Financial creditors to Future Retail Ltd have submitted loan claims to the tune of ₹21,058 crore under the ongoing insolvency resolution process, showed a document available on the company’s website. A total of 33 banks...
Insolvency plea against Future Enterprises filed in NCLT
Debt-ridden Future Enterprises Ltd said an operational creditor of the company has filed a plea before the National Company Law Tribunal to initiate insolvency proceedings against it. Future Enterprises Ltd (FEL), part...
Judge approves Asurion’s $110 million purchase of Enjoy Technology
Online retailer Enjoy Technology Inc received approval from a U.S. bankruptcy court on Friday to sell its business to technology repair company Asurion LLC for $110 million. U.S. Bankruptcy Judge J. Kate Stickles in...
Lenders opt for forensic audit of Future Retail
Lenders led by Bank of India have appointed BDO India to conduct a forensic audit of Future Retail(FRL), which is facing insolvency proceedings, said two people with knowledge of the matter. Kishore Biyani-led Future...
Future Lifestyle Fashions to sell identified assets after receiving lenders’ nod
Debt-ridden Future Lifestyle Fashions Ltd (FLFL) said its board has considered and approved the proposed sale of certain identified assets of the company. The company in a regulatory filing said the assets contributed...
William Penn acquires Sheaffer brand
William Penn, a multi-brand retailer and distributor of writing instruments and accessories, said it has acquired Sheaffer, a 110-year-old iconic American brand, particularly known for its premium fountain pens. The...
Nykaa buys digital lifestyle platform Little Black Book
Online fashion retailer Nykaa has agreed to acquire digital lifestyle guide Little Black Book for an undisclosed sum. Nykaa, run by FSN E-commerce Ventures Ltd, will acquire the content-led shopping platform in an all...
Sebi orders forensic audit of Future Retail’s financials
The Securities and Exchange Board of India (Sebi) has ordered a forensic audit of the financials of Future Retail, the company told the stock exchange on Thursday. Future Consumer, a subsidiary, said Sebi has written to...
ITC exits lifestyle retailing business
FMCG major, ITC has exited its lifestyle retailing business. The decision was made after a strategic review of its business portfolio. In June this year, ITC’s chairman hinted at key changes in the lifestyle...
Estee Lauder in talks to acquire Tom Ford brand – WSJ
Cosmetics maker Estee Lauder Cos Inc is in talks to acquire luxury brand Tom Ford in what could be a $3 billion deal, the Wall Street Journal reported on Monday, citing people familiar with the matter. The potential...
JD Sports sells Footasylum to Germany’s Aurelius for 45 mln euros
Britain’s largest sportswear retailer JD Sports Fashion will sell Footasylum to German asset management firm Aurelius Group for an enterprise value of about 45 million euros ($46 million), the company said on...
Amazon files plea in SC against NCLAT ruling in Future case
Amazon India on Friday filed a petition before the Supreme Court challenging the National Company Law Appellate Tribunal’s ruling that upheld the Competition Commission of India’s order suspending the US...
