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New Look to slash debt by £1bn to restore profitabilty

New Look to slash debt by £1bn to restore profitabilty

Business
Fashion retailer New Look plans to cut its debt by £1bn and raise more money to turnaround the business. The company, which is closing its remaining 120 stores in China as well as 60 stores in the UK to return to profitability, said it had agreed with key shareholders to slash its debt from £1.35bn to £350m.It will raise £150m in new money to finance its business and by cutting its debt its interest payments would be reduced to £40m from £80m a year.New Look avoided a collapse into administration after creditors and landlords agreed in March to back a plan to close 60 stores in the UK.Executive chairman Alistair McGeorge said: "Today's agreement represents a critical step in our turnaround plans and lays the foundations to secure the future an...
Here's how $50,000 in student debt becomes nearly $100,000

Here's how $50,000 in student debt becomes nearly $100,000

Finance
How much people borrow to attend college can become just a small share of what they wind up owing. Currently, fewer than a quarter of student loan borrowers are repaying their principal, or the amount they originally took out, according to recent remarks made by Education Secretary Betsy DeVos at a conference on financial aid. That's because their monthly payments are just going to the interest accumulating on their debt or they're not paying anything right now. In the meantime, their debt is likely growing. ...
How to make sure a balance-transfer card will help you pay down your debt

How to make sure a balance-transfer card will help you pay down your debt

Finance
Anyone carrying burdensome credit-card debt knows how those zero percent (or low-rate) balance-transfer options can feel like a lifeline. And if you approach them right, they can help you hack away at your debt much faster and reduce how much you pay in interest. Yet more than 40 percent of consumers who take advantage of these deals don't get the balance paid off during the special-rate period, according to a new study from CompareCards.com. Depending on how much more than the monthly minimum you pay during that introductory time, you could end up making little headway in paying down your debt. ...

I Found 5 Solid Income Stocks With Zero Debt

Finance
[unable to retrieve full-text content]A buddy of mine once got a bit of a shocker a few days before his wedding when his soon to be bride confided that she owed 40 000 or so in unpaid student loans Fortunately it wasn t a deal breaker and they are still happily married But it took years to dig out from that deep Latest Articles in
Group-level resolution for crisis, debt unlikely: IL&FS board

Group-level resolution for crisis, debt unlikely: IL&FS board

Finance
The Uday Kotak-led board of Infrastructure Leasing and Financial Services (IL&FS) had informed the National Company Law Tribunal (NCLT) Monday that a single group-level resolution for the crisis and the Rs 91,000 crore debt seems tough and it will focus on vertical as well as asset-level resolution. Through the group-level resolution, the board was looking at a significant capital infusion from strong investors. "Based on an outreach conducted by the FTA, the initial assessment seems to indicate that currently, the group-level resolution option is unlikely to materialise," the board said in its second report on progress and way forward submitted to the NCLT. The board is engaging with financial and transaction advisors (FTAs) to assess the vertical and asset-level resolution options consid...