All Corporate articles – Page 3
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 – ...
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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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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ArticleBirkenstock to open a new production facility in Germany
Birkenstock is set to open a new manufacturing plant in Wittichenau, in the Saxony region, dedicated to the production of its signature cork-latex footbeds. The company has acquired the former Maja furniture factory in the Brischko district for around €18 million. The 78,000-square-meter production and logistics complex has been ...
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ArticlePrimark could be spun off by its parent company
Associated British Foods (ABF) is mulling a split of its Primark and global food businesses under a review of its group structure, as it looks to unlock value in a tough consumer environment. ABF’s Chief Executive, George Weston, said the group’s “unique and exceptional food business” had been “less well ...
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ArticleClosed’s future is secured
After approximately two months of intensive investor negotiations, the German fashion label Closed has found a new owner. The German Federal Cartel Office has approved the sale of the insolvent brand to Capital-Home, the investment company of the entrepreneurial Böck family, majority owners of the Marc O’Polo Group. Under the ...
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R.M. Williams expands production capacity
R.M. Williams has opened a second workshop at its Adelaide site, bolstering the production capacity of the Australian bootmaker by 90 percent. The new 20,000-square-meter facility will increase the company’s manufacturing and distribution footprint to 29,500 square meters. In 2020, an Australian billionaire, Andrew Forrest, bought R.M. Williams, the producer ...
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ArticleRoyer goes into receivership
Groupe Royer, which is struggling with its debt burden, was placed into receivership by a commercial tribunal based in Rennes, Brittany, the region where the French footwear company is based. “To cope with the successive crises since 2022, the group has implemented various plans to revitalize its business and improve ...
