Corporate and M&A – Page 15
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ArticleNice Footwear issues €3 million in bonds to finance its development
Nice Footwear is launching a €3 million bond with an annual interest rate of 4.375 percent and a six-year maturity. The bonds, which have a face value of €100,000 each, will be traded on the Milan stock exchange. Under the terms of the transaction, the Italian company has the right ...
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André’s former head makes partial takeover offer
A Grenoble-based commercial court is expected to decide on July 24 on the future of the footwear chain André, which is currently in receivership. It filed for bankruptcy on March 23 after its owner Spartoo was unable to obtain sufficient financing to continue the business. André was losing money even ...
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Italian components group Margot looks to grow
Margot, an Italian group that makes metallic components for luxury leather goods, shoes and eyewear that is controlled by the private equity Mandarin Capital Partners, is looking to expand with an acquisition in the third or fourth quarter of this year, says Andrea Tuccio, a partner with Mandarin. The aim ...
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ArticleJB Martin closes its doors
JB Martin, a well-known French shoe company, has ceased all activities. The shoe brand was liquidated by the Paris Commercial Court on June 2. After several years of difficulties, Covid-19 was the last straw. Two weeks after the announcement of the receivership, the 125 employees of JB Martin received their ...
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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.
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Boohoo buys two brands, Oasis and Warehouse
In the wake of its capital increase, that raised £197.7 million (€220.8m-$248.0m) in gross proceeds on May 15, the U.K. online fashion retailer Boohoo has bought two brands, Oasis and Warehouse, for £5.25 million (€5.9m-$6.6m) from Hilco Capital. The two brands will be integrated onto Boohoo’s platform, benefiting from the ...
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ArticleLa Halle receives 25 bids for its assets
After having been placed into receivership, La Halle received 25 bids for its assets, which represent a significant part of its activity and would allow it to save more stores than in a previous bidding round.
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Hunter goes under review as CEO quits
Vincent Wauters, the former president of Arc’teryx who became the chief executive of Hunter Boot Ltd in 2016, will be stepping down “by mutual agreement” at the end of July to pursue new opportunities, said the Edinburgh-based company, adding that it is launching a “strategic review” of its operations. ...
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ArticleFootway wants to buy a streetwear specialist
The Footway Group, the increasingly international Swedish online shoe retailer that recently agreed to merge with Sportamore, wants to create a leading platform for e-commerce in sports and fashion by also acquiring an online retailer of streetwear and sneakers, Californian Roots, or Caliroots for short. Caliroots has been undergoing a ...
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ANWR Group grants KfW loans
The ANWR Group’s credit institutions, the DZB Bank and the Aktivbank, have received accreditation for the granting loans in behalf of KfW (Kreditanstalt für Wiederaufbau or Credit Institute for Reconstruction) a bank of the German government that provides low-interest loans to support German companies, generally start-ups and small and medium-sized ...
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ArticleWGSN sees three major consumer groups emerging from the crisis
The coronavirus pandemic has accelerated societal changes and is forcing industries worldwide to adapt to the resulting changes in consumption. Thus, WGSN has set out to predict what consumers will be looking for in the next couple of years.
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ArticleFerragamo calls back Michele Norsa as deputy chairman
Salvatore Ferragamo reformed its corporate governance and appointed its former chief executive Michele Norsa, 71, as executive deputy chairman, rekindling speculation of a possible change of ownership.
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La Halle receives 7 offers for 60% of its business
La Halle, the big French low-cost clothing, footwear and accessories retailer owned by Vivarte, will have to be sold piecemeal, while more time is being granted by a court to find a buyer for André, the more high-end shoe retailer, which is currently in bankruptcy proceedings.
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Clarks reshuffles its staff
Clarks has decided to eliminate a further 900-odd jobs around the world as part of a strategy to build a more “sustainable and successful” future for the company, placing its focus on the changing consumer needs. The new wave of layoffs follows 170 cuts already implemented at the end of ...
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J.C. Penney files for bankruptcy protection
Founded in 1902, J.C. Penney has filed for bankruptcy protection in the wake of the Covid-19 pandemic, following Neiman Marcus and J.Crew.
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Aldo Group files for bankruptcy protection to restructure
Montreal-based Aldo Group has filed for bankruptcy protection in Canada and in the U.S. as it prepares to restructure and stabilize its business after turnaround plans for its already loss-making business were derailed by the Covid-19 pandemic.
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Rohde plans e-commerce platform this year
The German shoemaker Rohde intends to launch a business-to-business (B2B) online platform this summer, followed by a business-to-consumer (B2C) site.
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Prada resumes production in Italy
Prada has launched a gradual reopening in Italy of its prototyping and sample-making departments, which are essential for developing its forthcoming footwear, leathergoods and apparel collections. It is also introducing serological testing of all employees.
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Boohoo hikes cash pile while Farfetch continues to burn cash
boohoo is building up its cash pile thanks to its highly cash-generative business model and is ready to go on an acquisition campaign. Meanwhile, Farfetch continues to burn cash.
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Caleres, Shoe Carnival boost credit lines
Caleres and Shoe Carnival expanded existing credit lines to ensure liquidity while stores remain closed during the Covid-19 pandemic.Shoe Carnival also eased the covenant on its credit agreement.
