Otto to axe nearly 460 jobs to reduce costs
Otto Group will cut nearly 460 additional full‑time jobs, largely at its Hamburg headquarters, as part of a sweeping restructuring program aimed at lowering costs and responding to weakening consumer demand and growing international competition.
Roots explores a possible sale
Roots has initiated a strategic review that includes the possibility of being sold. The Canadian lifestyle brand has hired J.P. Morgan Securities Canada Inc. as its financial advisor and Torys LLP as its legal advisor for the review.
Aeffe receives expressions of interest from investors, plans to pick a buyer by end May
Aeffe, the troubled Italian fashion group that owns the luxury footwear brand Pollini, has received several non-binding expressions of interest from Italian and foreign investors with experience in the fashion industry. Aeffe also owns the high-profile brands Alberta Ferretti and Moschino.
Gordon Brothers buys Chinese Laundry after acquiring LK Bennett
Gordon Brothers, a US investment firm, has acquired the Chinese Laundry brand and related trademarks from CELS Brands with the ambition of providing “a growth platform for the contemporary footwear brand.” It also helped the brand sell its footwear inventory.
Debenhams plans £35m equity raise to bolster balance sheet
Debenhams Group, formerly known as Boohoo, is raising £35 million (€40m) from shareholders in an attempt to cut debt and accelerate its turnaround plan.
Theo 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 ...
Pölking 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 ...
Next buys UK shoe retailer Russell & Bromley for £2.5m
Next is buying the struggling footwear chain Russell & Bromley in a £2.5 million (€2.87m) pre-packaged bankruptcy deal that puts 33 shops and 440 jobs at risk.
The US kids footwear brand jbrds is up for sale
Mike Gugat, the co-founder and CEO of jbrds, a US brand of children’s shoes, announced that the company is up for sale.
Wortmann 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.