#financial-distress

#financial-distress

For nearly a century, Primrose Candy Company has produced a wide variety of sweets in Chicago, Illinois. Unfortunately, the company is currently facing financial uncertainty after the loss of two of its major contracts, as well as recently establishing a settlement fund in response to a biometric privacy lawsuit. These contracts amounted to approximately $1 million in annual revenue, and the settlement fund sapped an additional $125,000.

The money, they said, might not be there to continue operation. Payroll was in question, following months of uncertainty, and to make matters worse, they'd discovered two tax liens filed by the state of California against the restaurant for a total of $530,000, related to loans against the business taken out by the owner and principal investor, Stephen Light. A collections notice had arrived in December.

Ronan needed an immediate influx of customers to stay afloat, and even ordering one cocktail or piece of merch could help.

Things continue to look bleak for the original robot vacuum maker. iRobot's third-quarter results, released last week, show that revenue is down and "well below our internal expectations due to continuing market headwinds, ongoing production delays, and unforeseen shipping disruptions," said Gary Cohen, iRobot CEO, in a press release. This meant they had to spend more cash and are now down to under $25 million.

A troubled New Zealand wildlife park says it has been forced to euthanise two of its elderly lions, with the fate of its remaining five lions unclear, after it ran into financial difficulties. The privately owned Kamo Wildlife Sanctuary in the northern city of Whangarei closed its doors on the weekend. In a post on Facebook on Tuesday, the sanctuary said its owner Bolton Equities had put the 32.5ha property up for sale in August and its seven lions, aged between 18 and 21 years old, would be euthanised following a difficult decision made by the property owner.

Rob had long been an unreliable narrator, and his latest story had been a doozy about owing back rent and borrowing thousands of dollars from a shady loan shark who had threatened him with bodily harm if he was late with his payments. There was always a germ of truth in Rob's stories, and this one involved even more disturbing details, but I was going through some of my own stuff at the time, mainly looking for a new job,

The tragic story of an apparent murder-suicide in San Francisco's Westwood Park neighborhood earlier this week gained some details on Thursday, and we now know that the perpetrator of the murders appears to have been the mother. A string of failed businesses, a home that was forced into a foreclosure sale, and mounting debt appear to have been factors leading 53-year-old Paula Truong to end the lives of her children and husband, before taking her own life.

Pangea Natural Foods Inc. has engaged Native Ads Inc. and GRA Enterprises LLC, operating as the National Inflation Association, for investor relations and communication services. Native Ads will execute a comprehensive digital marketing campaign with a budget of up to $175,000, focusing on digital media advertising and search engine marketing, while NIA will utilize its distribution channels to highlight Pangea's growth and projects. These strategic partnerships aim to enhance Pangea's market presence and investor engagement without issuing securities as compensation.

Angkor Resources Corp. has announced the granting of 4,775,000 stock options to its Directors, Officers, and consultants, recognizing their exceptional performance. These options, priced at $0.255 per share, are part of the company's Stock Option Plan and are subject to TSX Venture Exchange approval. Additionally, Angkor has engaged King Tide Media LLC for a one-month awareness campaign, costing US $35,000, to enhance its digital marketing and content creation efforts. This strategic move is aimed at bolstering the company's visibility and market presence.

Ratcliffe, who injected £300 million ($407.4m) of his own money into the club, said in March that United were in significant financial difficulties. "In super-simple terms, the club has been spending more money than it's been earning now for the last seven years, and it ends in a very difficult place," Ratcliffe said. "And for Manchester United, that place ended at the end of this year, the end of 2025, with the club running out of cash."

Frontier Airlines is looking to capitalize on its rival's financial woes. The budget carrier announced 20 new routes on Tuesday, with some fares as low as $29. They include key Spirit Airlines hubs like Fort Lauderdale, the beleaguered carrier's home base. Starting in late November, Frontier said it will fly from Fort Lauderdale to Baltimore, Charlotte, Dallas/Fort Worth, Detroit, Chicago, and Houston.

"Our data shows that the path to insolvency converges significantly on the later stages of a person's working life and beyond."

Several franchisees in and around Long Island, NY are expressing their displeasure with Dickey's Barbecue Pit after they say they were misled and promised profits that never arrived.

Altogether, Limestone owes $381,405 to 281 students, according to a report submitted to the South Carolina Commission on Higher Education by a consulting firm managing the university's assets.

Judge John O'Connor has informed the board of directors that the company has sought the appointment of an examiner. The company, Prime Steak Restaurant trading as Fade Street Social, owes Revenue €1.7 million 'and maybe more' and is unable to pay its debts. Dessie Morrow of Azets Ireland has been appointed as examiner for the company's affairs and will provide a special report to Revenue regarding inter-company loans totaling almost €4.5 million.

Londoners owe 1.4 billion in unpaid council tax, an increase of 11% in just one year, emphasizing the severe impact of the ongoing cost-of-living crisis.

Vodafone's decision to terminate contracts with 12 franchisees escalates a £120 million lawsuit claiming mistreatment, including commission cuts and punitive fines.

State Farm can increase homeowner and renter insurance rates due to necessary fund stabilization as it faces over $7 billion in claims from fires.

Hudson's Bay Co. is initiating the liquidation of six remaining stores previously spared, citing a "low probability" of finding a buyer for these locations.