Max Noble
Max Noble · The Archive

Every case, kept.

Every company I have covered, with its latest Max Noble Score and the law it taught. Nothing is deleted. Misses stay on the record.

The daily newsOn today’s listEarlier casesMax Noble casesReportsEvery edition

The daily news 8

The Max Noble Podcast, every episode as it was published. Narrated by an AI voice; every fact sourced on this site.

  1. Morning Brief · 4 November 20264 November: GiFi and 4 moreA Toulouse court placed GiFi, the French discount chain with 513 shops, in a court-led rescue on Tuesday, a day after a Paris court did the same for BHV Marais. Breaking: GiFi · Update: BHV Marais · Update: Poundland · UListen · 8 min
  2. Morning Brief · 2 November 20262 November: LiveWire and 2 moreLiveWire, Harley-Davidson’s electric motorcycle company, warned of “substantial doubt” it can keep going, while a Paris court rules on BHV Marais this afternoon. Update: Poundland · Update: Mercer International · The stoListen · 5 minWatch the episodeWatch the story
  3. Morning Brief · 30 October 2026The week · 30 October: Poundland and 5 moreA notice to appoint administrators has been filed for Poundland, giving it ten working days to find a deal, while Paris’s BHV Marais waits for a court to rule. Breaking: Poundland · Breaking: BHV Marais · Thames Water 75Listen · 12 minWatch the episodeWatch the story
  4. Morning Brief · 29 October 202629 October: BHV Marais and 2 morePoundland’s directors are reported to be preparing to appoint administrators after its owner rejected the only bid for the whole chain, and Paris’s BHV Marais has asked a court for a rescue. Breaking: BHV Marais · ThamesListen · 6 minWatch the episodeWatch the story
  5. Morning Brief · 27 October 202627 October: sonnen and 1 moresonnen, the German home-battery maker Shell sold in August, joins the list after filing an insolvency application, and South Africa’s Tongaat Hulett leaves the Johannesburg exchange on 3 November. Update: JetBlue · The sListen · 5 min
  6. Morning Brief · 26 October 202626 October: GiFi and 3 moreGiFi’s new boss stood before the Toulouse court on Friday, with a ruling due on 3 November, and a São Paulo court has backed a debt deal for Ri Happy, Brazil’s toy chain. Update: Galeria · Update: Homeplus · Update: MercListen · 7 min
  7. Morning Brief · 25 October 202625 October: sonnen and 2 moreA group of JetBlue’s lenders has hired its own advisers, Bloomberg reports, and GiFi, the French bazaar chain, has asked a court for a rescue. Breaking: sonnen GmbH · Update: Mercer International · The story: JetBlue. SoListen · 6 min
  8. Morning Brief · 24 October 202624 October: sonnen and 3 moreHain Celestial, the owner of Sleepytime tea, has $549.8m of bank loans due on 22 December, and the sale meant to pay part of them is stuck. Breaking: sonnen GmbH · Update: Mercer International · Update: Thames Water · ThListen · 6 min

On today’s list 13

  1. DenmarkCPH SteelMade and fitted steel structures for Danish building projects.−100 · BankruptLaw X · Never Build Faster Than You Get PaidOn today’s list · first 21 October 2026Read the 5-minute story →
  2. DenmarkHamiconsultAn engineering consultancy in Herning that advised on building and construction projects.−100 · BankruptLaw IX · Always Read the Footnote, Not Just the NumberOn today’s list · first 21 October 2026Read the 5-minute story →
  3. DenmarkAutismetilbuddet Haslev ApSA Danish company that ran a residential care home in Haslev.−100 · BankruptOn today’s list · first 30 October 2026Read the 5-minute story →
  4. DenmarkMigatronicDesigns and builds welding machines and automated welding systems in North Jutland.−100 · BankruptLaw XXIV · Cut the Projects Before the Cash Cuts ThemOn today’s list · first 1 November 2026Read the 5-minute story →
  5. The world · United KingdomPoundlandRuns about 600 discount shops in the UK and Ireland, where they are called Dealz.−90 · FiledLaw IV · Stand for a Reason, Not a NumberOn today’s list · first 20 October 2026Read the 5-minute story →
  6. The world · FranceGiFiSells low-priced decorations, craft supplies and seasonal goods in more than 500 shops across France.−90 · FiledLaw XVII · Test the New System Before You Trust ItOn today’s list · first 25 October 2026Read the 5-minute story →
  7. The world · GermanyGaleriaA German department-store chain with 83 stores.−90 · FiledLaw XVIII · Give the Shop and Its Landlord Different OwnersOn today’s list · first 26 October 2026Read the 5-minute story →
  8. The world · FranceBHV MaraisA department store on the rue de Rivoli in Paris, open since 1856, selling mostly home, DIY and decoration.−90 · FiledLaw XXIII · Guard the Brands That Bring the CrowdsOn today’s list · first 29 October 2026Read the 5-minute story →
  9. The world · ArgentinaMetalforMakes farm machinery in Córdoba, Argentina, above all self-propelled crop sprayers.−90 · FiledLaw XXX · Spend the Grace Period SellingOn today’s list · first 4 November 2026Read the 5-minute story →
  10. The world · AustraliaDavid JonesRuns 38 department stores in Australia and New Zealand, from a Sydney shop opened in 1838.−90 · FiledLaw XXXVI · Shrink on Purpose Before You Shrink by ForceOn today’s list · first 10 November 2026Read the 5-minute story →
  11. DenmarkVelkommen groupSold electricity to Danish homes under several brand names.−84 · FiledLaw VIII · Never Spend the Money You Owe Your CustomersOn today’s list · first 21 October 2026Read the 5-minute story →
  12. DenmarkNimbusTried to bring back Nimbus, the classic Danish motorcycle, as an electric motorcycle.−84 · FiledLaw XI · Let Cash, Not Love, Build the FactoryOn today’s list · first 21 October 2026Read the 5-minute story →
  13. DenmarkHumacSells Apple products in Denmark, with advice, set-up and repairs, through its own shops.−80 · FiledLaw II · Own What the Supplier Cannot PriceOn today’s list · first 20 October 2026Read the 5-minute story →

Earlier cases 15

Companies that have left the list. Their readings are as they stood on their last day on it.

  1. The world · South KoreaHomeplusA South Korean chain of large supermarkets.−90 · FiledLaw XIX · Count the Rent Before You Sell the StoreOn the list until 4 November 2026 · first 26 October 2026Read the 5-minute story →
  2. The world · GermanysonnenMakes home batteries that store solar power, in Wildpoldsried in southern Germany.−90 · FiledLaw XXI · Sell the Service Before the Box Gets CheapOn the list until 4 November 2026 · first 27 October 2026Read the 5-minute story →
  3. The world · South AfricaTongaat HulettSouth Africa’s largest sugar maker, with mills and the country’s only white sugar refinery.−90 · FiledLaw XXII · Take Part of the Rescue, Not the AshesOn the list until 4 November 2026 · first 27 October 2026Read the 5-minute story →
  4. The world · BrazilChilli BeansSells sunglasses and accessories under its own brand through about 900 franchise shops in Brazil and abroad.−80 · FiledLaw XXV · Deliver the Audit Before the Lender AsksOn the list until 4 November 2026 · first 1 November 2026Read the 5-minute story →
  5. The world · Canada · GermanyMercer InternationalMakes wood pulp, timber and other wood products in Germany and Canada.−76 · WarningLaw VI · Borrow for the Worst Year, Not the AverageOn the list until 4 November 2026 · first 21 October 2026Read the 5-minute story →
  6. The world · BrazilCasas BahiaSells appliances, furniture and electronics across Brazil, in shops and online.−90 · FiledLaw XIV · Never Become a Bank by AccidentOn the list until 2 November 2026 · first 23 October 2026Read the 5-minute story →
  7. The world · United StatesLiveWireHarley-Davidson’s electric motorcycle company in Milwaukee, which also makes STACYC children’s electric balance bikes.−64 · WarningLaw XXVII · Start at the Price the Crowd Can PayOn the list until 2 November 2026 · first 2 November 2026Read the 5-minute story →
  8. The world · United KingdomThames WaterSupplies water and takes away sewage for almost 16 million customers in London and the Thames Valley.−60 · WarningLaw XII · Keep Owners Willing to Write the Next ChequeOn the list until 1 November 2026 · first 22 October 2026Read the 5-minute story →
  9. The world · United StatesJetBlueA New York airline that sells low fares with extras, such as seatback television and more legroom.−10 · WarningLaw XVI · Build Growth That Needs No PermissionOn the list until 27 October 2026 · first 25 October 2026Read the 5-minute story →
  10. The world · BrazilRi Happy groupSells toys in about 290 shops across Brazil, under the Ri Happy and PBKids names.−90 · FiledLaw XX · Build the Rescue on Sales You Already HaveOn the list until 26 October 2026 · first 26 October 2026Read the 5-minute story →
  11. The world · United StatesHain CelestialOwns natural food brands such as Celestial Seasonings teas, Sleepytime among them, and Earth’s Best baby food.−70 · WarningLaw XV · Refinance While the Banks Still SmileOn the list until 25 October 2026 · first 24 October 2026Read the 5-minute story →
  12. The world · GermanyBranicks GroupA listed German property company.−30 · WarningLaw VII · Treat a Lender’s Patience as a LoanOn the list until 25 October 2026 · first 21 October 2026Read the 5-minute story →
  13. The world · United StatesCoreWeaveRents out huge data centres full of Nvidia AI chips to the companies building AI.+30 · WatchLaw III · Never Mistake an Order for PaymentOn the list until 24 October 2026 · first 20 October 2026Read the 5-minute story →
  14. The world · AustraliaShared Beginnings (Finexia)Runs seven childcare centres in Queensland, Victoria and the ACT, as a subsidiary of the Australian lender Finexia.−90 · FiledLaw XIII · Take Only the Collateral You Can RunOn the list until 22 October 2026 · first 22 October 2026Read the 5-minute story →
  15. The world · United StatesGetty ImagesLicenses photos, videos and illustrations to media and businesses around the world.−78 · WarningLaw V · Never Let Debt Outrun Your CashOn the list until 21 October 2026 · first 21 October 2026Read the 5-minute story →

Max Noble cases 3

The great falls, told in five minutes with the tools business schools teach.

  1. Case 01 · 1962–2008Sterling AirlinesThe airline that sold Danes the sun.Autopsy: Five ForcesRead the free case →
  2. Case 02 · 1886–2024IrmaThe chain Danes loved, and stopped shopping at.Autopsy: VRINORead the free case →
  3. Case 03 · 2016–2025NorthvoltEurope’s greatest battery hope.Autopsy: Abell and power-interestRead the free case →

Reports 5

  1. Breaking · 8 November 2026The Children’s PlaceThe Children’s Place has filed for Chapter 11Read the report →
  2. Breaking · 3 November 2026GiFiGiFi has been placed in a court-led rescueRead the report →
  3. Breaking · 29 October 2026PoundlandA notice to appoint administrators has been filed for PoundlandRead the report →
  4. Breaking · 27 October 2026BHV MaraisBHV Marais, the Paris department store, has asked a court for a rescueRead the report →
  5. Breaking · 22 October 2026sonnen GmbHsonnen, Germany's home-battery pioneer, has filed for insolvencyRead the report →

Every edition 14

Each morning’s list, exactly as it was published.

Every edition carries a digital fingerprint (SHA-256) of its data file. Download a file, hash it, and compare: if one character had changed, the fingerprint would not match. All fingerprints →

  1. Edition 14 · Latest editionFingerprint a48f60b76b7f…Tuesday 10 November 2026David Jones, Sydney’s 188-year-old department store, entered voluntary administration and The Children’s Place filed for Chapter 11, while Poundland, ITV reports, cannot buy new stock as its protection nears its end.The world Poundland −90 · Ruta Entreprenør −100 · David Jones −90 · The Children’s Place −90 · Liberty Woman −90 · İzmir Çelik −90 · GiFi −90 · Metalfor −90 · BHV Marais −90 · Galeria −90Denmark Migatronic · HAMMEL Møbler af 2009 A/S · Autismetilbuddet Haslev ApS · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  2. Edition 13 · ArchivedFingerprint bf0508e2be87…Wednesday 4 November 2026A Toulouse court placed GiFi, the French discount chain with 513 shops, in a court-led rescue on Tuesday, a day after a Paris court did the same for BHV Marais.The world Poundland −90 · GiFi −90 · Metalfor −90 · BHV Marais −90 · sonnen −90 · Galeria −90 · Homeplus −90 · Tongaat Hulett −90 · Chilli Beans −80 · Mercer International −76Denmark Migatronic · HAMMEL Møbler af 2009 A/S · Autismetilbuddet Haslev ApS · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  3. Edition 12 · ArchivedFingerprint 51fe6c1652e5…Monday 2 November 2026LiveWire, Harley-Davidson’s electric motorcycle company, warned of “substantial doubt” it can keep going, while a Paris court rules on BHV Marais this afternoon.The world Poundland −90 · BHV Marais −90 · GiFi −90 · sonnen −90 · Casas Bahia −90 · Galeria −90 · Homeplus −90 · Chilli Beans −80 · Mercer International −76 · LiveWire −64Denmark Migatronic · HAMMEL Møbler af 2009 A/S · Autismetilbuddet Haslev ApS · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  4. Edition 11 · ArchivedFingerprint e3a48ac01af7…Sunday 1 November 2026A Paris court heard the BHV Marais case behind closed doors and rules on Monday, while Migatronic, the Danish welding-machine maker, was declared bankrupt.The world Poundland −90 · BHV Marais −90 · GiFi −90 · sonnen −90 · Casas Bahia −90 · Galeria −90 · Homeplus −90 · Thames Water −60 · Chilli Beans −80 · Mercer International −76Denmark Migatronic · HAMMEL Møbler af 2009 A/S · Autismetilbuddet Haslev ApS · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  5. Edition 10 · ArchivedFingerprint 9c311d26626c…Friday 30 October 2026A notice to appoint administrators has been filed for Poundland, giving it ten working days to find a deal, while Paris’s BHV Marais waits for a court to rule.The world Poundland −90 · BHV Marais −90 · GiFi −90 · sonnen −90 · Casas Bahia −90 · Galeria −90 · Homeplus −90 · Tongaat Hulett −90 · Thames Water −60 · Mercer International −76Denmark Autismetilbuddet Haslev ApS · HAMMEL Møbler af 2009 A/S · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  6. Edition 9 · ArchivedFingerprint 151683e50dfd…Thursday 29 October 2026Poundland’s directors are reported to be preparing to appoint administrators after its owner rejected the only bid for the whole chain, and Paris’s BHV Marais has asked a court for a rescue.The world Poundland −76 · BHV Marais −90 · GiFi −90 · sonnen −90 · Casas Bahia −90 · Galeria −90 · Homeplus −90 · Tongaat Hulett −90 · Thames Water −60 · Mercer International −76Denmark HAMMEL Møbler af 2009 A/S · CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  7. Edition 8 · ArchivedFingerprint 5f0c592ef5f3…Tuesday 27 October 2026sonnen, the German home-battery maker Shell sold in August, joins the list after filing an insolvency application, and South Africa’s Tongaat Hulett leaves the Johannesburg exchange on 3 November.The world GiFi −90 · sonnen −90 · Casas Bahia −90 · Galeria −90 · RAL Yatırım Holding −90 · Homeplus −90 · Tongaat Hulett −90 · Optimum Communications −72 · Thames Water −50 · JetBlue −10Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  8. Edition 7 · ArchivedFingerprint 93733efb8992…Monday 26 October 2026GiFi’s new boss stood before the Toulouse court on Friday, with a ruling due on 3 November, and a São Paulo court has backed a debt deal for Ri Happy, Brazil’s toy chain.The world GiFi −90 · Ri Happy group −90 · Casas Bahia −90 · Galeria −90 · RAL Yatırım Holding −90 · Homeplus −90 · Mercer International −76 · Optimum Communications −72 · Thames Water −50 · JetBlue −10Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  9. Edition 6 · ArchivedFingerprint cd91b55b6b6f…Sunday 25 October 2026A group of JetBlue’s lenders has hired its own advisers, Bloomberg reports, and GiFi, the French bazaar chain, has asked a court for a rescue.The world GiFi −90 · sonnen −90 · Casas Bahia −90 · Vollmer Werke −90 · Homeplus −90 · Galeria −90 · Mercer International −76 · Thames Water −50 · Hain Celestial −70 · Vestel Elektronik −60 · China Vanke −50 · Branicks Group −30 · JetBlue −10Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  10. Edition 5 · ArchivedFingerprint 4bcaf70858b7…Saturday 24 October 2026Hain Celestial, the owner of Sleepytime tea, has $549.8m of bank loans due on 22 December, and the sale meant to pay part of them is stuck.The world Mercer International −76 · Thames Water −50 · Hain Celestial −70 · Poundland −20 · CoreWeave +30Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  11. Edition 4 · ArchivedFingerprint 33c0b7e2af3a…Friday 23 October 2026sonnen, Germany’s home-battery pioneer, filed for insolvency two months after Shell sold it, and a São Paulo court accepted Casas Bahia’s request for court protection.The world Casas Bahia −90 · Mercer International −76 · Thames Water −50 · Poundland −20 · CoreWeave +30Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  12. Edition 3 · ArchivedFingerprint 5f3670c1c88e…Thursday 22 October 2026Getty Images filed for Chapter 11 in Delaware, and Thames Water asked its creditors for £2.4bn more, with a vote due by 29 October.The world Shared Beginnings (Finexia) −90 · Mercer International −76 · Thames Water −50 · Poundland −20 · CoreWeave +30Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  13. Edition 2 · ArchivedFingerprint e9e6dbdd8d41…Wednesday 21 October 2026AI's biggest borrower touched a 17-month low as a bank analyst warned its borrowing costs may not come down, and a German landlord bought itself time.The world Getty Images −78 · Mercer International −76 · Poundland −20 · CoreWeave +30 · Branicks +20Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus
  14. Edition 1 · ArchivedFingerprint 0f12c1dcfdd0…Tuesday 20 October 2026Denmark's Apple shop chain is back after a near-death, and AI's biggest borrower is being charged like a company in trouble.The world Zavvi −90 · Poundland −20 · Petra Diamonds −20 · CoreWeave +30 · JetBlue +40Denmark CPH Steel · Velkommen group · Humac · Hamiconsult · Nimbus

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