Toys R Us devotes so much of its space to toys — rather than the few aisles at Walmart and Target Corp. — it can take chances on new items and smaller suppliers.
Toys R Us Inc. doesnt sell the most toys in the U.S. that distinction goes to Walmart Inc. but it has remained a key proving ground for kids gadgets, games and other playthings.
And that may be the biggest blow to the toy industry if the retailer moves ahead with a liquidation of its U.S. operations, a prospect that became more likely this week.
Toys R Us is still the place where up-and-coming playthings get discovered. The retailer devotes so…
Read the full article at: http://ottawacitizen.com/news/retail-marketing/toys-r-us-liquidation-would-rip-a-giant-hole-in-an-industry-that-is-already-faltering/wcm/f2744fcf-23df-4d4d-94bf-f6b920854696
Dr Kittisak Klabdee, an adviser to the Public Health Minister, voiced concerns that the World Cup would bring with it potentially harmful products that would attract children and youth to gambling.
He referred to a report from the Department of Mental Health that showed their 1323 Hotline has been flooded during big sport matches with calls from parents about youths who were trapped in gambling debt.
New technologies make gambling products and opportunities more accessible in our environments. Ive been informed that there are about 213,000 Internet gambling websites and many of them are accessible in Thailand, said Kittisak, who presided over the MoU signing ceremony.
…
Read the full article at: http://www.nationmultimedia.com/detail/national/30340606
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday.
The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million, an offer of less than half a cent in the dollar.
The debts relate to Mr Palmers time as director of various companies owned by fallen tycoon Nathan Tinkler.
Mr Rapsey, of Hunter Street, Newcastle, firm Rapsey Griffiths said Mr Palmers offer was put to a meeting of creditors at his office on Friday afternoon.
He said none of the creditors were present in person the voting was all by proxy or telephone and the …
Read the full article at: http://www.theherald.com.au/story/5275798/creditors-reject-palmer-offer/?cs=305
MICHELLE OSullivan didnt hesitate when she was offered the chance to reduce her HECS debt and stay in the country town she calls home.
The director at Mathoura Preschool was the recipient of an incentive scholarship that gives $9000 to early childhood educators to help with education costs.
Originally from Geelong, Michelle has worked at Mathoura for three years and said she was loving life by the Murray.
I feel very lucky and supported by the people of Mathoura and Im extremely thankful to get the scholarship, she said.
Reducing the HECS debt helps to take the pressure off, especially when youre studying and have a family.
Michelle encouraged others to apply for the scholarship and remain in country towns.
It…
Read the full article at: http://www.riverineherald.com.au/2018/03/10/12726/michelle-receives-9000-to-reduce-her-hecs-debt
3/9/2018
ABERDEEN — Energy services company Proserv has entered into a restructuring agreement with its principal lenders which will strengthen the long term financial structure of the company.
The agreement will result in up to $50 million of fresh capital being injected in to the business and will see existing lenders Oaktree Capital Management and KKR become majority shareholders. U.S. private equity investor Riverstone Holdings LLC, formerly the principal share…
Read the full article at: http://www.worldoil.com/news/2018/3/9/proserv-enters-into-restructuring-agreement
(Adds details on results, context on restructuring, accounts review)
March 9 (Reuters) – SIG Plc on Friday posted a 4.3 percent rise in full-year pretax profit, helped by strong demand in Europe amid a restructuring turnaround in several of its businesses.
SIG, which supplies insulation and roofing products, said underlying pretax profit rose to 79.2 million pounds ($109.3 million) in the year ended Dec. 31, from 75.9 million pounds a year earlier.
The firm has been trying to strengthen its balance sheet by selling assets and reviewing costs, as it battles to recover from weak trading in its UK insulation, interiors and offsite construction businesses.
Chief Executive Officer Meinie Oldersma took over in April to lead the turnaround, whi…
Read the full article at: https://www.reuters.com/article/sig-results/update-1-britains-sig-full-year-profit-rises-as-restructuring-takes-shape-idUSL4N1QR3FS
Shares of GTL Infrastructure slumped as much as 20 per cent in morning trade today after it said the impact of Aircel’s insolvency will be materially adverse for the company.
Shares of the company plunged 19.85 per cent to a low of Rs 3.11 on the BSE. On the NSE, the stock fell 19.21 per cent to touch its 52-week low of Rs 3.15.
The stock has fallen by 57 per cent since the start of this year.
On March 1, 2018, Aircel surprisingly and unexpectedly filed for bankruptcy before the National Company Law Tribunal, Mumbai (NCLT) with an intent to undertake a resolution plan.
“Given that Aircel contributed 43 per cent of the revenues of the company as on March 2017, the …
Read the full article at: http://www.business-standard.com/article/companies/gtl-infrastructure-tanks-20-on-aircel-insolvency-woes-118030900331_1.html
Potential shenanigans involving art in the spotlight once again. London art dealer Matthew Green is among the defendants in the case against Beaufort Securities, three other corporations and five other individuals, accused by the US Department of Justice of a multiyear $50m-plus securities fraud and scheme to launder money, partly through a £6.7m painting by Picasso.
The indictment alleges that Green, described as the owner of Mayfair Fine Art Limited, met last month with an investment manager from Beaufort Securities (now declared insolvent), as well as a property developer and an undercover federal agent masquerading as a client of t…
Read the full article at: https://www.ft.com/content/03b9a598-2136-11e8-8d6c-a1920d9e946f
by Rigzone Staff
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Friday, March 09, 2018
Aberdeen-headquartered energy services firm Proserv enters into a restructuring agreement with its principal lenders, which it says will ‘strengthen the long term financial structure of the company’.
Aberdeen-headquartered energy services firm Proserv has entered into a restructuring agreement with its principal lenders, which it says will strengthen the long term financial structure of the company.
The agreement will result in up to $50 million of fresh capital being injected into the business and will see existing le…
Read the full article at: https://www.rigzone.com/news/aberdeen_services_company_enters_restructuring_agreement-09-mar-2018-153820-article/
Toys R Us plans to shutter about 20% of its U.S. store fleet, saying “tough decisions” are needed to reinvent their brands.
USA TODAY
After scrambling to keep its bankruptcy reorganization plan alive, Toys R Us is preparing for liquidation, people who weren’t authorized to speak publicly about the matter confirmed Thursday.
The toy retailing giant appears to be running out of time, and money — pushing closer to having to close the doors of the entire chain. Its leaders…
Read the full article at: https://www.cincinnati.com/story/money/2018/03/09/toys-r-us-liquidation/409780002/
The endless trials and tragic tribulations of Liepja’s shuttered KVV Liepajas Metalurgs steelworks are continuing with news that the insolvency administrator supposed to be taking care of the company’s assets has lost his license after flunking a re-certification exam, the LETA news agency reported March 9.
Guntars Koris told LETA that he lost his license on March 1 because of a failure to pass the re-certification exam.
I will carry on with my duties until the Liepaja court appoints a new insolvency administrator, Koris said.
Asked what will happen with already announced auctions of KVV Liepajas Metalurgs assets, Koris said that none of these auctions has been cancelled. What his successor will do, he could not tell…
Read the full article at: https://eng.lsm.lv/article/economy/economy/steelworks-administrator-flunks-exam-has-license-pulled.a270772/
IFCI, a government company, is enthused over the Insolvency and Bankruptcy Code (IBC) process, stating that its experience so far has been “encouraging”. This company is now making “judicious use” of the IBC to address corporate restructuring issues, which includes recovery, V Satya Ventakata Rao, Executive Director, IFCI told BusinessLine here.
As on date, IFCI has about total 57 cases at the National Company Law Tribunal (NCLT), involving Rs 5,854 crore. Rao highlighted that most of the NCLT-referred cases are already fully provided for in IFCI’s books and any resolution under the IBC process could lead to profits in its profit and loss account.
“Our experience of IBC has been encouraging. It’s moving in the right direction. In …
Read the full article at: https://www.thehindubusinessline.com/money-and-banking/our-experience-with-insolvency-code-has-been-encouraging-ifci/article22991830.ece