Oct 11, 2016

Takata considers bankruptcy for U.S. unit

Takata Corp. is considering bankruptcy protection for its U.S. unit, among other options, a person with knowledge of the matter said. The Tokyo-based firm’s defective air bag inflators have led to the biggest recall in auto industry history. The company hired Weil Gotshal & ...

Drowning Hanjin may not be alone among global shippers

Sep 4, 2016

Drowning Hanjin may not be alone among global shippers

The problems that sank South Korea’s Hanjin Shipping last week could be just the tip of the iceberg, with the long global downturn leaving the industry burdened by excess capacity. With growth refusing to budge and consumer demand still slack, the world’s freight carriers ...

Sep 29, 2015

Skymark launches new management team as it implements turnaround plan

Embattled carried Skymark Airlines launched a new management team Tuesday to implement a rehabilitation plan, picking top officials at an extraordinary shareholders meeting. Skymark concluded a code-sharing pact with All Nippon Airways, a unit of ANA Holdings Inc., as part of the rehabilitation plan, ...

Sep 29, 2015

Shipping firm Daiichi Chuo Kisen files for bankruptcy

Shipping firm Daiichi Chuo Kisen Kaisha said Tuesday it has filed for bankruptcy protection. It reported liabilities of ¥119.6 billion. The failure of the mid-size maritime shipping company is attributed to sluggish market conditions due to the slowing of the Chinese economy and higher ...

Finland's Santa center goes bust as Russian visitors slide

Aug 21, 2015

Finland's Santa center goes bust as Russian visitors slide

Finland’s Santa Claus Office has been declared bankrupt over unpaid taxes after a sharp drop in visits from recession-hit Russians, once the center’s best customers. But Managing Director Jarmo Kariniemi said he believed the company, which employs around 20 people, could yet avoid closure ...