- Sara Ehlers |
Vince recently has sought back up assistance for financial issues. Seeking out sister brand Rebecca Taylor, the contemporary brand has confirmed it may need help with purchase-order financing.
Vince filed with the Securities and Exchange Commission where the company confirmed a subsidiary has an agreement with Rebecca Taylor. The agreement states that the agreement will allow for Rebecca Taylor to purchase Vince-branded finished goods from certain supplies, according to WWD. Afterwards, the goods will be sold back to Vince. This is a way for the company to back itself financial in case of liquidity issues.
For now, the deal is meant as a way to help Vince's business if needed. The agreement is a back up plan in case Vince faces blocks and obstacles due to liquidity problems. Currently, the agreement has no set dates for how long it is in place for, according to the publication. The filing could end as soon as two months if one of the parties agreed to terminate.