Bankruptcy
Germany: footwear sales rose in 2023 but not yet to pre-pandemic levels
Despite a series of bankruptcies, footwear retail sales in Germany increased in 2023 by around 4% to 11.6 billion euros. However, they still remain below pre-pandemic levels
Rockport files for Chapter 11 bankruptcy proceedings
The Massachusetts-based footwear company filed for Chapter 11 bankruptcy in a District Court in Delaware. Meanwhile, its CEO, Gregg Ribatt, has resigned
German footwear manufacturer EOD declares insolvency
The company, known for the Groundies shoe brand, has filed for insolvency proceedings with the Freiburg District Court with the aim of restructuring itself to get back “on solid ground”
Former parent company of Reno also files for bankruptcy
Unable to overcome the challenges posed by the COVID-19 pandemic and the energy crisis, the German HR group filed for insolvency, following the path of its previously-owned footwear retailer, Reno
Pölking goes bankrupt
The footwear wholesaler has filed for bankruptcy due to the ongoing impact of the COVID-19 pandemic, joining the list of companies caught in a crisis in the German footwear sector
Reno's Austrian branch also declared bankruptcy
After the shoe retailer Reno filed for bankruptcy in Germany at the end of March, the company's Austrian subsidiary, HR Group GesmbH, decided as well to file for bankruptcy
Shoe retailer Reno declares bankruptcy
Just six months after changing ownership, the Osnabrück-based shoe retailer filed for bankruptcy amid a crisis in Germany’s footwear sector that led to a wave of insolvencies in recent months
Bluestar Alliance rescues Scotch & Soda
The US-based brand management company has announced the acquisition of the Amsterdam-based brand, just days after Scotch & Soda declared bankruptcy for its Dutch operations due to “severe cash flow problems”
Administrators appointed to liquidate Arcadia Group
Auditing firm Mazars has been appointed as liquidator to oversee the process. They will focus on what remains of Sir Philip Green’s collapsed Arcadia Group empire
UBS foresees 80 000 stores closures in the US by 2026
The analysis presented by the investment bank indicates that after the peak in closures registered in 2019, the scenario is not bright and shiny for the next 5 years. UBS is forecasting a 9% of the total current number stores to shut across the country by 2026
Great Britain with a record of 17 500 stores closing in 2020
According to new data by consulting firm PwC, Great Britain had an avalanche of store closures during 2020, with some 17 500 stores not resisting the impact of the pandemic. On the other hand, 7 655 opened, representing a net loss of 9 877 stores
Boohoo buys several brands from Arcadia
The United Kingdom-based online fashion retailer acquired Dorothy Perkins, Burton and Wallis' brands, its intellectual property and stocks for 25.2 million British pounds in cash
Asos buys Topshop and other Arcadia's brands
The deal includes Topshop, Topman, Miss Selfridge and HIIT. The brands were for sale after the Arcadia group collapsed into administration by the end of 2020
G-III enters the race to buy Arcadia
The New York-based group G-III Apparel is said to have entered the race to acquire Arcadia and to be among the top four candidates (Next, Boohoo and American-based Authentic Brands). However, G-III has not yet publicly confirmed
Arcadia’s Evans brand acquired by Australia’s City Chic for 23 million British pounds
The agreement includes the acquisition of the Evans brand, the eCommerce and wholesale businesses for 23.1 million British pounds in cash by City Chic. This deal, excludes the brick and mortar stores and follows Arcadia entering into administration a few weeks ago-
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