All Corporate articles – Page 23
-
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 ...
-
News briefs
Rumbo has gone into administration
Rumbo has entered into a voluntary arrangement with creditors in an effort to reorganize its business. According to La Verdad, which first reported the news, the case is being processed by the Commercial Court 1 of Murcia, in southeastern Spain, where the multi-brand shoe retail group is headquartered. The legal ...
-
News briefs
Showroomprivé launches €10 million capital increase
Showroomprivé, a French online retailer specializing in flash sales, launched a €10 million rights issue guaranteed by its founders David Dayan and Thierry Petit. The proceeds will finance the company’s general expenses. As of May 31, its net cash was €12.7 million. Shareholders can obtain 22 new shares for 17 ...
-
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 ...
-
Article
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 ...
-
News briefs
Global bankruptcies may rise by 35% over 2 yrs
Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...
-
Article
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, ...
-
News briefs
Schuh Schneider closes all its stores in Germany
The German shoe retailer Schuh Schneider GmbH from Reutlingen closed its eleven stores after filing for bankruptcy at the end of March. The decision to close the businesses stems from the lack of guarantees to ensure their continuation. According to press reports, the company’s boss Steffen Marsik was on track ...
-
News briefs
Tacco Footcare is bankrupt again
Tacco Footcare, a German shoe-care producer that had been bought by the Polish firm Kaps in February 2019, is bankrupt again. Tacco Footcare filed for bankruptcy due to insolvency and over-indebtedness on April 8 and proceedings were opened on June 23 by the district court of Bielefeld, where the company ...
