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LyvInn, a new European hotel brand, has inaugurated its first property in Frankfurt, the prominent commercial hub of Germany. Founded by Navneet Bali, former CEO and chairman of Meininger Hotels, LyvInn Hotels presents a distinctive "hybrid" concept that combines flexible accommodations, co-working spaces, and social areas to cater to both short and extended stays.
Ascendis Health's hastily reinstated AGM on Monday may have been a costly mistake for the wellness company, after it effectively triggered the cancellation of an agreement it had made with its lenders.
Mark Sardi hit the ground running after joining the company in 2019, working on Ascendis’ restructure, following a tough period that saw the group’s share price decline by more than 95% and a staggering R7.7 billion mountain of debt.
In the next seven to ten days, Ascendis CEO Mark Sardi will meet with shareholders to discuss whether the company should be delisted and privatised or if what is left of it should be sold off.
Ascendis' woes stem from its ambitious debt-funded acquisition spree that saw it snap up a number of businesses in Europe.