and Development Monitoring Board (NCDMB), and the Nigerian Maritime Administration and Safety Agency (NIMASA).
In the letters, we have urged these stakeholders to engage with the facts of the crisis involving STG and its liquidator, while acting in manners that uphold t…
Read the full article at: https://www.premiumtimesng.com/business/business-news/284595-group-asks-govt-to-intervene-in-fraudulent-liquidation-of-nigerian-company-by-expatriates.html
Under Armour said Thursday that it will spend $US10 million on severance payments not previously reported as it works to reduce its global workforce by 3%
Its the second round of layoffs in the past year for the struggling athletic brand, which cut about 140 jobs at its Baltimore headquarters last August, when it first announced the $US200 million restructuring plan. The layoffs should be completed by April 2019, it said, without adding how many jobs were being cut.
In our relentless pursuit of running a more operationally excellent company, we continue to make difficult decisions to ensure we are best positioned to succeed, David Bergman, Under Armours chief financial officer, said in a press release. This…
Read the full article at: https://www.businessinsider.com.au/under-armour-layoffs-to-spend-10-million-on-severance-for-3-percent-of-workforce-2018-9
NEW YORK (Reuters) – New Yorks attorney general on Thursday sued 10 companies and two executives over their alleged roles in a scam to induce thousands of struggling borrowers into buying student loan debt relief services that they could have received for free.
Barbara Underwood, the attorney general, said defendants typically charged more than $1,000 for their services, often imposing usurious interest rates, after luring borrowers with false claims such as being affiliated with the government, or that their help was needed if borrowers wanted relief.
Underwood said about $1.34 trillion of federal student loan debt is outstanding, and that the defendants targeted many of the nearly 10 million borrowers who are late on their payments.
T…
Read the full article at: https://www.reuters.com/article/us-new-york-student-loans-lawsuit/new-york-lawsuit-targets-student-loan-debt-relief-fraud-idUSKCN1M02U2
A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: http://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/
There are a lot of differences between refinancing and consolidating debt. This is what you need to knowShutterstock
When it comes time to make a change to the structure of your business debt, you have a few options available to you as a small business owner. Each aims to make your debt less of a burden over time and reduce the overall cost to you. If evening out your cash flow or knocking a bit off that lifetime cost of your loan (or loans) sounds appealing, you may want to consider either consolidating or refinancing.
Consolidating and refinancing are two different approaches to restructuring your business loans, though you may (confusingly) hear the two terms used interchangeably. Lets explore the …
Read the full article at: https://www.forbes.com/sites/jaredhecht/2018/09/20/refinancing-vs-consolidating-business-debt-whats-the-difference/
A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: https://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/?cs=6161
BALTIMORE, Sept. 20, 2018 /PRNewswire/ — Under Armour, Inc. (NYSE: UA, UAA) today announced an update to its 2018 restructuring plan based on an organizational and process redesign intended to optimize the company’s strategic growth initiatives and overall business performance.
Previously, the company expected to incur total estimated pre-tax restructuring and related charges of approximately $190 million to $210 million in connection with its 2018 restructuring plan. Following further evaluation, the company has identified approximately $10 million of cash severance charges related to an approximate 3 percent reduction in its global workforce. Accordingly, it now expects approximately $200 million to $220 million of pr…
Read the full article at: https://markets.businessinsider.com/news/stocks/under-armour-updates-2018-restructuring-plan-and-full-year-2018-outlook-1027550792
The industry body, which is made up of Turkeys biggest banks, has agreed to a set of guidelines that were made public on Thursday but are dated September 11.
The plan is to help stave off mass default in the country and enable the commercial loan debtors which
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Read the full article at: https://www.globalcapital.com/article/b1b15bsl1gzkbm/turkeys-lenders-agree-debt-relief-for-corporates
Gateley Plc, the legal business of law-led professional services group Gateley, is bringing together a group of heavyweight speakers and thought leaders to explore how businesses need to build resilience in order to survive and be successful in an increasingly uncertain world.
The conference will be delivered in partnership with TheBusinessDesk .com and the Confederation of British Industry (CBI).
The event will see business leaders, entrepreneurs and experts assemble from the fields of economics, retail, manufacturing and cyber security, including Steve Richards, CEO of Casual Dining and Vanda Murray OBE, chair of the board at Marshalls.
The conference will be held at the Hilton Hotel Deansgate in Manchester on Wednesday 31 October…
Read the full article at: http://www.thebusinessdesk.com/northwest/news/2028661-gateley-plcs-restructuring-conference-focuses-helping-businesses-create-resilience-ever-complex-world
Dear Dave,
My husband started his own one-man, small business as a handyman a little less than a year ago. He has netted $17,000 in that time, but the business has about $13,000 worth of debt. Weve always kept personal finances and business separate, but what would you think about us selling one of our paid-for cars to help with the business debt?
Robin
Dear Robin,
Theres nothing wrong with small beginnings. On top of that, you should always keep your business and personal finances separate. Aside from the debt, it sounds like hes off to a good start.
I think youll be able to pay off the debt from your future income. If your husband started his business less than a year ago, he has spent that time trying to get things…
Read the full article at: https://www.ohio.com/business/20180918/dave-ramsey-sell-personal-car-to-help-pay-business-debt
In June, the US Federal Reserve raised the cash rate for the seventh time since 2015. No sooner had it announced the news, than the market immediately factored in another two rate rises before Christmas.
Usually, a series of rate increases like this happens as an economy is growing apace. That is, when the economy is growing at full stream.
The idea being that a higher cost of money reduces demand. Not only with increased borrowing costs for businesses, but consumers spending less as they have less money in their pockets.
Getting the timing right is no easy feat
As we know, though, getting the timing right is no easy feat. Raise rates too early, and you kill the economy just as its getting on its feet.
Raise rates too late, th…
Read the full article at: https://www.marketsandmoney.com.au/the-feds-real-debt-conundrum/2018/09/20/