British Home Stores files for bankruptcy

first_imgFrom Aditi KhannaLondon, Apr 25 (PTI) In the biggest high street collapse in the UK for nearly a decade, BHS, one of the oldest chain of retail stores filed for bankruptcy today and went into administration after failing to agree to a last-minute deal, putting 11,000 jobs at risk.British Home Stores (BHS), founded in 1928, which employs 11,000 people is being described as the biggest high street failure in the UK for nearly a decade since the demise of Woolworths in 2008.UK business secretary Sajid Javid said: “Worrying news for BHS workers this morning. Government is in close contact with the companys management at this difficult time”.Administrators Duff & Phelps will now try to find a buyer for all or part of the 88-year-old business and keep BHS operational in the meantime.In a statement, Duff & Phelps said: “The group has been undergoing restructuring and, as has been widely reported, the shareholders have been in negotiations to find a buyer for the business”.”These negotiations have been unsuccessful. In addition, property sales have not materialised as expected in both number and value. Consequently, as a result of a lower than expected cash balance, the group is very unlikely to meet all contractual payments,” it said.”The directors therefore have no alternative but to put the group into administration to protect it for all creditors,”it added.”The group will continue to trade as usual whilst the administrators seek to sell it as a going concern. Further announcements will be made as appropriate in due course,” the statement said.advertisementThe company, which has debts of more than 1.3 billion pounds, decided to bring in administrators after talks to sell some of its 164 UK stores to Sports Direct collapsed over the weekend.Dominic Chappell, the owner of BHS, said in a letter to 11,000 employees on Sunday night: “It is with a deep heart that I have to report, despite a massive effort from the team, we have been unable to secure a funder or a trade sale”.”You all need to keep your heads held high, you all have done a great job, but remember that it was always going to be very very hard to turn around,” he wrote.He indicated in the letter that staff wages for this month would be paid by the administrators.In March 2015, Retail Acquisitions, a consortium of financiers, bought BHS from the retail entrepreneur Sir Philip Green for 1 pound.At the time, Retail Acquisitions had said they would deliver 160 million pounds of funding to help turn around the fortunes of the chain, but have not been able to raise the sum. PTI AK AJR AKJ AJRlast_img read more

Kristin Gaspar on her Congressional run and being a woman in politics

first_img KUSI Newsroom Updated: 5:40 PM KUSI Newsroom, Posted: March 21, 2018 Categories: Local San Diego News Tags: Kristin Gaspar FacebookTwittercenter_img March 21, 2018 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsFormer Mayor of Encinitas and current chair of the San Diego Board of Supervisors Kristin Gaspar joined us on set at Coasterra to speak about a variety of topics.Gaspar shared her opinions on topics like being a woman in politics and winning, her Board of Supervisors position, and her future Congressional run. Kristin Gaspar on her Congressional run and being a woman in politicslast_img read more

MBTA To Increase Cost Of Parking At Wilmington Station By 50

first_imgWILMINGTON, MA — Beginning August 1, the price to park in the MBTA parking lot at Wilmington Station will increase from $4 to $6 on weekdays, and decrease from $4 to $2 on weekends.Wilmington’s parking lot consists of 191 parking spaces. The lot is regularly filled up by 7am on weekday mornings.After reviewing usage at its 99 parking lots and garages, the MBTA recently decided to adjust parking prices at more than half of its facilities.Wilmington is one of 32 MBTA parking facilities that will see a weekday price increase.  21 parking facilities will actually see a decrease in cost, while the cost at 46 parking facilities — including North Wilmington — will remain the same.The MBTA’s Governing Board approved the proposal on Monday, resulting in the MBTA’s first large scale parking price increase in 10 years. The T hopes to generate an additional $6.5 million from this new pricing strategy during its next fiscal year.Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedMBTA To Install Solar Panels At Wilmington Center Parking LotIn “Govenrment”SELECTMEN NEWS: Board Grapples With Whether To Eliminate 5 Daily Stops At N. Wilmington Commuter Rail StationIn “Government”MBTA Adds Extra Late-Night Commuter Rail Trains For This Weekend’s Lowell Folk FestivalIn “Government”last_img read more

UH Takes Big Step toward Establishing College of Medicine with Approval from

first_imgThe University of Houston took Thursday a big step toward establishing its College of Medicine after the Texas Higher Education Coordinating Board (THECB) unanimously approved a Doctor of Medicine (MD) degree for UH.“We continue to take careful, well-measured steps forward, and receiving the Texas Higher Education Coordinating Board’s endorsement is another clear indication that we are on the right track,” said Renu Khator, president of the University of Houston.  “We look forward to sustaining this progress and playing a vital role in improving the overall health and health care resources of our city and our state.” “The UH and Houston community is energized in support of this project. We are thankful that the Texas Higher Education Coordinating Board sees the validity of our mission to train physicians with a deep understanding of health disparities and social determinants of health,” said Dr. Stephen Spann, founding dean of the College of Medicine. “We remain focused on recruiting top quality faculty while developing an innovative curriculum.”There are still several critical steps remaining before the College of Medicine can open its doors to students. In December, the College of Medicine will submit its application for accreditation with the Liaison Committee on Medical Education (LCME), the federal accrediting body for medical degree programs.In January 2019, UH will seek $40 million in appropriations over 10 years from the Texas Legislature, approximately eight percent of the total $450 million in funding sources.The remaining startup costs include private support, intellectual property revenue, institutional funds and private/public partnerships. To date, UH has raised $35 million of $40 million in private philanthropy for the college.This week, UH released a video in which health care and business leaders acknowledge the need for a new college of medicine in Houston focusing on forming primary care physicians and support the university’s plan. Bill McKeon, president and chief executive officer of the Texas Medical Center, says in the video a primary care-focused medical school is “essential” for Houston and adds the institutions that form the Texas Medical Center see the UH College of Medicine as “extremely complementary to the existing hospitals and medical schools.”The UH College of Medicine aims for at least 50 percent of each graduating class to specialize in primary care, while the national average is approximately 20 percent. UH contends that philosophy is useful because Texas faces a substantial primary care physician shortage and ranks 47th out of 50 states in primary care physician-to-population ratio. According to the Association of American Medical Colleges, the state will need to add another 6,400, a 32 percent increase, by 2030.Additionally, Houston’s population has tripled since the last medical school was established in the city in 1972 and, despite being home to the Texas Medical Center, large sections of the city are measured as having high or moderately high levels of socioeconomic disadvantage, according to the Health of Houston Survey 2015.Earlier this month, Humana announced a $15 million gift to UH to launch the Humana Integrated Health System Sciences Institute, which will unite the College of Medicine with the existing Colleges of Nursing, Pharmacy, Social Work and Optometry.The College of Medicine is scheduled to admit 30 students in its inaugural class.UH is finalizing a partnership with HCA Houston Healthcare, the largest hospital company in the nation, to bring a total of 389 new resident positions to the College of Medicine over its first six years. Sharelast_img read more