Ailing Retailer Daiei Seeks Bailout
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Daiei Inc., a troubled Japanese supermarket chain, said Wednesday it will ask for an emergency cash injection from a government-run corporate bailout fund after the retailer's biggest creditors turned down a plea for a rescue package.
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TOKYO : The Japanese government&#39;s corporate rehabilitation body has set a deadline next week for troubled supermarket chain Daiei and its main creditor banks to ask for its help to rebuild, a report said.
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TOKYO : Debt-ridden Japanese retailer Daiei is considering seeking help from a state-backed corporate body, reversing an earlier reluctance after pressure from its creditors, officials said.
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The Industrial Revitalization Corp. of Japan (IRCJ) said on Tuesday it will bail out troubled retailer Daiei Inc. in an arrangement costing 597 billion yen (5.8 billion dollars).
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A Japanese government-backed organization will ask financial institutions to provide troubled retailer Daiei with 600 billion yen (5.7 billion dollars) in financial assistance.
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Troubled Japanese retailer Daiei Inc. and housing builder Misawa Homes Holdings Inc. will receive financial assistance from a government-backed organization that orchestrates corporate bailouts.
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BRITAIN&#39;S largest financial institutions are being urged to take lead roles in lawsuits seeking hundreds of millions of dollars from the scandal-struck US insurance industry.
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The electronics retailer might seek bankruptcy to fend off lenders.
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Russian oil giant Yukosâ chief executive officer Stephen Theede said today that the company would call an emergency shareholders meeting to consider a possible bankruptcy.
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The Japanese retailer eyes acquisitions to spur U.S. growth.
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Barclays  and Royal Bank of  Scotland  have lined up emergency funds of up to $30  billion from the U.S. Federal Reserve to bail out American  clients caught up in the global credit crunch, a paper said.
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TOKYO : Shares in ailing Japanese retailer Daiei Inc. jumped 16 percent after US giant Wal-Mart Stores Inc. confirmed it was interested in aiding the firm&#39;s revival.
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Barclays  and Royal Bank of Scotland  have lined up emergency funds of up to $30 billion from the U.S. Federal Reserve to bail out American clients caught up in the global credit crunch, a paper said.
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An Australian hedge fund has become the latest casualty of the upheaval in the credit markets, filing for bankruptcy in New York.
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Executives urged to quit over risks that took lender to the brink of collapse.
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Marubeni Corp., the top shareholder in troubled Japanese retailer Daiei has said it was open to an alliance with a rival firm but denied it was already in talks with Aeon Co. and US giant Wal-Mart.
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Shares in struggling Japanese retailer Daiei Inc. rose sharply following a report that a private Japanese equity fund might help it avoid seeking a government-led bailout.