News Briefs – Page 63
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News briefs
Payless ShoeSource has obtained a term loan of $175 million....
Payless ShoeSource has obtained a term loan of $175 million. The American shoe retail chain will use the proceeds to pay a special dividend to its new shareholders, Golden Gate Capital and Blum Capital Partners. Last September, the two investment companies arranged a seven-year $305 million financing package to fund ...
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News briefs
A&G Realty Partners will handle the liquidation of the remaining...
A&G Realty Partners will handle the liquidation of the remaining 56 stores of Bakers Footwear Group, the American shoe retail chain that went bankrupt last October. A New York-based shoe producer with a showroom in London, Zigi Shoes, has reportedly emerged as a candidate for the locations. Founded in 1929 ...
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Lenzi Egisto, a major supplier of innovative textiles to the...
Lenzi Egisto, a major supplier of innovative textiles to the shoe industry, is going into liquidation. Its family shareholders, who refused to inject money into the company after the death of Egisto Lenzi in July 2009, have been asked to approve a proposal tomorrow to split the assets and sell ...
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Farida, the Indian footwear group, has set up a tannery...
Farida, the Indian footwear group, has set up a tannery near Addis Ababa in Ethiopia through its subsidiary in Singapore. The company sources all of its own materials through its subsidiaries. Farida focuses on exports, with 47 percent of its sales going to the EU. North America and Asia-Pacific each ...
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News briefs
Shyang Ju Fung, a footwear manufacturer based in Taiwan, is...
Shyang Ju Fung, a footwear manufacturer based in Taiwan, is ending production at its plant in Sukadamai, in the Tangerang region of Indonesia. Its 2,500 employees there have been laid off. It has been reported that Shyan Ju Fung closed the plant because of a series of industrial disputes there.
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News briefs
Native Shoe, the Vancouver company known for its colorful EVA...
Native Shoe, the Vancouver company known for its colorful EVA footwear, has signed a nonbinding letter of intent to sell a controlling interest to an investment group. Though specific terms of the deal have not been disclosed, Scott Hawthorn, the acting chief executive and majority investor, will sell his majority ...
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News briefs
Sixty Group has reached an agreement with all labor unions in...
Sixty Group has reached an agreement with all labor unions in Italy, after the long and intense negotiations that followed the group's request last September to reach a settlement with its creditors and plans for a drastic reduction of the company's activities in Europe. Under the agreement, a new company is due ...
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News briefs
Walter Burani and his son Giovanni have been sentenced to...
Walter Burani and his son Giovanni have been sentenced to six years in jail by a court in Milan for the fraudulent bankruptcy of the Mariella Burani Fashion Group (MBFG); its parent company, Burani Designer Holding; and its subsidiary Design & Licenses. Walter Burani was the chairman of the former ...
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News briefs
The ownership and management of Birkenstock Orthopedie, the holding company...
The ownership and management of Birkenstock Orthopedie, the holding company of the Birkenstock group, has changed. Stefan Birkenstock, one of the three Birkenstock brothers who have been running the company lately, has pulled out of the top management and sold some of his shares to his brothers Alex and Christian.They ...
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News briefs
E-Land has signed an agreement to acquire K-Swiss, the American...
E-Land has signed an agreement to acquire K-Swiss, the American athletic footwear company that owns Palladium, for about $170 million, representing a premium of 49 percent on the closing price of the the company's shares on the stock exchange. Company officials indicated that the deal could help maximize the potential ...
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News briefs
Sequential Brands Group has announced that it has closed the...
Sequential Brands Group has announced that it has closed the merger of Heelys into a subsidiary of Sequential. The company had entered into an agreement, dated Dec. 7, 2012, to acquire Heelys through a merger and in cash, subject to a number of terms and conditions that have since been fulfilled. ...
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News briefs
Members of the Merkur Group founded a new enlarged German...
Members of the Merkur Group founded a new enlarged German buying group for large shoe retailers, the Merkur Shoe Group (MSG), at the beginning of this year. All the members of MSG are shareholders of the new company. Members of MSG are Fink Schuhe+Sport, Leiser, Salamander, Schuhof, Sutor, Schuhpark Fascies, Fritz Frank Schuhe+Sport ...
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News briefs
Great American Group will handle the liquidation of the inventory...
Great American Group will handle the liquidation of the inventory of Bakers Footwear Group at the retailer's 56 remaining stores, located in various U.S. states, as well as online at Bakersshoes.com. On Jan. 15, a bankruptcy judge in St. Louis signed a Chapter 7 order allowing Bakers to conduct going-out-of-business ...
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News briefs
After Sixty Group, another sportswear firm from the Marche region...
After Sixty Group, another sportswear firm from the Marche region is in financial difficulties. The Fornari Group, owner of the Fornarina brand, has presented a restructuring plan in order to obtain protection from its creditors. The company, whose footwear lines account for one-third of the turnover, says it has suffered ...
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News briefs
Karl Lagerfeld, Fendi's artistic director, announced that the Italian fashion...
Karl Lagerfeld, Fendi's artistic director, announced that the Italian fashion house will finance the renovation of the Trevi Fountain in Rome, one of the symbols of the city and of its cultural and artistic heritage. The 300-year-old monument was famously featured in a scene of one of Federico Fellini's iconic ...
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News briefs
From this year's spring/summer season, all of Liebeskind's shoes are...
From this year's spring/summer season, all of Liebeskind's shoes are manufactured in Europe, mainly in Italy and Portugal. Previously, they were partly made in Asia. The change to Europe was mainly decided to react help the company to react more quickly to market changes. For the coming autumn/winter season, Liebeskind ...
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News briefs
Gladstone Capital Corporation has bought a loan from one of...
Gladstone Capital Corporation has bought a loan from one of the existing lenders of Allen Edmonds Shoe Corporation, thus investing $19.5 million in this American manufacturer of premium men's footwear and accessories. Allen Edmonds, a company in the portfolio of Goldner Hawn Johnson & Morrison, was predicting a 20 percent ...
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Salvatore Ferragamo has increased its financial stake in its joint...
Salvatore Ferragamo has increased its financial stake in its joint venture for Greater China from 50 to 75 percent, buying the shares from its longstanding partner for the region, Imaginex Holdings. The joint venture manages more than 100 Ferragamo stores in China, Hong Kong, Taiwan and Macao. The Italian company ...
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Since Jan. 1, Mexx has a new licensing partner for...
Since Jan. 1, Mexx has a new licensing partner for its footwear. A newly founded company, B.S.I Branded Shoes International, has taken on the license under the management of Andreas Neuhaus. In 2010, the footwear license was taken away from the former Dutch-based license partner, Mexx Shoes BV, which was ...
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News briefs
LVMH has started preparations to erect a new production center...
LVMH has started preparations to erect a new production center for Berluti footwear in Gaibanella, near the Italian city of Ferrara. The facility is expected to come on stream in the course of 2014. Specializing in the manufacture of high-end handmade shoes, the new factory will employ more than 200 ...
