With Financing Push, Saks Global Looks to Buy Some Time Luxury retail giant Saks Global is making headlines once again, this time for securing a deal to infuse a staggering $500 million in new financing. This move comes as a strategic effort to stave off an imminent reckoning that has been looming over the brand […]
Forever 21 Creditors Face Large Losses Under Bankruptcy Plan
Forever 21 Creditors Face Large Losses Under Bankruptcy Plan The fashion industry has been rocked by the news of Forever 21’s bankruptcy filing, leaving creditors in a state of uncertainty and potential financial loss. The fast-fashion giant, once a staple in malls across the country, has proposed a plan that offers meager recoveries on debts […]
Forever 21 Bankruptcy Creditors Probing Sparc-JCPenney Tie-Up
Forever 21 Bankruptcy Creditors Probing Sparc-JCPenney Tie-Up The fashion industry was recently rocked by Forever 21’s bankruptcy filing, leaving many stakeholders concerned about the future of the iconic fast fashion retailer. As the dust settles on this unexpected turn of events, a committee of unsecured creditors to Forever 21’s US arm has begun to investigate […]
Italian Luxury Supplier Plans Creditor Talks As Demand Slows
Italian Luxury Supplier Plans Creditor Talks As Demand Slows Altofare Group, the umbrella organization that manages a consortium of Italian luxury suppliers, is currently facing a challenging period as demand for high-end products slows down globally. In response to this economic downturn, the group has taken a proactive step by enlisting the services of tax […]
Saks Owner Hudson’s Bay to Begin Liquidating Most Stores on Monday
Saks Owner Hudson’s Bay Initiates Store Liquidation Process Amid Restructuring Efforts The retail industry has been facing unprecedented challenges in recent years, with the pandemic exacerbating the struggles of many traditional brick-and-mortar stores. The latest casualty in this evolving landscape is Hudson’s Bay, the owner of luxury department store Saks Fifth Avenue, which has been […]
The Body Shop’s Suppliers to Receive No More Than a Quarter of £219 Million Owed
The Body Shop’s Suppliers to Receive No More Than a Quarter of £219 Million Owed The Body Shop, a renowned ethical beauty retailer, is facing a challenging situation as it navigates through the aftermath of falling into administration. With approximately £219 million ($284 million) owed to its suppliers, the company has announced that these creditors […]