Corporate and M&A – Page 20
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ArticleHotter Shoes to close 46 stores as CVA approved by creditors
UK footwear chain Hotter Shoes will press ahead with plans to close 46 stores after creditors approved a Company Voluntary Arrangement (CVA) to restructure the firm during the coronavirus pandemic. The CVA was approved by 99.5 percent of voting creditors, including an “overwhelming majority of landlords”, passing the legal 75 ...
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Chaussea obtains 128 La Halle stores
The French footwear retailer Chaussea is taking over 128 stores and 700 employees of the apparel and footwear retailer La Halle, which is being sold piecemeal after filing for insolvency. Founded in 1984 in Valleroy, near Metz, by Gaëtan and Michel Grieco, the sons of Italian immigrants from Basilicata, the ...
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ArticleScarpe & Scarpe seeks debt restructuring agreement with creditors
The Turin-based footwear and apparel retailer Scarpe & Scarpe has entered into a preliminary insolvency procedure, known pre-concordato or concordato preventivo in bianco, granting it temporary protection from creditors while seeking a debt restructuring arrangement. Usually, the procedure provides a company two to four months to reach an agreement with ...
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Partial management buy-out for Globus
Globus, the big Swiss department store chain, and its Navyboot and Schild subsidiaries are changing hands again, just a few months after the Austrian-based Signa Retail Group and Thailand’s Central Group joined forces to take over the Swiss group this past February from the previous owner, the Migros cooperative of ...
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Desma’s “factory of the future” is completed
Desma Schuhmaschinen GmbH, one of the world’s leading manufacturers of machines and systems for industrial shoe manufacturing, has completed its new production and office building in just one year. The manufacturing and commercial divisions are expected to move into the new premises, which are located in Achim near Bremen, by ...
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Antares eyes distressed Italian fashion assets
Italian private equity and debt-management group Antares is launching a new fund targeting investments among the country’s small and mid-sized financially-struggling fashion companies, whose ranks have grown with the Covid-19 pandemic. Antares has already raised €50 million in fresh cash for its “luxury and lifestyle” turnaround fund, largely with Italian ...
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ArticleChange of ownership for Clergerie
First Heritage Brands has sold Maison Clergerie, the French maker of luxury footwear, to French Legacy Group, an investment fund of Swiss-based Mirabaud Asset Management. The financial terms of the transaction could not be obtained. In 2011, Robert Clergerie, the designer and founder had sold his company to First Heritage ...
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Hotter Shoes submits debt restructuring plan to creditors
UK footwear chain Hotter Shoes has reportedly gone ahead with plans to file a company voluntary arrangement (CVA) proposal to creditors and shareholders seeking approval to close 46 stores as it deals with the impact of the coronavirus pandemic. The plan would leave the company, owned by Electra Private Equity, ...
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ArticleBeaumanoir to buy a large chunk of La Halle’s assets
Beaumanoir, a French fashion group that owns the brands Morgan, Cache Cache, Bréal, Bonobo and Vib’s, says that it has been chosen by a Paris-based court to take over a large part of the assets of La Halle, a French apparel and shoe retailer. The company is due to take ...
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Nike, Zara, Adidas are the most valuable fashion brands
Nike takes the top spot among fashion brands in the top 100 of the BrandZ ranking of the world’s most valuable brands, released by WPP and Kantar. It is followed by two European brands, Zara and Adidas. Nike managed to improve its valuation by 5 percent to $49,962 million, while ...
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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 ...
