All Legal & Institutional articles – Page 13
-
ArticleU.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart
The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok. The department had previously announced that the ban would start today. The decision comes after U.S. President Donald Trump said he had given his “blessing” to a proposed deal ...
-
ArticlePeter Kaiser files for insolvency
Peter Kaiser Schuhfabrik has filed for insolvency with a local court in Pirmasens, Germany. The so-called protective shield procedure, which will enable the company to continue trading under restructuring, was motivated by a decline in sales stemming from the impact of the Covid-19 pandemic. “Peter Kaiser’s business operations continue without ...
-
News briefs
French government remains opposed to EU, Mercosur trade deal
The French government remains opposed to a trade deal between the European Union and the countries of the South American trading block Mercosur, because of the “major” issue of deforestation in the Amazon region. The French government set three conditions to continue talks with Brazil, Argentina, Uruguay and Paraguay, which ...
-
News briefs
German shoe chain Dielmann seeks investors
On Sept. 1, the Darmstadt District Court opened creditor protection proceedings for the local footwear chain Schuhhaus Dielmann and the sports retailer Sporthaus Robert Hübner. Self-administration was decided for both companies. The previous managements stepped down from both companies in June with the application of so-called protective shield proceedings. The ...
-
ArticleAmazon: The Janus-faced company
The current Covid-19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...
-
ArticleTheo Henkelman, Only A Shoes follow FNG Group into bankruptcy
The two Dutch shoe companies Theo Henkelman and Only A Shoes had to file for bankruptcy in the wake of the insolvency of part of the Belgian fashion firm FNG Group. The bankruptcy proceedings started on Aug. 10 for the two Dutch units. The administrator in charge of managing the ...
-
News briefs
Russian customs wants to check parcels for counterfeit shoes
The Russian Federal Customs Service is seeking to obtain authorization from the government to inspect parcels entering the country for the presence of counterfeit products purchased through foreign online stores, according to Sergey Shklyaev, director of the trade restrictions department of the Customs Service. Shoes and clothes are the biggest ...
-
ArticleMoreschi’s relaunch is in turmoil
The Moreschi family is seeking to block the transfer of a 50.37 percent in the namesake company to Hurley, a Swiss company run by Guido Scalfi, on the grounds that an agreement to relaunch the company is not being respected. In a statement, the Moreschi family said “we will not ...
-
News briefs
Luis Onofre re-elected president of Apiccaps
Luis Onofre was re-elected for three years as president of Apiccaps, the Portuguese association grouping manufacturers of footwear, components and leathergoods. Onofre said that at a time when Europe is discussing its reindustrialization it is important that Portugal creates the conditions to ”definitively assert itself as a leader in the ...
-
ArticleScarpe & Scarpe seeks debt restructuring agreement with creditors
The Turin-based footwear and apparel retailer Scarpe & Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an agreement with ...
-
News briefs
EU sees trade deal with U.K. as unlikely
Michel Barnier, the European Union’s chief negotiator for Brexit, said he views the possibility of reaching an agreement by the end of the year with the U.K. on the parties’ future trade relations as unlikely, following a new round of inconclusive talks in London. Barnier said there had been little ...
-
ArticleCirillo Marcolin takes over presidency of Confindustria Moda
As planned, Cirillo Marcolin has taken over the rotating presidency of Confindustria Moda, the umbrella organization of the Italian fashion industry, replacing Claudio Marenzi. Confindustria Moda comprises Sistema Moda Italia (SMI), which groups the textile and apparel firms operating in the country; Assocalzaturifici, the shoemakers’ association; Assopellettieri, formerly called Aimpes, ...
-
Article
Hotter Shoes submits debt restructuring plan to creditors
UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private Equity, ...
-
News briefsHermès’ purchase of J3L cleared by the French antitrust agency
The French antitrust agency, Autorité de la concurrence, has authorized, without conditions, Hermès’ plans to take full control of J3L, that it currently jointly controls, on the grounds that the transaction does not hinder competition. J3L produces high-end metal parts for luxury companies, especially for handbags, briefcases, wallets and shoes. ...
-
News briefs
Spanish government to guarantee €40 billion for digitalization, environment
The Spanish government is guaranteeing €40 billion in new credit lines to underpin corporate investments in digitalization and in green technologies. In March, the government had announced that it would guarantee €100 billion in loans to companies in financial difficulties due to the Covid-19 pandemic. The government is also creating ...
-
OpinionAmazon and other marketplaces may be in for a reckoning over illegal sales
Why the sale of illegal products through online platforms could become a problem for Amazon and other marketplaces – and why the widespread circumvention of EU competition law may soon be over
-
Article
CTC boosts the support scheme for its members
The Centre Technique du Cuir (CTC), the French-based research and training group that redistributes funds collected among its members to support the national leather industry, has announced a three-fold plan of exceptional measures for this year, in order to assist its members in the post-coronavirus period. A new subsidy will ...
-
Article
FFANY to move under FDRA umbrella
The Fashion Footwear Association of New York (FFANY) is set to come under the umbrella of the Footwear Distributors and Retailers of America (FDRA) effective Oct. 1 after the end of FFANY’s current fiscal year. John Heron, the executive director of FFANY, says the long-discussed merger was given a push ...
-
Article
Sioux’s wholesale division files for insolvency as coronavirus lockdowns hit sales
Plummeting department store sales amid business-wrecking coronavirus lockdowns and market uncertainty have driven Sioux Group’s wholesale division off the rails.
-
News briefs
Amazon, Valentino file joint shoe counterfeiting suit
E-commerce giant Amazon and the Italian fashion group Valentino filed a joint lawsuit against New York-based Kaitlyn Pan Group for allegedly counterfeiting the Valentino Garavani Rockstud shoes and selling them online. The lawsuit was Amazon’s first joint litigation with a luxury fashion brand and Valentino’s first with an online retailer. ...
