#financial-distress
#financial-distress

1 month ago

Toronto startup

Hudson's Bay returns to court to seek approval to begin liquidating its business | CBC News

Hudson's Bay is seeking court approval for full liquidation, risking over 9,000 jobs due to lack of financing.

The company has reported nearly $1 billion in debts and is down to $3 million in cash.

Toronto startup

Hudson's Bay to sell off all merchandise at 6 stores previously spared from liquidation | CBC News

Hudson's Bay Co. will start liquidating the last six stores, as finding a buyer is unlikely.

1 month ago

Toronto startup

Hudson's Bay returns to court to seek approval to begin liquidating its business | CBC News

Hudson's Bay is seeking court approval for full liquidation, risking over 9,000 jobs due to lack of financing.

The company has reported nearly $1 billion in debts and is down to $3 million in cash.

Toronto startup

Hudson's Bay to sell off all merchandise at 6 stores previously spared from liquidation | CBC News

Hudson's Bay Co. will start liquidating the last six stores, as finding a buyer is unlikely.

more#hudsons-bay

from24/7 Wall St.

Bootstrapping

Paying my credit card minimum keeps hurting my score, and credit limits. What Are my options to fix?

Paying only minimum payments on credit cards can severely damage credit scores and prompt banks to reduce credit limits.

fromTruthout

fromwww.newsshopper.co.uk

Education Department Restarting Loan Collections for First Time Since 2020

The U.S. Department of Education is restarting student loan collections, including wage garnishments, affecting millions of borrowers facing financial hardship.

NYC parents

fromwww.theguardian.com

2 weeks ago

UK news

DWP to overhaul carer's allowance checks after overpayment scandal

A significant overhaul of the carer's allowance system aims to alleviate overpayments and debt for thousands of caregivers.

fromSacramento Bee

1 month ago

California

Attorney general urges Californians: Consider deleting genetic data from 23andMe

California Attorney General advises individuals to delete their genetic data from 23andMe due to the company's potential bankruptcy.

3 months ago

London

Lewisham residents owe 62million in council tax debts

Council tax debt has surged to over £4.4 billion, impacting over a million people and increasingly involving bailiff interventions.

London and the South East are areas with the highest council tax debts, indicating regional economic struggles.

Court referrals for council tax arrears have significantly increased, highlighting challenges faced by local councils.

4 months ago

Miscellaneous

Vodafone faces 120 million franchisee legal battle over alleged 'bad faith' business practices

Vodafone is being sued by franchisees for breaching good faith in business dealings and imposing harsh financial penalties.

fromwww.bbc.com

4 months ago

Miscellaneous

Bidders line up for struggling Thames Water

Thames Water is experiencing severe financial issues, prompting multiple bids for potential acquisition.

5 months ago

Business

Begbies Traynor predicts surge in insolvencies following budget impact

Businesses in the UK are expected to face increased financial distress due to budget changes, particularly rising National Insurance contributions.

#high-interest-rates

fromwww.independent.co.uk

6 months ago

Business

UK Businesses Face Tightening Cash Flow Amid Rising Interest Rates - 3 Tips for Managing Cash Flow

High interest rates severely impact cash flow, necessitating effective management strategies for businesses to survive.

1 year ago

Business

Half a million firms in significant' financial distress as UK's economy stagnates

More than 550,000 British firms face financial distress due to high interest rates, low consumer confidence, and pandemic-induced debt, potentially leading to insolvency.