Under the right circumstances, an out-of-court restructuring is the best bet for an efficient, less costly process.
Compared with an in-court proceeding, a creditor composition agreement is much less costly. Here’s how to execute one successfully.
The company has been "trimming expenses and products amid the closures of restaurants, bars, movie theaters and sports stadiums that sell its drinks."
The company's latest streamlining move will enable it to "deliver greater growth and productivity as global markets emerge from the pandemic."
The consumer goods company says it is reshaping itself as a “local-first” organization.
The COVID-19 pandemic has plunged the retailer into a liquidity crisis that "could not be resolved through short-term measures."
The automaker is aiming to trim at least 1,400 positions through voluntary buyouts as it continues to shift to electric and autonomous vehicles.
The company will offer voluntary layoff packages to about 4,000 workers in the U.S. and Canada.
Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
"The development of COVID-19 into a global pandemic erased any doubt as to whether Noble would be able to avoid bankruptcy,” the offshore rig operator said.
The gas engine maker was “losing money and burdened by large debts when the economic downturn caused by the coronavirus pandemic hit.”
“These restructuring actions will further expedite our transformation to a more efficient, agile, and scalable organization."
