All Corporate articles
-
News briefs
Saks Global to close 15 additional stores
Saks Global Enterprises, the troubled US multi-brand luxury retailer, said that it is closing an additional 12 Saks Fifth Avenue and three Neiman Marcus locations. On Feb. 10, the retailer had announced the closure of eight Saks Fifth Avenue and one Neiman Marcus locations in the first phase of its ...
-
News briefs
MySize’s stock has to regain compliance on Nasdaq
MySize, an Israel-based producer of AI-driven sizing solutions, footwear fit-tech and retail innovation, received on March 2 a notice from the Nasdaq stock market stating that the closing bid price of the company’s common shares has been below $1.00 for 30 consecutive trading days. MySize has been provided 180 calendar ...
-
ArticleOtto to axe nearly 460 jobs to reduce costs
Otto Group will cut nearly 460 additional full‑time jobs, largely at its Hamburg headquarters, as part of a sweeping restructuring program aimed at lowering costs and responding to weakening consumer demand and growing international competition. The German online retailer, which employs around 4,300 people in Hamburg, said it is ...
-
ArticleRoots explores a possible sale
Roots has initiated a strategic review that includes the possibility of being sold. The Canadian lifestyle brand has hired J.P. Morgan Securities Canada Inc. as its financial advisor and Torys LLP as its legal advisor for the review. The company said that it has decided to publicly announce the ...
-
ArticleAeffe receives expressions of interest from investors, plans to pick a buyer by end May
Aeffe, the troubled Italian fashion group that owns the luxury footwear brand Pollini, has received several non-binding expressions of interest from Italian and foreign investors with experience in the fashion industry. Aeffe also owns the high-profile brands Alberta Ferretti and Moschino. The information was released by Mimit, the Italian ministry ...
-
ArticleTheo Wormland to cease operations
Wormland, the German men’s fashion retailer, founded in Hannover in 1935, is shutting down after efforts to find new investors failed following its second insolvency. With no viable offers submitted, the provisional creditors’ committee has decided to close the nearly 90-year-old company and insolvency proceedings were formally opened by the ...
-
News briefs
Northern Irish retailer Houstons Footwear closes down
After 50 years of activity, Houstons Footwear, an independent retailer located on Strand Road in the North Irish town of Londonderry, also referred to as Derry, is closing down. In a post on Facebook dated Jan. 29, the retailer wrote: “To all our customers,After much thought, we want to let ...
-
News briefs
Diadora to cut 27 jobs
Diadora has reached an agreement with Italian trade unions to reduce its workforce by 27 employees from a total staff of 199 at its Caerano di San Marco headquarters in Treviso, citing the need for strategic repositioning in changed international markets. The deal, signed Feb. 5 with Femca Cisl ...
-
ArticlePölking files for insolvency again
The German shoe wholesaler Pölking has slipped back into financial distress, hit by a combination of rising costs, weakening consumer demand and delayed customer payments. The company once again filed for insolvency with the Osnabrück District Court less than three years after its first bankruptcy and just 20 months after ...
-
News briefs
The owner of the Inside fashion retailer files for bankruptcy protection
Liwe Española, the Spanish group that owns the Inside clothing stores, has filed for bankruptcy protection with a Murcia-based commercial court. The move comes after the same court rejected on Jan.9 a restructuring plan that Liwe had drafted with its advisors. On Jan. 19, Liwe said that filing for ...
-
ArticleWortmann starts building a new €20m warehouse
With a ground-breaking ceremony held on Jan. 15, Wortmann Group officially started the construction of its new smart warehouse at its headquarters and logistics facility in Detmold, Germany. The facility represents an investment of about €20 million, one of the largest single investments in Wortmann’s history, and sends “a clear ...
-
News briefs
Genesco to transform its IT operations
Genesco announced a “strategic transformation” of its information technology operations, which could lead to job cuts. The US footwear group said that it is “advancing to a new business model designed to improve speed and scalability, accelerate AI-enabled innovation and automation, and more closely align technology capabilities with the company’s ...
-
ArticleSaks Global files for bankruptcy
Saks Global, the US high-end department store group, has filed for bankruptcy and has announced the appointment of a new CEO and a financing commitment of about $1.75 billion to help fund a turnaround. Geoffroy van Raemdonck, the former CEO of Neiman Marcus Group, had been named as the ...
-
ArticleWormland files for insolvency again
Just over a year after emerging from bankruptcy, the German men’s fashion retailer Wormland has once again filed for insolvency with the Osnabrück District Court. Despite the filing, business operations will continue while the company seeks new investors, said the provisional insolvency administrator, Stephan Michels. All nine stores – ...
-
News briefs
OrthoLite opens a manufacturing site in North Vietnam
OrthoLite, the US-based supplier of sustainable open-cell foam insoles, announced the opening of a new manufacturing facility in North Vietnam. Located in the Ninh Binh Province, the site marks a key milestone in the company’s strategy to localize production and enhance service for regional and global footwear brands. The OrthoLite ...
-
ArticleASF 4.0 launches its Portuguese 'megafactory' after raising fresh cash
Advanced Shoe Factory 4.0 (ASF 4.0), a unit of the French textile producer Chamatex Group, said that it is proceeding with the launch of a “megafactory” in Portugal with the goal of producing 1.5 million pairs of sports shoes annually from 2030. The project is part of ASF 4.0’s ambition ...
-
News briefs
Hwaseung Footwear to build a plant in India
Hwaseung Footwear, a leading South Korean footwear manufacturer with producers for global brands such as Adidas, plans to invest 898 crore rupee (€87.1m) in a manufacturing facility in Kuppam, in the Indian state of Andhra Pradesh, to produce non-leather footwear. In the Indian numeral system, a crore corresponds to 10 ...
-
ArticleShoe Carnival to change name to Shoe Station
Shoe Carnival’s board unanimously voted to change the corporate name of the US footwear retailer to Shoe Station Group. The decision still has to be approved by shareholders at the annual general meeting scheduled in June 2026. ”We are building a simpler, more efficient company with one team, one infrastructure, ...
-
News briefs
Asos refinances its debt
Asos says that it has refinanced its asset backed loan facility into a secured term loan and delayed draw term loan (DDTL) with a new syndicate of private lenders. The new financing facilities comprise a £150 million (€170m) term loan and an £87.5 million (€99.1m) DDTL maturing in November ...
-
News briefs
Paul Green ends production at its Austrian HQ
The Austrian footwear brand Paul Green has announced it will cease production at its headquarters in Mattsee, near Salzburg, citing a persistently difficult economic environment, declining consumer spending and recently introduced US tariffs on shoe imports. The company said that despite extensive efficiency measures, the high costs of local ...
