Sri Lanka's post-war reconciliation process needs international financial support, its trade minister said on Friday 26 June, urging swift action on Colombo's request for a $1.9 billion International Monetary Fund loan.
LakeWest Group, an independent management consulting firm to retailers, filed for bankruptcy on Friday 26 June, according to court documents, becoming the latest player caught in the declining wave of consumer spending.
A US bankruptcy judge in Chicago on Thursday 25 June approved the sale of apparel retailer Hartmarx to private equity firm Emerisque and SKNL North America. The sale is expected to close next month. A final price had not yet been disclosed.
A Massachusetts sportswear company has sued Nike and the U.S. basketball hall of fame, claiming breach of contract and fraud related to the manufacture and sale of sportswear linked to Michael Jordan's upcoming induction into the hall.