Restructuring

Mark Kleinman / Sky News: Source: a British Virgin Islands court ordered the liquidation of Singapore-based Three Arrows Capital on June 27; Teneo Restructuring will handle the process — A court in the British Virgin Islands has ordered the liquidation of Singapore-based Three Arrows Capital, underlining … Mark Kleinman / Sky News: Source: a British Virgin Islands court ordered the liquidation of Singapore-based Three Arrows Capital on June 27; Teneo Restructuring will handle the…

UiPath IPO at the New York Stock Exchange.Source: NYSEUiPath will reduce roughly 5% of its total workforce as part of a restructuring plan, according to a new SEC filing.The company, a provider of software for automating office tasks, said that it had 4,200 employees as of April 30, 2022. Most of the layoffs are expected to occur by the end of July.UiPath's board approved the decision to reduce headcount, citing the need to increase profits, the Securities and Exchange Commission filing said.The software provider…

Wall Street Journal: Source: crypto lender Celsius Networks is looking for financing options from investors and exploring other strategic alternatives, like financial restructuring — Celsius Network, among the largest crypto lenders, has paused user accounts, citing extreme market conditions Wall Street Journal: Source: crypto lender Celsius Networks is looking for financing options from investors and exploring other strategic alternatives, like financial restructuring — Celsius…

Ashley Carman / Bloomberg: Clubhouse eliminated “a handful of roles” as part of a broader restructuring; leaving staff include the heads of news partnerships, community, and international — Clubhouse, the social audio app that became a big hit during the early days of the pandemic, laid off multiple employees this week … Ashley Carman / Bloomberg: Clubhouse eliminated “a handful of roles” as part of a broader restructuring; leaving staff include the heads of news…

When Barry McCarthy stepped up as Peloton’s new CEO last quarter amid news the company had laid off 2,800 employees, it was clear he had his work cut out for him. Since then, McCarthy has been vocal about shifting the company’s focus from hardware to software. That new direction can be explained by looking at today’s Q3 earnings release, which paints a tough financial picture for Peloton. The company continued to post larger than expected losses, and stock prices subsequently plunged more than 20 percent. Peloton said…

Indian auto-to-technology conglomerate Mahindra Group has begun a restructuring process to split its automobiles business into three separate units, the Economic Times reported on Friday.The exercise, which is in the early stages, is aimed at splitting the auto operations into electric vehicle (EV), tractor and passenger vehicle businesses via a demerger process, the newspaper reported, citing people familiar with the talks.Mahindra Group is also seeking funds for the EV unit and will club it with Italian design house…