Mexican retailer Grupo Famsa on Thursday said that a shareholder meeting authorized a request to file for Chapter 15 Bankruptcy in the United States and bankruptcy in Mexico. “The presentation of both applications has...
Biyani’s personal debt delays completion of Future Group’s asset sale to RIL
A loan of around ₹2,000 crore taken by Future Group founder Kishore Biyani in his personal capacity is acting as a hurdle for a proposed transaction to sell the group’s retail and lifestyle business to Reliance...
Retail rout gains pace: America’s oldest retailer Lord & Taylor seeks bankruptcy
Lord & Taylor, America’s oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos. A. Bank, lengthening the list of major retail chains that have faltered in the...
India’s Reliance to pay up to $3.6 billion for Future Group retail operations: Mint
Mukesh Ambani’s Reliance Industries Ltd will pay between 240 billion and 270 billion rupees ($3.2-$3.6 billion) to buy the Indian retail chains owned by Future Group, Mint newspaper reported on Tuesday, citing two...
Sellers body moves CCI against Flipkart’s acquisition of Walmart India
Flipkart’s recent acquisition of Walmart India is facing a big challenge as the All India Online Vendors’ Association (AIOVA) has approached the Competition Commission of India (CCI) against this deal...
RIL Future Retail Deal: Reliance inches closer to buying Future Group’s retail biz
Reliance Industries (RIL) is in late-stage talks to acquire the retail business of Future Group as it moves to bolster its brick-and-mortar play in Asia’s third-largest economy. The two have ironed out their differences...
Israeli Discount to accept $427 million offer for Shufersal stake
Israeli holding company Discount Investment Corp said it has decided to accept an offer from institutional investors to sell its shares in supermarket chain Shufersal for 1.46 billion shekels ($427 million). Discount...
Brooks Brothers enters purchase deal with retailer SPARC
Brooks Brothers said on Thursday it entered into a $305 million “stalking horse” purchase agreement with retailer SPARC Group LLC, in a move that could preserve the apparel brand as a going concern and help its...
Flipkart buys Walmart India’s wholesale biz
Flipkart has acquired the Indian operations of Walmart Inc. as its US parent consolidates its operations in this fast-growing retail market to compete with Reliance Industries Ltd and Amazon, among others. Flipkart will...
Amazon in talks to pick up 9.9% stake in Reliance retail arm: Report
Amazon.com Inc is in talks to buy a 9.9 per cent stake in the retail arm of Indian conglomerate Reliance Industries Ltd, ET Now reported on Thursday, citing sources. Amazon wants a preferred, strategic stake in Reliance...
Arvind Lifestyle receives ₹260 crore from Flipkart for stake in group firm
Arvind Fashions (AFL) on Tuesday said its subsidiary Arvind Lifestyle Brands has received ₹260 crore from Flipkart India to pick a minority stake in another group firm Arvind Youth Brands. Arvind Youth Brands is Arvind...
Walmart restarts talks on possible sale of Asda stake
Walmart, the world’s biggest retailer, has restarted talks with potential buyers of a stake in its British supermarket arm Asda, a Walmart spokesman said on Monday. The talks had been put on hold in April so management...
