The “La Placnte” restaurant chain, which now consists of four units based in Bucharest, went into insolvency in Romania, at its own request. In 2023, which is the last reported year, the chain had debts totaling almost 10 million lei, IPN.md reported. The company argued that it cannot clear in due time this debts due to the insufficiency of funds, shows the document analyzed by Profit.ro, quoted by IPN. In 2023, the company had a turnover of 15.1 million lei and losses of 1.3 million lei. The number of employees decreased from 86 to 47 people.
Read more
Resources Per Country
- Albania
- Austria
- Belarus
- Belgium
- Bosnia and Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Greece
- Guernsey
- Hungary
- Iceland
- Ireland
- Isle of Man
- Italy
- Jersey
- Kosovo
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Malta
- Moldova
- Monaco
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- San Marino
- Serbia
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Ukraine
- United Kingdom
- Vatican City
Fisker filed for bankruptcy, leaving Ocean owners high and dry. However, Fisker dealers were in an even worse situation. In England, a Fisker dealer was forced to abandon the Ocean SUVs on the side of a road, Autospies.com reported. Several days later, an auction house collected them and will auction them off alongside other abandoned Fisker Oceans. However, it's unclear who'd want them. Fisker filed for bankruptcy in the U.S. last June, leaving owners holding the bag. While creditors and founders will see some of their money back, owners will not have the same luck.
Read more
Britain’s biggest pub company saw its financing costs surge by 50pc to almost £500m last year, as high interest rates put pressure on the debt-laden business, The Telegraph reported. Stonegate Pub Company, best known as the owner of the Slug & Lettuce and Be At One chains, suffered a £214m loss for the year to October 2024 after the cost of servicing its debt pile rose from £301m to £455m. Debt costs grew far faster than sales across its almost 4,500 pubs. Takings increased by just £28m to £1.74bn over the year, recently published filings show.
Read more
The European Central Bank cut interest rates Thursday for the seventh time to counter worries about economic growth fueled by President Donald Trump’s tariff onslaught, the Associated Press reported. The bank’s move should support economic activity in the 20 countries that use the euro currency by making credit more affordable for consumers and businesses.
Falling petrol prices drove U.K. inflation down by more than expected in the year to March, the BBC reported. Inflation was 2.6%, down from a rate of 2.8% in February, according to official data. But the fall may only be temporary as analysts say it's expected to spike from April as rising bills and higher business costs take hold. "The only significant offset came from the price of clothes which rose strongly this month," said Grant Fitzner, chief economist at the Office for National Statistics (ONS).
The global economy will grow more slowly as a result of the tariffs imposed by U.S. President Trump and counter measures taken by other countries, but it will avoid a recession, the head of the International Monetary Fund said Thursday, the Wall Street Journal reported. In a speech ahead of a twice-yearly meeting of the Fund’s government membership, Kristalina Georgieva added that a breakdown of trust sparked this “reboot of the global trading system,” which could be remedied if the U.S.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
An ad hoc group (AHG) of noteholders has successfully converted Dutch scheme of arrangement arbitration (WHOA) proceedings launched by Brazilian cement maker InterCement’s finance-raising arm in Amsterdam into bankruptcy proceedings, two weeks after the group secured chapter 15 recognition of its Brazilian recuperação judicial (RJ) plan, Latin Lawyer reported. Read more.
Annual inflation eased for a second month in a row in the U.K., teeing up a new cut to interest rates as policymakers grow increasingly worried about the economic hit from U.S. President Trump’s changeable tariff policy, The Wall Street Journal reported. The consumer-price index rose 2.6% in March from a year earlier, slowing from an annual rate of inflation of 2.8% in February, the U.K.’s Office for National Statistics said Wednesday. Inflation came in a little lower than economists had expected, according to a consensus of estimates compiled by The Wall Street Journal.
The European Central Bank is expected to cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling economy that will take a large hit from U.S. tariffs, Reuters reported. The ECB has been easing borrowing costs rapidly as undue price pressures are disappearing, and recent turmoil on global markets is likely to bolster the bank's conviction that eurozone inflation is under control, adding to the case for further policy easing.