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The US freight industry is undergoing significant changes due to a recession marked by bankruptcies and price wars. American Freight, along with its parent company Franchise Group, has filed for bankruptcy, affecting $RILY. This trend is not isolated, as trucking bankruptcies are increasing, and experts predict the Great Freight Recession will continue to impact the market even after recovery begins. Additionally, the National Company Law Tribunal (NCLT) has ordered the liquidation of Future Retail, a company promoted by Kishore Biyani, following unsuccessful resolution efforts.
NCLT orders liquidation of Future Retail as resolution efforts fail https://t.co/yVoz9C8Rhm . . . #FutureRetail | #NCLT | #CorporateLiquidation | #Insolvency | #business | #businessgrowth | #BusinessUpdates | #BusinessNews | #RepublicTV | #RepublicWorld | #RepublicBusiness
Trucking bankruptcies are piling up. The Great Freight Recession will continue to claim victims well past the market recovery. https://t.co/qraeQzlx0Q
#BankruptcyCourt admits #KishoreBiyani-promoted #FutureRetail for #liquidation https://t.co/VwVe7MpV1t