Jackson School District considers redistricting, restructuring amid budget crisis
JACKSON, N.J. — Facing budget constraints, shifting enrollment numbers, and aging school infrastructure, the Jackson School District is considering a range of strategies to address class size imbalances and facility deficiencies. In…
Country Garden appoints KPMG adviser for offshore debt restructuring
(Reuters) – Beleaguered property developer Country Garden said on Tuesday it has appointed KPMG Advisory (China) Ltd as its principal financial adviser for its offshore debt restructuring. Country Garden, China’s biggest private…
Etsy to cut 225 jobs as part of restructuring
(Reuters) – Etsy said on Wednesday it was planning to cut about 225 jobs, or 11% of its marketplace workforce, as part of a restructuring to pare down operating costs. Shares of…
Vans owner VF Corp lays off 500 employees in restructuring push
(Reuters) – Vans owner VF Corp said on Thursday it has laid off about 500 employees as it aims to restructure its business and improve operations globally. The company has been struggling…
Citi makes new appointments in Asia Pacific as part of restructuring
By Selena Li and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) – Citigroup has made new appointments in Asia Pacific following a sweeping global reorganization the U.S. bank announced on Monday, according to a…
Zambia’s troubled debt restructuring efforts
LONDON (Reuters) – Zambia’s debt restructuring has been a complex, three-year process, which suffered a serious setback on Monday when bilateral creditors, including China, effectively ordered it secure more debt relief from…
Boeing chief strategy officer to depart in 2024 as part of restructuring
By Valerie Insinna WASHINGTON (Reuters) -Marc Allen will step down as Boeing’s chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares…
Exclusive-Country Garden aims to have offshore debt restructuring plan by year end, sources say
By Xie Yu HONG KONG (Reuters) – China’s embattled Country Garden is aiming to pull together a tentative plan to restructure its offshore debt by the end of this year, two sources…
Evergrande will struggle to revive its debt restructuring plan
By Clare Jim, Xie Yu and Scott Murdoch HONG KONG (Reuters) -China Evergrande is trying to stave off liquidation by revising its debt restructuring plan, but its biggest challenge will be convincing…
Factbox-Sri Lanka still in debt restructuring talks with creditors
(Reuters) – Sri Lanka, mired in its worst economic crisis in decades, is in debt restructuring talks with a range of bilateral creditors, including China, its largest single creditor. The island nation…
Evergrande offshore bondholders surprised by debt restructuring regulatory hurdles
By Scott Murdoch and Clare Jim SYDNEY (Reuters) – China Evergrande Group’s offshore bondholder group said on Monday it was surprised by the property developer’s recent announcement that its offshore debt restructuring…
Germany welcomes China’s support for G20 debt restructuring framework
BERLIN (Reuters) -Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the…
Some Sri Lanka creditors seeking debt restructuring deal without China – Bloomberg News citing sources
(Reuters) – Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on…
China Evergrande defers scheme meeting to reassess terms of proposed restructuring
(Reuters) – China Evergrande said on Friday it would not be conducting the scheme meeting scheduled on Sept. 25 and Sept. 26 as the embattled property developer considers it necessary to reassess…
Goodyear Tire to cut around 1,200 jobs in restructuring drive
(Reuters) – Goodyear Tire & Rubber has approved a rationalization and workforce reorganization plan in Europe, the Middle East and Africa that would lead to 1,200 job cuts, the company said in…
Global sovereign debt roundtable to meet on local debt restructuring -sources
(Refile for grammar fix in first paragraph) By Jorgelina do Rosario LONDON (Reuters) -Global creditors will discuss the inclusion of domestic debt in restructuring plans for countries in default next week, two…
China Evergrande delays decision on offshore debt restructuring to October
(Reuters) -Embattled property developer China Evergrande Group said on Friday it has delayed making a decision on offshore debt restructuring from September to next month. The company delayed the decision to allow…
S&P Global downgrades Rite Aid on restructuring risk
(Reuters) – S&P Global Ratings on Tuesday downgraded Rite Aid Corp to “CCC-minus” from “CCC-plus” on increased risk from restructuring. The downgrade is based on the view that the company may pursue…
Malawi ‘on course’ to restructuring $1.2 billion debt
BLANTYRE (Reuters) – Malawi is on course to getting its $1.2 billion external debt with different lenders restructured to “sustainable levels”, its central bank said in a statement on Sunday. The bulk…
Food delivery startup Getir to cut 11% of workers in global restructuring
LONDON (Reuters) – Turkish grocery delivery firm Getir announced a global restructuring on Tuesday, saying it plans to cut 2,500 jobs across five countries, or 10.9% of its total workforce. Getir will…
China Evergrande to delay creditors’ meetings amid fresh restructuring plan
(Reuters) – Embattled property developer China Evergrande Group on Wednesday resolved to delay its meetings for the Hong Kong CEG class A and class C holders of debt to provide them more…
China Evergrande EV unit to issue fresh shares in restructuring plan
(Reuters) -Embattled property developer China Evergrande Group said on Monday its listed electric-vehicle arm has agreed to issue new shares to certain subscribers to ease loan burden and improve liquidity as part…
Top Lazard restructuring banker Kurtz departs for Hilco
By Mike Spector NEW YORK (Reuters) – David Kurtz, Lazard Ltd’s global head of restructuring, has agreed to join Hilco Global, the financial advisory firm that helps failing retailers liquidate told Reuters.…
China developer Yuzhou offers debt restructuring plan
HONG KONG (Reuters) – Chinese property developer Yuzhou Group rolled out a plan to restructure its debt after defaulting on dollar bond payments last year, sparking a short rally in its shares…
Venezuela Supreme Court orders restructuring of country’s Red Cross
CARACAS (Reuters) – Venezuela’s Supreme Court on Friday ordered a “broad and diverse restructuring” of the Venezuelan Red Cross and the dismissal of the president and members of the board of directors.…
CVS Health cuts 5,000 jobs as part of restructuring plan
(Reuters) – CVS Health said on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions. CEO Karen Lynch said…
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