All Corporate articles – Page 2
-
News briefs
Berkemann and Everybody part ways
The German comfort shoe manufacturer Berkemann Group and the Italian women’s shoe brand Everybody have decided to dissolve the joint venture they formed in 2021. Under the partnership, Everybody’s’ Venetian designer, Gianni Ziliotto, was in charge of design and product development in Stra, Italy, while sales, customer service, accounting ...
-
ArticleEsprit’s Dutch subsidiary files for bankruptcy
The Netherlands-based division of the fashion chain Esprit has filed for insolvency with the Amsterdam court as a wave of bankruptcies continues to rock the retailer. Approximately 30 stores in the Netherlands, including Esprit stores and other retailers, still sell Esprit products. A bankruptcy administrator will explore possible solutions, ...
-
News briefs
Superga and Sebago licensee CMH Consulting files for bankruptcy
Superga and Sebago’s licensee CMH Consulting, Management and Handel has filed for bankruptcy. The company, based in Kufstein, Austria, has held since 2013 the license in Germany and Austria for the two brands owned by the Italian group BasicNet. CMH Consulting applied for restructuring proceedings without self-administration. Around ...
-
News briefs
Austrian textile and shoe retailer Vianello files for bankruptcy
The Austrian fashion retailer Vianello has filed for bankruptcy after taking a hit from falling sales amid a spike in costs. The Klagenfurt Regional Court opened restructuring proceedings without self-administration for the Carinthian textile and shoe chain. Sixty-two employees and 40 creditors are affected by the insolvency, with ...
-
ArticleEsprit’s Austrian subsidiary files for bankruptcy
Esprit’s Austrian subsidiary, Esprit Handelsgesellschaft m.b.H., has filed for bankruptcy at the Salzburg Regional Court. The announcement follows the insolvency application filed in May by the parent company Esprit Europe GmbH, headquartered in Ratingen, Germany. The bankruptcy affects 12 directly operated stores across Austria and approximately 170 employees. ...
-
ArticlePölking ends insolvency proceedings
The German shoe wholesaler Pölking has completed its insolvency proceedings after 14 months of self-administration. The proceedings were lifted by the Osnabrück District Court after creditors in early May approved the company’s insolvency plan. As part of the reorganization, Pölking acquired four stores of its sister company Lemax ...
-
News briefs
Deckers plans a 6-for-1 share split
Deckers Brands’ board of directors has approved a six-for-one forward stock split. The US footwear company intends to seek shareholder clearance for the amendment at its upcoming annual meeting of stockholders, to be held on Sept. 9, 2024. Subject to final approval by the New York Stock Exchange, trading ...
-
News briefs
Vamos and Groundies not affected by Weltbild’s insolvency
The sneaker label Vamos and the barefoot shoe brand Groundies were not affected by the insolvency of part of their parent company, the e-commerce holding company WB D2C Group, according to media reports. The German retailer filed for bankruptcy last month for a second time in ten years as ...
-
ArticleFootway transfers e-commerce business to new corporate group
Footway Group AB announced on July 4 that it is separating the company’s e-commerce business as part of a strategic review. The separation is in line with the Swedish company’s efforts over the last four years to split e-commerce and platform into separate business areas. The company’s platform has grown ...
-
ArticleShoes For Crews emerges from Chapter 11 process after asset sale
Shoes For Crews, a US firm specializing in slip-resistant footwear, said that it has completed the sale of substantially all of its assets to its first lien secured lenders via a stalking horse credit bid. The sale marks the company’s emergence from its Chapter 11 process. Through the transaction, the ...
-
News briefs
Self-administration proceedings opened for Sør
The Mönchengladbach District Court has opened self-administration proceedings for Bonavest GmbH, the owner of German fashion retailer Sør. Bonavest filed for bankruptcy in March this year as falling sales, high rents, as well as increasing energy, logistics and personnel costs took a heavy toll on the company. The ...
-
ArticlePittarosso’s debt restructuring plan cleared by Italian court
A Padua-based court has approved a composition with creditors presented by Pittarosso. At the end of last year, 93 percent of creditors had approved the plan presented by the Italian footwear retailer with the support of Responsible & Sustainable Corporate Turnaround Fund (RSCT). Established in 2020, RSCT is an Italian ...
-
News briefs
IKKS obtains capital injection, debt write-off
IKKS has convinced its creditors to waive their claims and investors to inject funds, the chairman of the French fashion retailer, Ludovic Manzon, told the news agency AFP. “Following a cash injection into the capital and the waiver of debts, we will be able to focus on the essentials, namely ...
-
ArticleHow Belledonne is achieving sneaker success by revisiting retro styles
With a claim as bold as “We do sneakers. We do them well”, Antonin Chabanne and Mikael Leo, who established Belledonne Paris in 2018, were setting their sights high. Since their company name derives from the Belledonne range of mountains in the Dauphiné Alps of southeast France near Grenoble ...
-
ArticleCreditors approve Galeria’s restructuring plan
Another hurdle has been cleared on Galeria Karstadt Kaufhof’s path to recovery. The creditors of the troubled German department store chain approved its pending reorganization plan, insolvency administrator Stefan Denkhaus said on following a creditors’ meeting. The clearance is a significant step towards the completion of Galeria’s insolvency proceedings, ...
-
News briefs
Pimkie placed under court administration
A Lille-based commercial court has placed Pimkie into a “safeguard procedure”, enabling the French fast fashion label and chain store for young women to continue operating while undergoing a restructuring, the news agency AFP reported citing trade union representatives. Frédérique Dupont, of the CFE-CGC trade union, said that the ...
-
ArticleShoes For Crews obtains court approval to sell its assets
Shoes For Crews said that on May 24 it received approval from the United States Bankruptcy for the District of Delaware for the sale of substantially all of its assets to its first lien secured lenders via a stalking horse credit bid. The sale will eliminate more than $300 million ...
-
ArticleBoohoo U-turns on executive bonuses after investor outrage
Boohoo has been forced to climb down over plans to pay three of its top executives £1 million (€1.17m) each in bonuses after shareholder anger over widening losses and missed performance targets. The directors, including co-founders Mahmud Kamani and Carol Kane, along with Chief Executive John Lyttle, were in line ...
-
ArticleGaleria Karstadt Kaufhof investors to pledge up to €100m, plan overhaul with store closures, name change
Galeria Karstadt Kaufhof’s new owners are poised to inject up to €100 million in the company to revamp its remaining department stores over the next two to three years, according to media reports. The insolvent retailer sees Sunday shopping as a cornerstone of its restructuring efforts, according to the ...
-
News briefs
Moreschi proceeds with the firing of 59 workers
As announced in February, Moreschi, an Italian producer of upscale shoes, has proceeded with the firing of 59 people as part of its plans to outsource its production to third parties. In February, the Italian footwear company controlled by the Swiss group Hurley said that its own production was “not ...
