Tupperware Brands, the company that revolutionized food storage decades ago, has filed for Chapter 11 bankruptcy protection. Tupperware, based in Orlando, Fla., plans to continue operating during the bankruptcy proceedings and will seek court approval for a sale, “in order to protect its iconic brand,” the company said just before midnight on Tuesday. The company … Read more
As revenue slumps from a “challenging advertising environment,” Canadian media company Corus Entertainment — which houses brands like Global News and YTV — is “aggressively” cutting costs, continuing layoffs and shutting down parts of its business. In the company’s third-quarter earnings call on Monday, co-chief executive officer John Gossling said that by the end of August, Corus expects it will have … Read more
Toronto An Ontario court has approved a sales process and stalking horse bid for Red Lobster Canada, which is operating under court protection from creditors. Court filings say move meant to ‘preserve’ restaurant’s business in Canada and 2,000 workers’ jobs The Canadian Press · Posted: Jun 18, 2024 5:24 PM EDT | Last Updated: 3 … Read more
FTX says that nearly all of its customers will get back the money they are owed — and some will get more than that — nearly two years after the cryptocurrency exchange imploded. FTX said in a court filing late Tuesday that it owes about $11.2 billion US to its creditors. The exchange estimates that it has between $14.5 … Read more
Cost of Living27:31Dead brands brought back to life One brand of clothing — specifically pants — has always had a special place in the closet of Alex Curry of Sexsmith, Alta., a small town about 20 kilometres north of Grand Prairie. “From high school, I loved Modrobes. I think from about Grade 7, I really noticed they … Read more
The head of Vice Media Group has informed employees that the company will stop publishing content on Vice.com and will be cutting “several hundred” positions. A memo from Vice CEO Bruce Dixon, which was sent to staff on Thursday, explains that restructuring changes are being made “to adapt and best align our strategies to be more competitive in the long … Read more
SmileDirectClub is shutting down just months after the struggling teeth-straightening company filed for bankruptcy protection. In a Friday announcement, the U.S.-based company that was operating in multiple countries, including Canada, said it had made an “incredibly difficult decision to wind down its global operations, effective immediately.” That leaves existing customers in limbo. SmileDirectClub’s aligner treatment through … Read more
