Revlon has received permission from a US bankruptcy judge to proceed with a 1.4 billion dollar loan. The ruling comes despite junior creditors’ objections to the loan, each of which argued that its terms could deter any possibility of recovering anything from the company’s bankruptcy. Manhattan-based judge David Jones ordered modifications to...
Aug 4, 2022
The Aldo Group has announced that it has “successfully” completed its restructuring process, a move it initiated in May 2020 when it filed for bankruptcy protection. The Canadian footwear retail chain joined a number of retailers hit by the effects of the pandemic and its resulting store closures. The group began its restructuring process in...
Jul 15, 2022
Cosmetics company Revlon has announced it has filed for voluntary petitions for reorganisation in the US Bankruptcy Court in New York, alongside a number of its subsidiaries. According to the firm, the Chapter 11 filing will allow it to strategically reorganise its legacy capital structure, with the goal of improving its long-term outlook. The...
Jun 17, 2022
BH Cosmetics, a DTC beauty company based in Los Angeles, has filed for bankruptcy, or Chapter 11, as it is widely known. Founded in 2009, the company aimed its products at digitally-savvy consumers, selling online via its e-commerce channels and select retailers such as Ulta Beauty. Specialising in “high quality, clean, vegan, and cruelty-free...
Jan 24, 2022
Following Sequential Brand Group’s voluntary Chapter 11 filing, it appears that Jessica Simpson might be buying the rights to her brand back after the news of the bankruptcy broke. Last week the brand management and licensing company filed for a Chapter 11 petition at the US Bankruptcy Court as a result of significant debt, declaring it will no...
Sep 6, 2021
A second wave of Covid-19 may be detrimental for retailers who are still recovering from the onset of the pandemic. Some of America’s biggest names in fashion filed for Chapter 11 this year, including J. Crew and Neiman Marcus, J.C. Penney, Tailored Brands, Fred’s, Sears and Nine West. According to Retail Dive, the “bloodletting” is far from...
Oct 9, 2020
Brooks Brothers, a collegiate menswear brand founded in 1818, is the latest retail victim filing for bankruptcy protection. The 200 year-old company is hoping to keep creditors at bay while it searches for a buyer. The upmarket retailer is owned by Luxottica founder Claudio Del Vecchio, who bought the company from Marks & Spencer in 2001. Brooks...
Jul 9, 2020
Neiman Marcus Group has announced that Marc Beilinson has resigned from his position as board member of the group’s Board of Managers. Beilinson, who has helped the group exit Chapter 11 bankruptcy, resigned due to his emergency heart surgery last week. While he is expected to make a full recovery, his doctors have advised him to temporarily...
Jun 22, 2020
Bankrupt retailer Neiman Marcus secured a court approval for debtor financing, giving the struggling department store access to 250 million dollars with a further 150 million dollars available after 4 September. The funding would allow the group to reopen its stores after the Covid-19 closures, pay employees and restructure its debts. Neiman...
Jun 18, 2020
New York has lost an iconic retailer. As Barneys caved to bankruptcy, its name will be sold to the likes of Saks, its inventory discounted for swift liquidation, and its stores, including the Madison Avenue flagship as we know it, closed for good. Authentic Brands Group took control of Barneys assets on Friday, acquiring the intellectual...
Nov 3, 2019
New York-based department store Barneys has filed for Chapter 11 bankruptcy protection after weeks of speculation. It has entered into an agreement with Gordon Brothers and Hilco Global, whose affiliates have provided it with 75 million dollars of new capital to stay afloat during the proceedings. As part of the restructuring, Barneys announced...
Aug 6, 2019
It has come to light that German fashion brand The Strenesse New GmbH has filed for an order of temporary self-administration with the local court of Bavarian city Nördlingen already on June 26, 2019. “This procedure allows a smooth continuation of the business. … [and] offers the opportunity for realignment of the company’s operational...
Jul 9, 2019
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