Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The latest petition is filed...
Retail
Mobile World plans stake sale of $1.5 bln Vietnamese grocery unit
Vietnam’s Mobile World Investment Corp said it has hired an adviser to explore the sale of up to 20% of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at...
Future Retail creditors file claims worth Rs 21,324 cr before IRP
Creditors of Future Retail Ltd have submitted claims worth Rs 21,324.18 crore against the debt-ridden company presently facing an insolvency resolution process. The financial creditors of the companies, which mainly...
Future Retail lenders claim ₹21,058 crore dues under insolvency resolution
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...
