Content about Restructuring

January 30, 2014

As part of a restructuring Best Buy Canada will be consolidating sales departments and reducing management layers in Future Shop and Best Buy stores, resulting in the layoff of about 950 full-time employees across both Future Shop and Best Buy brands.

Vancouver, Canada -- As part of a restructuring Best Buy Canada will be consolidating sales departments and reducing management layers in Future Shop and Best Buy stores, resulting in the layoff of about 950 full-time employees across both Future Shop and Best Buy brands. All store employees were notified individually about these changes and those impacted were provided with severance packages.

June 27, 2013

Canadian home improvement retailer Rona Inc. is closing 11 non-profitable stores as part of a broader restructuring plan.

Boucherville, Quebec - Canadian home improvement retailer Rona Inc. is closing 11 non-profitable stores as part of a broader restructuring plan. Rona will also reduce administrative, marketing, merchandising and distribution expenses and eliminate 125 administrative jobs. In February 2013, Rona cut 200 jobs.

Rona rejected an unsolicited $1.72 billion USD buyout offer from Lowe’s in August 2012.

 

January 31, 2011

Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.

January 28, 2011

Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility.

Ann Arbor, Mich. -- Borders Group said it has received a commitment from GE Capital, Restructuring Finance to provide a $550 million senior secured credit facility. Upon completion, the facility, including the obtaining of $125 million of additional junior debt financing via the conversion of vendor payables and/or external sources, will provide Borders with the financial flexibility and an appropriate level of liquidity to move forward with its strategy to reposition its business model and the Borders brand.

January 3, 2011

Borders Group is delaying payments to some of its vendors, a company spokeswoman said on Thursday.

New York City -- Borders Group is delaying payments to some of its vendors, a company spokeswoman said on Thursday. The news came just weeks after the company said it was trying to obtain new financing to avoid violating the terms of its credit agreements early next year.

"As part of this potential refinancing, Borders has determined that it is necessary to restructure its vendor financing arrangements and is delaying payments to certain of its vendors," Borders spokeswoman Mary Davis said by phone, in a Reuters report.

October 12, 2010

A report released Wednesday said that the Great Atlantic & Pacific Tea Co. has reached...

October 12, 2010

A late Tuesday report said that Blockbuster has launched a search for a new CEO...

October 4, 2010

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer...

May 12, 2010

Bi-Lo, LLC has completed its financial restructuring and emerged from protection under Chapter 11 of...

May 10, 2010

NAI Global and Chesterfield Faring Ltd. announced a joint venture to assist clients in need...

October 1, 2009

CIT Group said late Thursday that its restructuring plan has been approved by its board...

November 12, 2008

AnnTaylor Stores Corp. will cut more jobs and take other steps to reduce costs amid...

April 7, 2008

In a Monday vote, Movie Gallery creditors overwhelmingly approved a bankruptcy reorganization plan. The approval...

October 15, 2007

Dothan, Ala., Movie...

October 2, 2007

Fort Worth, Texas, ...

August 10, 2005

Montvale, N.J., The...