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British steelmaker British Steel has declared bankruptcy. Its report says that the management of the company, despite the efforts made over the course of 3 years, could not restore the unprofitable business. A lot of work that was done in the company to keep the business, did not bring success due to additional problems that arose in connection with the exit of the UK from the European Union. The company’s management was unable to resolve the issue of financial assistance from the British authorities. After the declaration of insolvency by British Steel, there was a risk of dismissal of about 5,000 employees of the company. About 20 thousand supply chain workers may also be cut.
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more ...
Chesapeake Energy Corp. (CHK.N) said on Tuesday that it is preparing to file for bankruptcy as soon as this week after the pioneering shale oil driller missed an interest payment worth $10 Million due on Monday. The company’s stock was ...
J.C. Penney Co Inc. (JCP) stated on Wednesday that it plans to cut store count by approximately 29% to about 604, two days after filing for bankruptcy protection. The U.S. department store chain considers closing more than a fourth of its ...
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