Three Conservative-run counties have been added to the list of those showing signs of financial stress because of funding cuts.
Somerset, Norfolk and Lancashire county councils are exhibiting some of the warning signs demonstrated by Northamptonshire county council before it declared itself effectively bankrupt last month, according to the Bureau of Investigative Journalism.
The three join the Tory-run Surrey county council, which is facing a £100 million shortfall, as the counties in the deepest financial crises. The National Audit Office has found that one in ten councils could r…
Read the full article at: https://www.thetimes.co.uk/article/three-more-tory-councils-somerset-norfolk-and-lancashire-slip-into-bankruptcy-danger-zone-z8g8m9vp2
While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days, said the people, who asked not to be identified because the information is private. Hopes are fading that a buyer will emerge to keep some of the business operating, or that lenders will agree on terms of a
The toy chains U.S. division entered bankruptcy in September, planning to emerge with a leaner business model and more manageable debt. A new $3.1 billion l…
Read the full article at: https://www.bloomberg.com/news/articles/2018-03-08/toys-r-us-said-to-be-prepping-liquidation-of-u-s-operations
Desperate Queenslanders are reaching out for help after struggling to pay mounting phone and internet bills.
More than 137 lawyers, social workers, financial counsellors, NGO workers and professionals were surveyed as part of a report to be released by the Telecommunications Industry Ombudsman and Community Legal Centres Queensland on Friday.
Almost half of Queensland’s community legal sector workers hear about phone and internet issues every week.
Photo: James Davies
The most common phone or internet issues reported by clients was not having enough money to pay for bills, increasing debt, legal action for debt recovery, misunderstanding their contract, late bill payment, overselling, problems moving house and language barriers.
As a result,…
Read the full article at: https://www.brisbanetimes.com.au/national/queensland/queenslanders-desperate-for-help-in-not-being-able-to-pay-for-phone-bills-20180308-p4z3hz.html
Out in the cold unit owners count the cost of building defects
Concerns: Landmark penthouse owner Aidan Ellis (right) and unit owner Richard Devon in Mr Ellis’s unit at Charlestown. Severe water issues and other defects have meant years of troubles for the Landmark’s owners, Mr Ellis and Mr Devon said.
Winner: The Landmark building in Charlestown won a NSW excellence in construction award in 2009 but it has a history of problems, a NSW Civil and Administrative Tribunal hearing found.
Penthouse: The views are great but the Landmark building at Charlestown has the kind of problems that are increasingly common in NSW.
Companies: Builder/developer of the Landmark building at Charlestown, Peter Durbin. His building comp…
Read the full article at: http://www.theherald.com.au/story/5266379/out-in-the-cold-unit-owners-count-the-cost-of-building-defects/
Gill Plimmer
The future of 2,500 staff from failed construction contractor Carillion was again thrown into doubt on Thursday after a Canadian company pulled out of a deal to take over a portfolio of contracts in hospitals, education, transport, emergency services and justice in the UK.
Brookfield Global Integrated Solutions, a real estate and facilities management company, had been hoping to make its first venture into the UK but could not secure sufficient support from customers to take over the business.
Gord Hicks, chief executive, said it was disappointed with the outcome but would continue to pursue opportunities to grow our global business into…
Read the full article at: https://www.ft.com/content/00598b7a-22e4-11e8-ae48-60d3531b7d11
Dunnes Stores has finished a major corporate restructuring process by assimilating 40 individual companies into a principal entity within the group.
The move comes just months after it became apparent that the secretive retailer has been undergo…
Read the full article at: https://www.belfasttelegraph.co.uk/business/uk-world/corporate-restructuring-at-dunnes-stores-now-complete-36680874.html
One of the country’s biggest bankruptcies to go under the hammer is finally moving towards closure. Yesterday, Tata Steel said that “it has received a formal communication from the resolution professional [RP] of Bhushan Steel Ltd that it has been identified as the highest evaluated compliant resolution applicant to acquire controlling stake” of the beleaguered company under the Insolvency and Bankruptcy Code 2016. The company statement added that the Committee of Creditors (CoC) of Bhushan Steel had taken the decision at a meeting on March 6, and the next steps will be as per the stipulations under the Corporate Insolvency Resolution Process. The advisors to the CoC and the RP are currently in discussions with Tata Steel on the resol…
Read the full article at: https://www.businesstoday.in/current/corporate/tata-steel-bhushan-highest-bidder-power-insolvency-irp/story/272185.html
(Adds details on restructuring, dividend, job cuts)
By Radhika Rukmangadhan
March 8 (Reuters) – Countrywide Plc, Britains largest estate agency, posted a 22.5 percent drop in full-year core earnings on Thursday and said it cut about a third of jobs at its head office in London as part of an ongoing restructuring of its main sales and lettings business.
Shares in Countrywide slumped as much as 24 percent to a record low after the company scrapped dividend for 2017.
The company lost market share to other traditional competitors after it made organisational changes at a time when the property services industry was suffering from a drop in demand stemming from higher property taxes and the countrys vote to leave the European Union.
Executive…
Read the full article at: https://www.reuters.com/article/countrywide-results/update-1-countrywide-to-restructure-sales-lettings-business-scraps-dividend-idUSL4N1QQ342
SEOUL (Reuters) – South Korea announced on Thursday that it would offer about 240 billion won ($224.72 million) in loan guarantees and low-interest loans to regions hit by corporate restructuring, including the area of the local unit of General Motors (GM.N
FILE PHOTO: The main gate to GM Korea’s Gunsan factory is seen in Gunsan, South Korea February 13, 2018. Yonhap via REUTERS/File Photo
A total of 395 subcontractors, small business owners and workers of Gunsan – the site of GM Koreas factory that the Detroit automaker plans to shut by May – and Tongyeong are eligible for support, the Ministry of Trade, Industry and Energy said in a statement.
Tongyeong, based south of Seoul, is the home of mid-sized shipy…
Read the full article at: https://www.reuters.com/article/us-gm-southkorea/south-korea-to-offer-225-million-loan-to-ease-hit-from-gm-fallout-corp-restructuring-idUSKCN1GK0R6
SEOUL (Reuters) – South Korea announced on Thursday that it would offer about 240 billion won ($224.72 million) in loan guarantees and low-interest loans to regions hit by corporate restructuring, including the area of the local unit of General Motors’ <GM.N> soon-to-be-shut factory.
A total of 395 subcontractors, small business owners and workers of Gunsan – the site of GM Korea’s factory that the Detroit automaker plans to shut by May – and Tongyeong are eligible for support, the Ministry of Trade, Industry and Energy said in a statement.
Tongyeong, based south of Seoul, is the home of mid-sized shipyard Sungdong Shipbuilding & Marine which is entering court receivership.
“Crises in industries that take up a…
Read the full article at: https://au.news.yahoo.com/a/39445286/south-korea-to-offer-225-million-loan-to-ease-hit-from-gm-fallout-corp-restructuring/
Go to Top
Call Now Button 
