Group Five to shed assets under business review

JOHANNESBURG - South African builder Group Five said on Friday it would dispose of some assets and delay its interim results after filing for bankruptcy protection last month.

“The business rescue practitioners believe that the disposals to be undertaken will be in the best interests of the company and shareholders as, if not completed, the company will be unable to meet its financial commitments,” the company said in the statement. It filed for business rescue, similar to Chapter 11 bankruptcy protection proceedings in the United States, in March after its lenders pulled the plug following months of financial problems, threatening the collapse of a company that traces its roots back to the 1970s.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Business Maverick: Tuesday, April 9: Five Things You Need to Know to Start Your DaySaudi Aramco gets huge demand for its debut international bond, BlackRock aims to become one of China’s leading asset managers, and U.S. stocks rise for an eighth day. Here are some of the things people in markets are talking about.
Sumber: dailymaverick - 🏆 3. / 84 Baca lebih lajut »

MDUDUZI LUTHULI: Five lessons to learn when starting a businessFew small ventures make much profit in their first year — if any profit at all
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »

Business Maverick: Monday April 8: Five Things You Need to Know to Start Your DayThe trade deal wait game continues, oil markets are on edge amid clashes in Libya, and China expands its gold reserves. Here’s what’s moving markets.
Sumber: dailymaverick - 🏆 3. / 84 Baca lebih lajut »