dearJulius.com Write For Us

Nine West confirms bankruptcy rumours, to sell some brands

SHARE:


Reuters

U.S. footwear and apparel company Nine West Holdings Inc filed for bankruptcy on Friday in a Manhattan bankruptcy court and said it would sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group.

The filing estimated assets of $500 million to $1 billion, with estimated liabilities of $1 billion to $10 billion.

In addition to Nine West, 10 affiliates filed for bankruptcy court protection, including Kasper Group and One Jeanswear Group, which includes the brands Gloria Vanderbilt and Jessica Simpson, as well as women’s denim owned by the Nine West and Bandolino brand names.

Nine West said it had received $300 million (213.01 million pounds) in debtor-in-possession financing and had entered a restructuring agreement. In the filing, the company said its business operations generated $1.6 billion in net revenues in 2017 with $1.6 billion in aggregate funded debt obligations.

In 2014, ​Sycamore acquired the Jones Group Inc, then the parent of Nine West, in a deal valued at $2.2 billion. Sycamore then sold high-end shoe wear lines Stuart Weitzman and Kurt Geiger, part of the Jones Group.

For years the women's fashion retailer and wholesaler has been losing market share amid slowing apparel sales and competition from e-commerce players.

U.S. retailers are going through a period of upheaval, with more than 15 filing for bankruptcy last year unable to stand up to competition from online shopping.

COMMENTS



Note: If you think this story need more information or correction, feel free to comment below your opinion and reaction.
Like & Follow to Stay Updated ...

Name

Arts & Culture,6,Beauty & Style,358,Books,3,Career & Education,31,Food & Drinks,63,Home & Garden,28,Lifestyle,598,Mulberry signs eyewear license with De Rigo,1,Relationships,5,
ltr
item
Lifestyle - U.S. Daily News: Nine West confirms bankruptcy rumours, to sell some brands
Nine West confirms bankruptcy rumours, to sell some brands
https://2.bp.blogspot.com/-m6hJxUZRTaw/WsuXsBv6m4I/AAAAAAAACeQ/lbd7oYnZhaQ83QJvV0MzimKgGL8c5JWRwCLcBGAs/s1600/Nine%2BWest.jpg
https://2.bp.blogspot.com/-m6hJxUZRTaw/WsuXsBv6m4I/AAAAAAAACeQ/lbd7oYnZhaQ83QJvV0MzimKgGL8c5JWRwCLcBGAs/s72-c/Nine%2BWest.jpg
Lifestyle - U.S. Daily News
https://lifestyle.dailynews.us.com/2018/04/nine-west-confirms-bankruptcy-rumours.html
https://lifestyle.dailynews.us.com/
https://lifestyle.dailynews.us.com/
https://lifestyle.dailynews.us.com/2018/04/nine-west-confirms-bankruptcy-rumours.html
true
1341902202059699904
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy