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Potato producer CêlaVíta has been declared bankrupt. The announcement was made on the afternoon of 12 August. Since 1967, the company has built its reputation as one of the best-known suppliers of potato products to supermarkets, the food industry, hotels, restaurants, and institutions across Europe. Staff were informed of the bankruptcy this afternoon. CêlaVíta was acquired by McCain, producer of frozen chips, in 2012. In March 2024, McCain sold the company to investment firm Nimbus.
The potato processor had been in financial difficulty for some time and recently announced a reorganisation. The company, best known…
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The much-awaited bill to amend the Insolvency and Bankruptcy Code (IBC) was introduced in the Lok Sabha on Tuesday by Finance Minister Nirmala Sitharaman, who said that the proposed changes are aimed at reducing delays, maximising value for all stakeholders, and improving governance of all processes under the Code. The proposed modifications include provisions to ensure faster admission of insolvency cases, an out-of-court mechanism to address “genuine business failures”, and introduction of group and cross-border insolvency frameworks, and a slew of others.
Introduced in 2016, the IBC promised an overhaul of insolvency resolution with the aim to rescue and reorganise distressed companies through a time-bound process, prioritising…
Several subsidiaries of the Brabant shoe brand Van Lier have been declared bankrupt and its web shop is offline. The parent company is also reported to have filed for bankruptcy.
No surprise
The webshop of shoe brand Van Lier has been taken offline and several subsidiaries appear to have been declared bankrupt: they are Van Lier b.v., Van Lier Amsterdam b.v. and Van Lier Shoes b.v. According to Emerce, the parent company Van Lier Holding b.v. is not yet bankrupt, but it has filed a bankruptcy petition. The court in…
Melbourne: Cricket Australia (CA) chief executive Todd Greenberg has cautioned that some countries may go bankrupt if they persist in playing Test cricket, adding that he sees a future where fewer nations are featured in the game’s longest format.
As of now, nine teams compete in the World Test Championship (WTC), but a working group was made during the ICC Annual Conference in Singapore to assess if a two-tier Test system is feasible.
“I don’t think there is a right number (of Test-playing nations)… But I think in the future scarcity in Test cricket is our friend, not our foe. What I mean by that is, I don’t think everyone in world cricket needs to aspire to play Test cricket and that might be OK.
