Bankruptcy

Economy

German solar panel industry struggles with declining demand

German solar panel demand has been hit by dampened consumer and investor sentiment, as the ongoing cost of living crisis and high interest rates have hampered installations.

02/01/2025

Economy

World Bank: Developing countries spend record amount on foreign debt

Poorer economies are limiting investments in health, education, and the climate to avoid default and repay foreign lenders.

03/12/2024

Business

Northvolt files for bankruptcy in major blow to European EV sector

The Swedish battery developer and manufacturer, Northvolt, has filed for bankruptcy in the US, as the company struggles with mounting debt, after it was unable to secure rescue funding and was left with only one week of cash reserves.

22/11/2024

Business

Titanic builder Harland & Wolff to enter administration amid debt woes

RMS Titanic shipbuilder Harland & Wolff announced on Monday that it will enter administration following financial troubles.

16/09/2024

Business

Scholz visits Meyer Werft shipyard as company struggles to stay afloat

Meyer Werft, one of the world's biggest cruise ship builders, will receive government support to patch up its budget deficit.

22/08/2024

Business

The Body Shop’s French subsidiary takes a step closer to liquidation

Several other UK high street brands have also gone into administration recently, including Debenhams and Topshop, due to higher interest rates, the cost of living crisis and increasing inflation seen in the UK over the last several months.

05/07/2024

Business

The rise of the world's debt-laden 'zombie' companies

An Associated Press analysis found the number of publicly-traded 'zombie' companies - those so laden with debt they're struggling to pay even the interest on their loans - has soared to nearly 7,000 around the world.

07/06/2024

Denmark

Nordic Waste faces criticism over bankruptcy scandal

There are concerns the bankruptcy could cost Danish taxpayers some €27 million.

20/01/2024

Business

Major German department store chain files for insolvency protection

Galeria Karstadt Kaufhof is seeking a new owner, whose real estate group has made several insolvency filings.

09/01/2024

Business

WeWork forced to file for bankruptcy

WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world.

07/11/2023

Business

WeWork files for bankruptcy: reports

US office-sharing firm WeWork is reportedly filing for bankruptcy as early as next week, after being buffeted by a chain of financial woes.

01/11/2023

Business

FTX co-founder testifies against Sam Bankman-Fried in fraud case

Bankman-Fried is standing trial for allegedly stealing billions of dollars from customers of the now-bankrupt cryptocurrency exchange platform FTX. The case has been called one of the biggest financial frauds in US history.

06/10/2023

World News

Business bankruptcy in EU surges to highest levels since 2015

The latest data is a grim indication of Europe's economic health.

26/08/2023

Mobility

Dutch e-bike company VanMoof declared bankrupt

The Dutch company's trustees will seek a third party to buy the company's assets and continue its activities.

18/07/2023

Money

JPMorgan to take over deposits of troubled First Republic Bank

After Silicon Valley Bank and Signature Bank, First Republic is the third midsize bank in the US to fail in just two months.

01/05/2023

Culture news

Italy's Borsalino hat brand seeks to stage a comeback

After its 2017 bankruptcy and a subsequent change of ownership, the legendary handcrafted hat brand Borsalino is staging a revival. The 166-year-old brand is now endorsed by a French-Italian financier. Borsalino aims to win over a young and diverse audience.

05/04/2023

Money

First Citizens Bank to buy collapsed Silicon Valley Bank

All of SVB's deposits and loans will be taken over by its rival First Citizens Bank, US regulators said late on Sunday.

27/03/2023

Money

How is Europe dealing with the Silicon Valley Bank collapse fallout?

The collapse of SVB, the biggest bank failure since 2008, has reverberated around the world. What is being done to limit the fallout?

13/03/2023

Money

HSBC to buy the UK subsidiary of collapsed Silicon Valley Bank

HSBC has agreed to acquire the UK subsidiary of Silicon Valley Bank for just £1 (€1.13) in a bid to protect the country’s tech sector.

13/03/2023

Travel News

This European airline has cancelled all flights after going bust

The airline says weak financial markets and uncertainty over demand for air travel left it cash-strapped.

01/02/2023