Ceva top creditor as shoe company goes bust, hit by e-commerce boom
The bankruptcy of a shoe company in the US has revealed an interesting snapshot of ...
Photo 140522739 / Air © Richair | Dreamstime.com
REUTERS reports:
STOCKHOLM, July 5 (Reuters) – Scandinavian airline SAS (SAS.ST) has filed for bankruptcy protection in the United States to help cut debt, it said on Tuesday, piling pressure on striking pilots it blames for deepening its financial woes and sending its shares down 10%.
Wage talks between SAS and its pilots collapsed on Monday, triggering a strike that adds to travel chaos across Europe as the peak summer travel season shifts into full gear.
Chief Executive Anko van der Werff said the strike had accelerated its decision to file for Chapter 11 status. But the negotiator for SAS’s Danish pilots said the scope of the filing showed it had been months in the making and called attempts to blame striking staff for triggering it “beneath contempt”…
The full story can be read here.
Comment on this article