Category Archives: Business

Hhgregg Bankruptcy Is Looming: Reports 1

INDIANAPOLIS — According to media reports Saturday, Indianapolis-based HHGregg Inc. is preparing to file for bankruptcy just over a week after the company hired a firm to help turn its financials around, according to reports. Te 61-year-old appliance and electronics retailer could file for Chapter 11 bankruptcy as early as next month, reports Bloomberg. HHGregg […]

JC Penney Store Closures List Not Yet Reveald 0

JCPenney returned to earnings in the fourth quarter ended January with a net profit of $ 192 million compared with a loss of $ 131 million a year earlier. The Distributor’s earnings per share were 61 cents. Excluding non-recurring items, JCPenney recorded net earnings per share of 64 cents, exceeding the Zacks Investment Research consensus […]

ABB Hit By South Korea fraud Of $100 Million 0

The Swedish-Swiss engineering firm ABB announced on Wednesday ( February 22nd) that it discovered embezzlement in its subsidiary in South Korea . The group says that investigation has been launched and that its financial results for 2016 will be affected. The group, which published these unaudited results in early February, said in a statement to […]

Lowe’s layoffs: Company To Layoff At least 500 Full Time Employees 0

Renovation retailer Lowe’s has announced a second wave of layoffs in just over a month. At least 430 full-time employees will lose their jobs at the company’s headquarters in Mooresville. In addition to the corporate office, the company said 70 support positions in Wilkesboro and approximately 25 corporate-support positions in other facilities were eliminated. The […]

Kraft Heinz withdraws $143-Billion Bid For Unilever Plc 0

U.S. food company Kraft Heinz Co. withdrew its proposal for a $143-billion merger with larger rival Unilever Plc, the companies said on Sunday, raising questions about whether Kraft could turn its focus to another target. A proposal by Kraft Heinz unveiled Friday valued Unilever at about $ 143 billion. But the Anglo-Dutch group had judged […]