All Corporate articles

  • News briefs

    LVMH head sees company exiting the Covid-19 crisis stronger


    The French luxury goods group LVMH is coming out of the Covid-19 crisis “rather stronger” thanks to its worldwide presence, according to its chairman and chief executive Bernard Arnault . “We have for a long time had the strategy of covering most of the planet with our sites, ...

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    Debenhams collapses as JD Sports terminates rescue talks


    The British department store chain Debenhams is winding down operations and closing all 124 shops with 12,000 potential job losses after JD Sports Fashion ended talks about a rescue deal. Administrators have been trying to sell the troubled 232-year-old group since April, but have admitted that the ...

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    News briefs

    Two former Balmain executives launch La Ligne Numérotée


    Françoise Misiraca and Charlotte Sauvat , two former executives of the French fashion house Balmain , have launched the upscale women’s footwear brand, La Ligne Numérotée . Misiraca spent 18 years at Balmain, where she held various roles, including head of its men’s department. Sauvat has been a ...

  • Clarks

    ​Clarks’ CVA gets green light amid landlord fury over rent write-offs


    Creditors of the British shoemaker and retailer Clarks have approved a deal that will see control of the company pass to a private equity firm amid criticism from landlords over the scale of rent write-offs. Under the proposal, known as a company voluntary arrangement (CVA), rent arrears on ...

  • Von Wellx

    ​Von Wellx steps up production in India


    Von Wellx , the German orthopedic shoe brand owned by Casa Everz , has inaugurated a new production site in Agra, in the Uttar Pradesh state in northern India, as it ceases the production of footwear in China. The new factory in the Export Promotion Industrial Park (EPIP) in ...

  • News briefs

    Josef Seibel inaugurates Kenyan factory


    Josef Seibel Group inaugurated its factory in Ukunda, Kenya, on Nov. 9. The ceremony was attended by the owner of the group, Carl-August Seibel , and the chief executive Stefan Wentzel . The factory will produce leather school shoes destined to the Kenyan market under the Romika ...

  • l.k. Bennett

    L.K. Bennett plans to close stores, axe jobs


    Upmarket British retailer L.K. Bennett plans to close up to five stores and move its remaining shops to turnover-based rents under a proposed company voluntary arrangement (CVA). The plan will lead to a small number of job losses as the company tries to mitigate the financial impact of ...

  • Rumbo
    News briefs

    Rumbo to close down


    The Spanish footwear retailer Rumbo will close down after having failed to reach an agreement with its creditors to relaunch its business. The Murcia-based company has 68 stores and posted sales of about €25 million in 2019. Rumbo went into administration in June, but the court-appointed administrator, the legal ...

  • Frederic Levy Havaianas
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    Havaianas creates international division


    The Brazilian footwear group Alpargatas has created an international division for its flip-flop brand Havaianas . The division is based in Spain and run by Frédéric Lévy , a seasoned senior manager. Lévy was previously chief executive and president of Coravin , an America startup manufacturing products for ...

  • Mario Bruni

    Owner of the Mario Bruni brand fills for creditor protection


    Spring , the Italian shoe maker that owns Mario Bruni , a brand of quality dress and formal men’s shoes, has filed for bankruptcy protection in order to reach an agreement with creditors or restructure its activity. Based in the Marche region’s footwear cluster, Spring was created in 1956 ...

  • Clarks
    News briefs

    Clarks reportedly plans to close 50 stores


    The Hong Kong-based private equity firm LionRock Capital wants Clarks to reach a Company Voluntary Arrangement (CVA) with its creditors before investing into the British footwear group, according to Sky News . A CVA would enable Clarks to close up to 50 stores and renegotiate rents for ...

  • Melania logo

    Melania files for creditor protection


    Melania Italia , an Italian footwear company specializing in children’s shoes based in the footwear cluster in the Marche region, has filed for creditor protection. The company was founded in 1966 by Manfredo Gironacci , who is still at the helm. A court based in the town of Fermo ...

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    CCC Germany files for insolvency under self-administration after pandemic hits sales


    The coronavirus pandemic throws yet another footwear chain into disarray, after extended lockdowns last spring and a sluggish summer sent sales plummeting. German footwear retailer CCC Germany GmbH filed for self-administration proceedings under the German insolvency legislation at the Osnabrück District Court. The company, a subsidiary of ...

  • News briefs

    Dielmann to close 13 stores


    Schuhhaus Dielmann , the German footwear chain currently placed into administration after the launch of creditor protection proceedings, will close 13 stores by the end of the year. The shops operate under the names Dielmann , Dstep and Sommerkind . In a statement, the company added that clearance ...

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    Adidas issues maiden sustainability bond


    Adidas has announced the successful placement of its first sustainability bond, whose offer was more than five times oversubscribed. The €500 million bond carries a 0.00 percent coupon and has a duration of eight years. It is divided into five equal tranches and will be listed on the Luxembourg ...

  • News briefs

    Royer plans to cut 200 jobs


    The loss of a major distribution contract for New Balance in France, the Benelux countries and Germany and the crisis linked to Covid-19 have led Groupe Royer of France to start discussions with its staff about the dismissal of about 200 of its 500 employees. The loss of ...

  • VRG Rizzo

    VRG reaches deal with creditors, to proceed with capital hike


    The board of Venue Retail Group (VRG), a retailer of shoes, bags and accessories that operates in Sweden and Norway, has decided to proceed with a Swedish Krona 94.5 million (€8.9m-$10.4m) rights issue. The Swedish company has received subscription commitments and guarantee commitments totaling approximately SEK 73.5 million (€6.9m-$8.1m). ...

  • News briefs

    German shoe chain Dielmann seeks investors


    On Sept. 1, the Darmstadt District Court opened creditor protection proceedings for the local footwear chain Schuhhaus Dielmann and the sports retailer Sporthaus Robert Hübner . Self-administration was decided for both companies. The previous managements stepped down from both companies in June with the application of so-called protective shield ...

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    News briefs

    ​Ara Shoes wants to modernize operations and cut jobs


    Due to the coronavirus crisis, the German company Ara Shoes wants to accelerate the restructuring process it started in early 2020. This will include a workforce reduction at the Langenfeld site in order to compensate for the loss of sales this year and the negative forecast for the next ...

  • News briefs

    ​L.K. Bennett introduces cluster managers


    The British premium womenswear retailer L.K. Bennett has introduced cluster managers who will be responsible for more than one location. The move will result in 19 redundancies. The company said that the reorganization stems from a decline in trade in stores, while the retailer has seen a significant ...