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10 Iconic Companies That Rebounded After Bankruptcy: Lessons in Strategic Revival
In an era defined by economic volatility and relentless disruption, the specter of financial distress looms large for businesses worldwide. Yet, history offers a powerful counter-narrative: for some of the world’s most iconic brands, bankruptcy wasn’t a death sentence, but a crucible for profound rebirth. These remarkable turnarounds offer invaluable, enduring lessons in resilience, strategic thinking, and the transformative power of reinvention for any enterprise navigating uncertain times.
Here’s a close look at ten remarkable companies that not only survived but thrived after facing the brink of financial ruin, providing crucial insights into the…
Drake’s high-stakes gambling habit has taken a costly turn. On June 18, the rapper posted an Instagram Story showing over $8 million in losses over the past month at the crypto casino Stake, where he serves as a brand ambassador.
The story, shared with his 142 million followers, revealed jaw-dropping figures, including that Drake wagered $124.5 million in the last 30 days, losing $8.2 million. In the past week alone, he wagered $50.2 million, losing $5.8 million.
He then addressed his followers:
“Gotta share the other side of gambling… Losses are so…
Drake has revealed the staggering amount of money that he has lost gambling so far over the last month alone.
Posting on his Instagram Stories, a screenshot of his gambling account revealed the 6 God had wagered almost $125 million over the last month and was more than $8 million in the hole.
The screenshot revealed that Drizzy had lost almost $6 million in the last week.
Drake also wrote: “Gotta share the other side of gambling… Losses are so fried right now. I hope I can post a big win for you all soon cause I’m the only one that has never seen a max these guys max once a week.”
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As part of a process change, and with immediate effect, HMRC will no longer provide either or both pre and post tax clearances in members’ voluntary liquidation cases.
Insolvency practitioners should now close cases without tax clearance subject to their professional judgement.
This means any requests from insolvency practitioners for clearance already received will not be responded to, and any future requests will not be actioned.
This will include requests covering all heads of duty and will also cover all insolvency types.
Why has this decision been made
There is no statutory or best practice framework for HMRC to provide tax clearance.
Rather, it was a practice which arose among insolvency practitioners…
The Canadian advertising market has been in turmoil for some years, with local broadcasters and online media players cutting jobs and losing market share amid shifting advertising demand, marketing budget cuts and U.S. streaming giants with ad tiers increasingly dominating the domestic media space.
But now that volatility has reached the Canadian podcasting business, with news The Podcast Exchange, a Toronto-based advertising reseller and branded content producer, has signaled it may seek bankruptcy protection. Pary Bell, CEO of The Podcast Exchange, confirmed to The Hollywood Reporter that his company had written to creditors signaling the company plans to file a Notice of Intention under the Bankruptcy and Insolvency…
