All Corporate articles – Page 17
-
ArticleOwner 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 under the name ...
-
News briefsClarks 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 the rest of the ...
-
ArticleMelania 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 approved the request ...
-
ArticleCCC 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 HR ...
-
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 sales will start in the ...
-
ArticleAdidas 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 Stock ...
-
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 the contract, ...
-
ArticleVRG 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). The ...
-
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 proceedings. The ...
-
News briefsAra 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 two ...
-
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 increase in ...
-
ArticleMK Gruppe and Merkur Shoe Group join forces
The German purchasing groups MK Gruppe and Merkur Shoe Group have struck a deal to work together in a bid to tackle and respond to the changes in the footwear market through a shared strategy. The collaboration is set to start with the orders for the autumn/winter 2021 season ...
-
ArticleObuv Rossii parent launches capital hike to finance its development
OR PJSC, the parent company of the Russian footwear group Obuv Rossii, is planning to place additional shares worth 2.8 billion rubles (€31.7m-$37.4m) to finance the group’s development. The company is offering 28,264,000 new ordinary shares, which corresponds to 24 percent of the previously placed ordinary shares. In 2017, OR ...
-
News briefs
BASF opens its first global footwear innovation center in Taiwan
BASF, the German chemical group, has opened its first global Footwear Innovation Center in Taiwan. The 7,000-square-foot facility, inaugurated on Aug. 11, is located within the footwear manufacturing site of its strategic partner Longterm Concept (LTC) in Changhua, Taiwan. The Footwear Innovation Center includes three main zones. The Design Zone ...
-
News briefs
Geox pays July wages of bankrupt logistics provider
Geox, through its unit Xlog, paid the wages for the month of July of about 380 employees of the logistics company Venere, a unit of the Milanese group CGS currently being liquidated after being declared bankrupt. The payment was reached after Xlog reached an agreement with the Treviso chapter of ...
-
News briefsCamtrade rebranded The Enjoiya Group
The U.S. women’s wholesale footwear firm Camtrade has changed names to The Enjoiya Group. The company manufactures and distributes three shoe brands, Enjoiya, Secret Celebrity and Soft Comfort. They have an emphasis on comfort and fit, with price-value also a key component in the market positioning. Enjoiya is the company’s ...
-
News briefsKavat closing down some showrooms in digitalization move
Kavat, the Swedish family-owned company based in the shoe-making town of Kumla, is closing down its traditional showrooms in Düsseldorf, Oslo and Gothenburg as it intends to rely on a new B2B platform, scheduled to come on stream in August, and using flagship stores as showrooms and meeting places with ...
-
News briefs
The shoe chains Sacha and Manfield go bankrupt in Belgium
The footwear chains Sacha and Manfield, representing a total of 17 stores and 140 employees, filed for bankruptcy in Belgium. But Termeer, the Dutch company that owns the banners, expects to restart the businesses. The chains’ stores in the Netherlands and their online activity are not affected by the filing. ...
-
ArticleAktiv Schuh files for bankruptcy as pandemic ravages sales
Aktiv Schuh filed for bankruptcy at the district court of Berlin-Charlottenburg on July 23, applying for self-administration due to an impending insolvency as a result a sharp decline in sales stemming from the restrictions caused by the coronavirus pandemic. After a promising start to 2020, sales dipped from March to ...
-
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 ...
