All Corporate articles – Page 7
-
News briefs
German shoe chain Gero Mure files for bankruptcy
The German shoe chain Gero Mure has filed for bankruptcy as rising costs, online competition and the lingering effects of the Covid-19 pandemic put a strain on footwear retail. Around 40 employees across six stores – two in Mannheim’s Planken shopping street, two in Baden-Baden, and one each in ...
-
News briefs
Gucci may return to growth in H2 of 2025
Gucci is likely to be stuck in its turnaround for a while due to a tough luxury-demand environment and the time it will take for new products to ramp up, according to the broker RBC Capital Markets. Gucci is not expected to return to revenue growth until the second half ...
-
News briefs
Allbirds carries out a 1-for-20 reverse stock split
Allbirds proceeded with a 1-for-20 reverse stock split for its Class A common stock and Class B common stock. The reverse stock split was carried out to bring the Californian footwear company into compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. Allbirds’ ...
-
ArticleCoats fully derisks its pension scheme, expects higher cash generation
Coats has de-risked its benefit pension scheme by insuring future liabilities. The move is expected to boost the group’s cash generation which can be allotted to hike investments or shareholder remuneration. The British industrial thread and global footwear component manufacturer said that the trustee of the Coats UK Pension Scheme ...
-
ArticleC-Suite interview: Being listed on the stock market improved our governance - Nice Footwear
The Italian footwear company Nice Footwear was listed on the Milan stock exchange for just over a year from Nov. 18, 2021 to March 3, 2023, when it was delisted following a public tender offer (PTO) launched by the Italian private equity firm Palladio Holding to buy out the minority ...
-
ArticleEmerging designer: Socque rocks the classics
The Covid-19 pandemic that broke out towards the end of the first quarter of 2020 in Europe, and the subsequent related lockdowns, prompted many to make major life changes. Laure Chareton’s and Camille Cour’s response consisted of launching a high-end women’s footwear brand. After a decade of helping others run ...
-
News briefs
Ted Baker closes all its stores in the UK, Ireland
Ted Baker, the troubled British fashion retailer owned by the US group Authentic Brands Group (ABG), will close on Aug. 20 the 31 stores it still operates in the UK and Ireland, which could result in more than 500 layoffs, according the consulting and advisory firm Teneo, which is Ted ...
-
News briefs
Berkemann and Everybody part ways
The German comfort shoe manufacturer Berkemann Group and the Italian women’s shoe brand Everybody have decided to dissolve the joint venture they formed in 2021. Under the partnership, Everybody’s’ Venetian designer, Gianni Ziliotto, was in charge of design and product development in Stra, Italy, while sales, customer service, accounting ...
-
ArticleEsprit’s Dutch subsidiary files for bankruptcy
The Netherlands-based division of the fashion chain Esprit has filed for insolvency with the Amsterdam court as a wave of bankruptcies continues to rock the retailer. Approximately 30 stores in the Netherlands, including Esprit stores and other retailers, still sell Esprit products. A bankruptcy administrator will explore possible solutions, ...
-
News briefs
Austrian textile and shoe retailer Vianello files for bankruptcy
The Austrian fashion retailer Vianello has filed for bankruptcy after taking a hit from falling sales amid a spike in costs. The Klagenfurt Regional Court opened restructuring proceedings without self-administration for the Carinthian textile and shoe chain. Sixty-two employees and 40 creditors are affected by the insolvency, with ...
-
News briefs
Superga and Sebago licensee CMH Consulting files for bankruptcy
Superga and Sebago’s licensee CMH Consulting, Management and Handel has filed for bankruptcy. The company, based in Kufstein, Austria, has held since 2013 the license in Germany and Austria for the two brands owned by the Italian group BasicNet. CMH Consulting applied for restructuring proceedings without self-administration. Around ...
-
ArticleEsprit’s Austrian subsidiary files for bankruptcy
Esprit’s Austrian subsidiary, Esprit Handelsgesellschaft m.b.H., has filed for bankruptcy at the Salzburg Regional Court. The announcement follows the insolvency application filed in May by the parent company Esprit Europe GmbH, headquartered in Ratingen, Germany. The bankruptcy affects 12 directly operated stores across Austria and approximately 170 employees. ...
-
News briefs
Deckers plans a 6-for-1 share split
Deckers Brands’ board of directors has approved a six-for-one forward stock split. The US footwear company intends to seek shareholder clearance for the amendment at its upcoming annual meeting of stockholders, to be held on Sept. 9, 2024. Subject to final approval by the New York Stock Exchange, trading ...
-
ArticlePölking ends insolvency proceedings
The German shoe wholesaler Pölking has completed its insolvency proceedings after 14 months of self-administration. The proceedings were lifted by the Osnabrück District Court after creditors in early May approved the company’s insolvency plan. As part of the reorganization, Pölking acquired four stores of its sister company Lemax ...
-
News briefs
Vamos and Groundies not affected by Weltbild’s insolvency
The sneaker label Vamos and the barefoot shoe brand Groundies were not affected by the insolvency of part of their parent company, the e-commerce holding company WB D2C Group, according to media reports. The German retailer filed for bankruptcy last month for a second time in ten years as ...
-
ArticleFootway transfers e-commerce business to new corporate group
Footway Group AB announced on July 4 that it is separating the company’s e-commerce business as part of a strategic review. The separation is in line with the Swedish company’s efforts over the last four years to split e-commerce and platform into separate business areas. The company’s platform has grown ...
-
ArticleShoes For Crews emerges from Chapter 11 process after asset sale
Shoes For Crews, a US firm specializing in slip-resistant footwear, said that it has completed the sale of substantially all of its assets to its first lien secured lenders via a stalking horse credit bid. The sale marks the company’s emergence from its Chapter 11 process. Through the transaction, the ...
-
News briefs
Self-administration proceedings opened for Sør
The Mönchengladbach District Court has opened self-administration proceedings for Bonavest GmbH, the owner of German fashion retailer Sør. Bonavest filed for bankruptcy in March this year as falling sales, high rents, as well as increasing energy, logistics and personnel costs took a heavy toll on the company. The ...
-
ArticlePittarosso’s debt restructuring plan cleared by Italian court
A Padua-based court has approved a composition with creditors presented by Pittarosso. At the end of last year, 93 percent of creditors had approved the plan presented by the Italian footwear retailer with the support of Responsible & Sustainable Corporate Turnaround Fund (RSCT). Established in 2020, RSCT is an Italian ...
-
News briefs
IKKS obtains capital injection, debt write-off
IKKS has convinced its creditors to waive their claims and investors to inject funds, the chairman of the French fashion retailer, Ludovic Manzon, told the news agency AFP. “Following a cash injection into the capital and the waiver of debts, we will be able to focus on the essentials, namely ...
