Entries tagged "busted buyouts"
Dallas private equity firm Lone Star Fund has three portfolio companies that succumbed to bankruptcy in 2009.
Facing a growing glut of cars on dealer lots, Chrysler LLC said late Wednesday it will idle its manufacturing plants from Dec. 19 until at least Jan. 19. ...
Private equity's woes are beginning to translate into European job losses. The Financial Times reports that 3i Group plc is about to ax some 15% of its staff -- or about 100 people -- mainly in marketing, human resources and back-office functions, and about half will be in the U.K. 3i spokespeople were not immediately available for comment. But at other places the defenestration is happening at an altogether higher level. Highest of the lot are the reported axings of Terra Firma Capital Partners' appointees to EMI Group, Chris Roling and Ashley Unwin....
GMAC LLC is reportedly tightening its lending standards to the point where a large swath of General Motors Corp. customers may be unable to get financing to buy cars. Might this be part of GMAC's partial owner Cerberus Capital Management LP's efforts to strong-arm GM back to the table to discuss a deal to swap GMAC for Chrysler LLC?...
Now that you need a bigger mattress to hide your life's savings, maybe it's time to stock up on new sheets. If so, then head over to bankrupt Linens 'n Things Inc. stores for its liquidation sale, which will begin Friday. The Clifton, N.J.-based retailer was forced to liquidate after it failed to find a buyer -- much to the dismay of its private equity owner Apollo Management LP. ...
