China Evergrande’s Chapter 15 Bankruptcy Filing in the US: Analysis, Impact, and Solutions

2023-08-17 22:05:40 New York Heavily indebted Chinese real estate developer China Evergrande has filed for Chapter 15 bankruptcy protection in the United States. That emerges from documents of the bankruptcy court in Manhattan from Thursday. Under Chapter 15 of the US bankruptcy law, foreign companies can be protected from lawsuits by American creditors while they … Read more

“Volkswagen Announces Major Restructuring Plan for Core Brand”

2023-05-17 16:46:02 Volkswagen boss Oliver Blume The restructuring of the core brand becomes the second major project of his tenure. (Photo: dpa) Düsseldorf, Wolfsburg The car manufacturer Volkswagen is preparing a far-reaching restructuring of its core brand. Volkswagen’s processes are to become faster, the model range to be streamlined and savings to be made at … Read more

“Peek & Cloppenburg: Restructuring and Job Cuts amid Pandemic Challenges”

2023-05-16 05:31:00 Peek & Cloppenburg Founded in 1869, the company lost around a third of its sales during the pandemic. (Photo: Markus Kaiser/PuC) Düsseldorf The ailing fashion retailer Peek & Cloppenburg Düsseldorf (P&C) is serious about restructuring its German business: last Friday it was announced internally that 350 of the 1,500 jobs at the headquarters … Read more

“Nobody cares that Opel makes money”

Carlos Tavares The Stellantis boss is sticking to his basic course for the Opel renovation. (Photo: Archyde.com) Paris Carlos Tavares is not in a good position in Germany as head of Opel parent company Stellantis. After violent protests from politicians and unions, Tavares had to withdraw his plans to spin off the plants in Rüsselsheim … Read more