business closure

4+ articles

Bench Accounting CEO Ian Crosby California dining Canada Ian Crosby

Microsoft Bids Adieu to Pakistan After 25 Years

In an unexpected turn of events, Microsoft has announced the shutdown of its operations in Pakistan, marking the end of a significant 25-year chapter. This decision comes as part of the tech giant's global restructuring plan. The move has sparked reactions from industry experts and the public, raising questions about the future of Microsoft's presence in the region.

Jul 5

Microsoft Bids Adieu to Pakistan After 25 Years

Iconic Manhattan Beach Eatery Lido di Manhattan Shuts Doors After Decades

After an impressive 38-year run, Lido di Manhattan, a cherished family-owned restaurant in Manhattan Beach, California, has closed its doors. Owners Lisa and Michael Romoff cited rising business costs as the key reason behind the closure. Loyal customers and dedicated staff were heartfelt in their gratitude as the iconic dining spot bid farewell. This story reflects the broader challenges family-run restaurants face amidst escalating rents, food costs, and labor expenses.

Jan 5

Iconic Manhattan Beach Eatery Lido di Manhattan Shuts Doors After Decades

Shock as Vancouver's Bench Accounting Closes Doors, Leaving 11,000 Small Businesses Adrift

Bench Accounting, a prominent Vancouver-based bookkeeping service, has abruptly closed, affecting about 11,000 small businesses. Without citing specific reasons beyond calling it a 'difficult decision,' this move has left clients scrambling for alternatives and sparked discussions about venture capital's role in company strategies. Founded in 2012 and having raised over $100 million, the firm's sudden shutdown raises questions about the stability of Canadian fintech companies amid economic downturns.

Dec 28

Shock as Vancouver's Bench Accounting Closes Doors, Leaving 11,000 Small Businesses Adrift

Bench Accounting's Sudden Shutdown Leaves 600+ Employees in the Lurch

Vancouver-based Bench Accounting announced an abrupt closure, potentially impacting over 600 employees and leaving 35,000 U.S. customers scrambling for financial data access. Ex-CEO Ian Crosby blames venture capitalists for the shutdown, after the company received US$113 million in funding. Former clients are advised to file tax extensions and retrieve data by March 7, 2025.

Dec 28

Bench Accounting's Sudden Shutdown Leaves 600+ Employees in the Lurch