bankruptcy

Retail Asia06/02/2023

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, “Last 3 months were extremely tough, as had to save […]

Retail Asia11/09/2019

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 talks for additional financing and working with a team of advisers to help it […]

Retail Asia24/04/2019

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 largest steel producers in Vietnam, was VND1.94 trillion ($83.6 […]

Retail Asia16/10/2018

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 and Beijing, both events affecting the brand’s core overseas markets. A company spokesperson said: “We are having […]

Retail Asia16/03/2018

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 internationally, with operations in France, Spain, Poland and […]

Retail Asia26/06/2017

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 center of the auto industry’s biggest ever product recall. The decision came at […]

Retail Asia06/09/2016

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 protection on Wednesday and stopped accepting new cargo. With its assets being frozen, ships from […]

Tag: bankruptcy

Musk claims to have saved Twitter from bankruptcy and red ink

Forever 21 may seek bankruptcy protection in court

Vietnam state steel company close to bankruptcy

Korea’s Skinfood getting close to bankruptcy

Bankrupt Toys ‘R’ Us is closing all US and UK stores

Takata decides to file for bankruptcy

Hanjin Bankruptcy Causes Global Shipping Chaos, Retail Fears