More than a year after declaring itself bankrupt, US carmaker General Motors (GM) is planning an initial public offering (IPO) – which is set to be the second largest share sale in US history. The company has filed an official application (called an S-1 document) with the Securities and Exchange...
Posted to
Finance
on 08-19-2010
Filed under: All Financial News, Company News, collapse, General Motors, GM, profits, bankruptcy, IPO, Securities and Exchange Commission, flotation
It has been revealed that US fashion chain American Apparel is facing bankruptcy. The chain, which has faced much criticism for its provocative and controversial ads, has almost 300 stores worldwide and 14 in the UK. The company is ready to collapse under a mountain of debt of £77.2 million and has already...
Posted to
Finance
on 08-18-2010
Filed under: All Financial News, Economy News, losses, Debt News, Company News, bankruptcy, Dov Charney, American Apparel
Coventry Building Society, which is scheduled to finalise its merger with smaller rival Stroud & Swindon next month, has today announced record results for the six months ending June 30. The UK’s third largest building society said pre-tax profit grew by 20% to £43.5 million – compared...
Posted to
Finance
on 08-18-2010
Filed under: All Financial News, Economy News, results, Company News, record, credit rating, consolidation, merger, net lending, first half, Coventry Building Society, Stroud & Swindon
Approximately 13,000 British holidaymakers are stranded abroad after budget travel firm Kiss Flights has collapsed. The firm, which operated flights to Greece, Egypt, Turkey and the Canary Islands, is the latest in a long line of travel firms that have recently gone bust. The collapse has meant the travel...
Posted to
Finance
on 08-18-2010
Filed under: All Financial News, Economy News, recession, Company News, collapse, holidaymakers, overseas, stranded, disruption, CAA, blame, ash cloud, Kiss Flights, Flight Options, Icelandic