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Seritage says Sears Holdings to continue to pay co rent until it vacates stores

6:28am EDT

June 23 (Reuters) - Seritage Growth Properties ::Seritage Growth Properties - pursuant to terms of master lease units co, units of Sears Holdings Corp, Sears Holdings exercised right to terminate master lease.Seritage Growth Properties - Sears Holdings will continue to pay co rent until it vacates stores which is expected to occur in October 2017 - SEC filing.Seritage Growth Properties - Sears Holdings to pay termination fee equal to 1 year of annual base rent, plus 1 year of estimated annual operating expenses.Seritage Growth Properties - termination of master lease with respect to 20 unprofitable stores.

Sears Canada says co, certain units obtains creditor protection under CCAA

Thursday, 22 Jun 2017 10:24am EDT

June 22 (Reuters) - Sears Canada Inc :Sears Canada obtains creditor protection under CCAA; will continue executing its reinvention.Initial order also authorizes Sears Canada Group to obtain debtor-in-possession financing in aggregate principal amount of C$450 million.‍DIP financing is expected to provide Sears Canada Group with sufficient liquidity to maintain business operations throughout CCAA proceedings​.Also announced closing of 20 full-line locations, plus 15 "SEARS HOME" stores, 10 "Sears Outlet" and 14 "Sears Hometown" locations.Retained BMO Capital Markets, as financial advisor, and Osler, Hoskin & Harcourt LLP, as legal advisor.Planned reduction in workforce of about 2,900 positions across its retail network and at its corporate head office in Toronto.Initial order does not apply to Sears Canada pension plan assets.Shahir Guindi, a director of corporation, has resigned his post.Hopes to exit CCAA protection "as soon as possible in 2017".Iinitial order provides for stay of proceedings in favour of Sears Canada Group for initial period of 30-days.As a result of CCAA filing, TSX and NASDAQ have suspended trading in common shares of co and TSX has initiated an expedited delisting review.

Sears Canada seeks creditor protection

Thursday, 22 Jun 2017 08:28am EDT

June 22 (Reuters) - Sears Canada Inc :Sears Canada seeks creditor protection to pursue restructuring plan.Sears Canada - Certain of its subsidiaries have applied to Ontario Superior Court of Justice for Protection under Companies' Creditors Arrangement Act.Says ‍hopes to exit CCAA protection as soon as possible in 2017​.Sears Canada Inc - "Continued liquidity pressures facing company as well as legacy components of its business are preventing it from making further progress".

p-ban.com to offer off-floor distribution of shares

Thursday, 22 Jun 2017 03:16am EDT

June 22(Reuters) - p-ban.com Corp <3559.T>:Says it will offer an off-floor distribution of 109,000 shares of its stock at the price of 2,137 yen per share, on Tokyo Stock Exchange, on June 23.Says the limitation for purchase of the distribution is up to 100 shares for each customer.

Etsy says May restructuring plan severance charges and other exit costs expected to higher than previously estimated

Wednesday, 21 Jun 2017 09:23am EDT

June 21 (Reuters) - Etsy Inc :Etsy inc - originally estimated severance charges and other exits costs of $4.5 million to $6 million relating to may restructuring plan - sec filing.Etsy inc - may restructuring plan severance charges and other exit costs are now expected to be in range of $6.5 million to $8 million.

Dashang to pay FY 2016 annual div on June 29

Wednesday, 21 Jun 2017 02:11am EDT

June 21(Reuters) - Dashang Co Ltd <600694.SS> ::* Says it will pay FY 2016 dividend to shareholders of record on June 28.* The company's shares will be traded ex-right and ex-dividend on June 29 and the dividend will be paid on June 29.

Nanjing Central Emporium sees H1 net profit up 220-250 pct on unit's property sales

Tuesday, 20 Jun 2017 04:15am EDT

June 20 (Reuters) - Nanjing Central Emporium Group Stocks Co Ltd <600280.SS>:Says it expects net profit to rise 220-250 percent y/y in Jan-Jun to 238-260 million yuan ($34.83-$38.04 million).

Century Ginwa Retail Holdings expects to record a loss attributable to equity shareholders for FY

Monday, 19 Jun 2017 06:28am EDT

June 19 (Reuters) - Century Ginwa Retail Holdings Ltd <0162.HK>:Expected to record a loss attributable to equity shareholders of company of approximately rmb352 million for fy.Expected result due to provision for impairment of goodwill of approximately rmb273 million.

Future Enterprises denies discussion on logistics arm IPO at board meeting

Monday, 19 Jun 2017 05:45am EDT

June 19 (Reuters) - Future Enterprises Ltd :Future enterprises clarifies on news item on co's plans to raise up to 7 billion rupees via logistics arm IPO".Says categorically deny any such discussion or decision at board meeting by co.

Whole Foods Market to pay $400 mln if merger agreement with Amazon.com is terminated

Friday, 16 Jun 2017 09:36am EDT

June 16 (Reuters) - Amazon.Com Inc -:Whole Foods Market will be obligated to pay a fee equal to $400 million if merger agreement with co is terminated - sec filing.Company expects to finance merger with Whole Foods Market with debt financing, together with cash on hand.Amazon.com Inc - has entered into a commitment letter dated as of June 15, 2017, with Goldman Sachs Bank USA, among other.Amazon.com - commitment parties to provide 364-day senior unsecured bridge term loan facility of up to $13.7 billion to fund consideration for merger.Company board has unanimously approved merger agreement with whole foods market.

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