Italian-Japanese auto parts supplier Marelli, owned by private equity firm KKR $KKR , is currently in advanced talks with creditors as it grapples with heavy debt burdens. According to reports from Japanese news agency Kyodo, Marelli may file for Chapter 11 bankruptcy protection in the United States. The move is aimed at preserving its operations and supplier commitments, particularly to major OEMs like Nissan $7201.T and Stellantis $STLA, while it seeks financial restructuring and new capital injections.
In a major legal move with profound implications for biotech, privacy rights, and consumer protection, 27 U.S. states and Washington, D.C. have filed a lawsuit against personal genomics firm 23andMe $ME , alleging the unauthorized sale of DNA and personal genetic data during its Chapter 11 bankruptcy process.
A Russian subsidiary of Microsoft Corp. $MSFT has filed for bankruptcy, according to an official filing on Russia’s public registry, Fedresurs, dated Friday. This development marks a formal legal step in the tech giant’s continued disengagement from the Russian market following geopolitical tensions and increasing state-led restrictions on foreign software providers.
The oldest Canadian retailer, Hudson's Bay, is facing a challenging financial situation. According to confidential sources, the company is contemplating filing for bankruptcy, which could have significant repercussions for the retail sector in both Canada and the United States.
Nikola Corporation $NKLA, an electric vehicle manufacturer based in Phoenix, Arizona, is reportedly on the brink of filing for bankruptcy, as highlighted by a recent article in the Wall Street Journal. The company's stock experienced a dramatic drop of 20%, hitting just 60 cents in after-hours trading.
In recent years, pronounced economic uncertainty has been observed across various countries in Europe, and Germany appears to be facing changes that could significantly impact its business climate. According to data from the Institute for Economic Research, Germany recorded the highest number of corporate bankruptcies in the fourth quarter of last year since 2009. This information raises serious concerns not only among business owners but also for economists closely monitoring trends in Europe’s largest economy.
