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Saks Global, a renowned luxury retailer, is inching closer to emerging from bankruptcy after a period of financial instability. The company’s reinvigoration has been fueled by securing new funds and successfully mending tenuous relationships with various…
Still one of the richest men in the world, Twitter CEO Elon Musk is now claiming that his $44 billion purchase of Twitter was a timely one as it saved the social media company from bankruptcy. Replying to a tweet from The Wall Street Journal, Musk wrote,…
Californian fast-fashion retailer Forever 21 is reportedly preparing to file for bankruptcy protection after failing to reach a deal to refinance its heavy debt load. Citing people with knowledge of the plans, Bloomberg has reported that the company has been…
In a recent letter to shareholders, Thai Nguyen Iron and Steel Jsc (TISCO) said it is facing “a financial crisis which could lead to bankruptcy if it is not saved by the government, banks and other authorities.” The charter capital of the company, one of the…
South Korean cosmetics firm Skinfood has filed for court receivership after increasing financial losses. The company’s former popularity of a decade ago was hit by the 2015 Middle East Respiratory Syndrome (MERS) outbreak and diplomatic disputes between Seoul…
Toys R Us will sell or close all of its US and UK stores in coming months. The decisions, by respective liquidators appointed on both sides of the Atlantic, will leave Canada, Asia and Central Europe up for sale as the last remaining Toys R Us businesses…
Japan’s Takata Corp decided on Monday to file for bankruptcy protection in Japan with liabilities of more than 1 trillion yen (US$9 billion), Japanese media reported, as the auto parts supplier has struggled due to its defective air bag inflators at the…
The bankruptcy of the Hanjin shipping line has thrown ports and retailers around the world into confusion, with giant container ships marooned and merchants worrying whether tons of goods will reach their shelves. The South Korean giant filed for bankruptcy…
