All Corporate articles – Page 3
-
News briefs
Frasers sets up a new financial arrangement
Frasers Group has now entered into a new term loan and revolving credit facility with its banks which replaces its existing financing facilities of £1.65 billion (€1.91bn), excluding Frasers Group Financial Services Limited’s securitised loan. The new facility, which is valid for three years, with two one-year extension options for ...
-
News briefs
Caleres increases and extends its revolving credit facility
Caleres has entered into an amendment of its credit agreement, which extends its senior secured asset-based revolving credit facility to June 2030. The US footwear company’s borrowing capacity under the agreement will increase by $200 million to $700 million, and includes an accordion feature, which allows Caleres to request an ...
-
ArticleAllbirds sets up new financing agreements
Allbirds entered new financing agreements to optimize its working capital and enhance its financial flexibility to support long-term growth plans. A new $75 million asset-based revolving credit facility with Second Avenue Capital Partners, consisting of a $50 million tranche and a $25 million accordion feature, replaces the company’s previous $50 ...
-
News briefs
Princesse tam tam, Comptoir des Cotonniers reportedly file for receivership
The French fashion retailers Princesse tam tam and Comptoir des Cotonniers have filed for receivership with a Paris-based court, the news agency AFP said citing a source close to the matter. The move was motivated by the ongoing deterioration of the retailers’ financial situation in a market that has not ...
-
News briefs
Schütze Schuhe celebrates 100th anniversary
Schütze Schuhe, one of Austria’s leading manufacturers of safety shoes, marked its 100th anniversary last month with a commemorative event at the Bruckmühle center in Pregarten, Upper Austria. Around 160 guests, including business and political representatives, customers, partners and staff gathered to celebrate the family-owned company’s milestone and its strong ...
-
ArticleGörtz closes its last store in Hamburg amid ongoing insolvency turmoil
Görtz has closed its store in Hamburg’s Europa Passage, the last remaining shop in the hometown of the troubled German footwear retailer. Leftover stock from the closed store has been transferred to locations in Lübeck and Oldenburg, which remain operational. According to insolvency administrator Gideon Böhm, some staff will continue ...
-
ArticleANWR Group streamlines its structure
The German buying group ANWR launched a structural reform aimed at boosting efficiency by streamlining operations. At its annual general meeting on May 26, the cooperative’s members approved the merger of ANWR Garant International GmbH (AGI) into ANWR eG, a move designed to cut the number of subsidiaries by approximately ...
-
ArticleLowa and Ecco close factories in Slovakia
The German outdoor footwear brand Lowa Sportschuhe GmbH and the Danish footwear brand Ecco are set to close their production facilities in Slovakia in the summer of 2025. The decisions raise questions about the future of the country’s footwear industry, which has been hampered in recent years by rising energy ...
-
ArticleCortina merges its private label activities
Cortina, a Belgian developer and distributor of footwear, has merged its Best Buy Shoes (BBS) and private label divisions into a single entity Cortina Private Label. “Under the new structure, Cortina Private Label will offer one streamlined collection with three distinct business models, each tailored to meet the needs of ...
-
ArticleAndré placed into receivership, again
The French footwear retailer André was placed in receivership on April 30 by a Paris-based commercial court. It is the third time in five years that the banner has been placed in receivership. On May 4, 2023, the Belgian company Optakare, run by Karim Redjal, was chosen by a Nanterre-based ...
-
News briefs
Jennyfer files for liquidation
On April 30, the Bobigny commercial court near Paris placed Jennyfer into compulsory liquidation, putting 999 jobs at risk. The French fashion brand can continue operating until May 28, when the court will examine possible takeover offers. “Exploding costs, falling purchasing power, changes in the textile market and increasingly aggressive ...
-
News briefs
VF cuts 400 jobs
VF Corp., the parent company of outdoor and lifestyle brands including The North Face, Timberland, Vans and Dickies, has laid off approximately 400 employees across its global operations, as reported by US trade publication Shop Eat Surf Outdoor. According to a company statement, the layoffs are part of VF Corp.’s ...
-
ArticleSemler relocates production to Hungary, cuts 25 jobs in Pirmasens
Carl Semler has decided to relocate most of its production to Hungary in order to secure its competitiveness, said the insolvent German footwear manufacturer. The Pirmasens manufacturing site will be retained, albeit with a reduced workforce. Shoe production will be concentrated in the company’s factory in Pécs, Hungary. This ...
-
News briefs
EEC launches a new company structure and advisory board
The European-Clearing-Center (ECC) has streamlined its corporate structure and now operates as a GmbH, or a limited liability company in Germany. The restructuring, according to ECC, aims at increasing efficiency and sharpening the strategic focus of the company, which acts as a platform for electronic data exchange between producers and ...
-
ArticleGerry Weber is insolvent again
Gerry Weber has slipped back into bankruptcy less than two years after its last insolvency proceedings, as disappointing Christmas sales and a significant drop in pre-orders for the third quarter of 2025, compared to the previous year, took their toll. The local court in Bielefeld opened insolvency proceedings under self-administration ...
-
News briefs
Sports Gear opens a factory in Portugal
Sports Gear, a Taiwanese group specializing in sports footwear and supplying major brands such as Adidas, Nike and Puma, has invested €15.3 million in a factory in the Portuguese town of Estarreja, the Portuguese daily Diário de Notícias reported. Inaugurated on March 7, the factory currently employs 20 workers, but ...
-
News briefs
Altofare reportedly to renegotiate its debt
Altofare, an Italian supplier of components to the luxury goods industry, including footwear, is preparing to renegotiate its debt with creditors, according to the news agency Bloomberg. The group has hired the consultancy KPMG and the law firm Chiomenti for advice on its debt, Bloomberg reported, citing people familiar with ...
-
ArticleForever 21’s US operating company files for bankruptcy
Forever 21’s US operating company filed for bankruptcy about five years after exiting its last Chapter 11 proceedings due to fierce competition from other fast-fashion retailers such as Shein and Temu. F21 OpCo, the operator of Forever 21 stores and licensee of the brand in the US, entered into a ...
-
ArticleGeox sees growth accelerating over the course of five-year industrial plan
Geox expects growth in sales and profits to accelerate over the course of a new five-year industrial plan, as the Italian footwear company moves from an initial phase focused on improving operating efficiency to one characterized by bolstering its presence on key markets and a new push for international expansion. ...
-
ArticleLudwig Reiter closes historic company headquarters in Vienna
Ludwig Reiter is closing its former headquarters in Vienna’s historic Dreimäderlhaus. After almost 30 years, the Austrian shoe manufacturer will leave the building at Schreyvogelgasse 10 in the Austrian capital’s city center at the end of the month. Built in the late 18th or early 19th century, the two-story townhouse ...
