The Los Angeles Times plunges into ‘chaos’ as brutal layoffs loom and senior editors call it quits | CNN Business: To say that it has been a rocky start to the new year for the venerable news outlet would be an understatement.
Country Garden’s Offshore Creditors Hire Advisers for Debt Talks - Bloomberg: A group of Country Garden Holdings Co.’s creditors has appointed financial and legal advisers, paving the way for more debt talks in what could be one of China’s largest-ever offshore restructurings.
Vroom Falls on Plan to Wind Down Ecommerce Used Vehicle Ops: Vroom said it will discontinue its ecommerce operations and wind down its used vehicle dealership business, eliminating about 800 jobs.
Adler (ADJ) €6 Billion Debt Restructuring Derailed by UK Court: Holders of Adler Group SA’s long-term debt won an appeal over its €6 billion ($6.5 billion) restructuring, threatening to jeopardize the embattled German real estate firm’s turnaround plan.
Brex Cuts 20% of Staff and Shakes Up Senior Management — The Information: Brex is cutting 20% of its workforce and shaking up senior management ranks in a new effort to slash its cash burn, as the fintech firm grapples with slower revenue growth.
FINRA says 70% of crypto communications it reviewed violated rules | The Block: FINRA says 70 percent of communications about crypto may have violated its rules to be fair and balanced with the public.
As paint brand Kelly-Moore shuts down, competitors try to swoop in: Paint brand Kelly-Moore's closure means 150 store will shut down and more than 1,000 people will lose their jobs.
As Neighborhood Goods shuts down, brands await final payments: Neighborhood Goods, a startup that hoped to reinvent the department store, alerted brands and vendors that it was closing all of its stores.
‘It’s a tough industry out there’: A look at the furniture supply chain’s challenging year | Retail Dive: Operational headaches have contributed to financial failures among some suppliers. That has created problems for retailers — and opportunities.
‘It’s going to be a very tough year’: Casper CEO on the home goods market in 2024 | Retail Dive: The executive, along with Brooklinen CEO Billy May, discussed challenges in the sector and how to usher DTC brands into the next era of growth.
Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics - WSJ: Sales of newly built homes in China fell 6% last year, returning to a level not seen since 2016, according to China’s statistics bureau. Secondhand home prices in its four wealthiest cities—Beijing, Shanghai, Guangzhou and Shenzhen—declined by between 11% and 14% in December from the year before, according to the broker Centaline Property.
