Retail giant Walmart is laying off hundreds of employees at its e-commerce facilities across the US as part of an adjustment in staffing “to better prepare for the future needs of customers”

Walmart laying off hundreds of employees to better prepare for future

Deloitte India-backed resolution professional Vijaykumar V Iyer has announced two options for interested bidders to submit their EoIs. Under option I, bidders can submit EoI for the entire FRL, including its shareholding interest in subsidiaries. Under option II, bidders can choose one or more of th…

Future Retail’s resolution professional invites new EoIs, offers 2 bid options

The creditors of Future Retail Ltd have now invited new expressions of interest where the prospective buyers can bid for the debt-ridden firm “as a going concern or individual cluster or a combination of clusters” of its assets as it failed to

FRL insolvency: Creditors invite fresh bids, divide assets into 5 clusters

Lenders have decided to divide the assets into five clusters to make them more attractive to buyers.

Future Retail Creditors Invite Fresh Bids, Divide Assets As Suitors Stay Away

Biyani had sent a letter tendering his resignation from the position of the executive chairman and director of the company on January 23, 2023.

Future Retail executive chairman Kishore Biyani withdraws resignation letter after a month

The withdrawal came after the debt-ridden company, which is currently undergoing insolvency proceedings, said that “the resolution professional objected to the contents of (Biyani’s resignation) letter” and requested him to recall the letter.

Future Retail up nearly 4% after Kishore Biyani withdraws resignation

Almost one and a half months after resigning from the suspended board of debt-ridden Future Retail Ltd, Kishore Biyani has withdrawn his resignation.

Kishore Biyani withdraws resignation from FRL’s suspended board as Chairman

Resolution professional wants directors to contribute potential losses of Rs 14,809 crore caused to the lenders

Kishore Biyani withdraws resignation from Future Retail on objections raised by resolution professional

The company, currently under insolvency proceedings, said “the resolution professional objected to the contents of (Biyani’s resignation) letter” and requested him to recall the letter.

Future Retail executive chairman Kishore Biyani withdraws resignation letter

Biyani’s flagship company Future Retail, which operates large-format hypermarkets, is undergoing insolvency proceedings since last July; it has failed to attract buyers, ET reported on March 1. The company has admitted claims of ₹19,185 crore from financial creditors.

NCLT allows insolvency plea against Future Enterprises

The last date for the submission of resolution plans for the company was February 20, but the resolution professional did not receive any proposals, FRL said in a stock exchange filing on Tuesday.

Future Retail fails to get any revival plan, lenders to meet soon

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Future Retail Limited is a retail company that is engaged in multi-brand retail trade.