Restructuring
German shoe wholesaler Pölking ends insolvency proceedings
After 14 months of self-administration, the German shoe wholesaler Pölking has emerged from insolvency and has repositioned itself to adapt to new market conditions
Reno completes partial restructuring
The footwear retailer has finalised a partial restructuring, keeping more than 20 stores. Meanwhile, the media reported that dozens of new creditors have registered their claims in the insolvency proceedings
Britain loses 6 000 retail stores in 5 years
New estimates from the British Retail Consortium (BRC) indicate that 6 000 storefronts were lost in the country in five years. The rise in the cost of living has led to short confidence amongst consumers and less spending, experts point out
WoolOvers Group rescues Hotter Shoes
The British footwear brand, until now run by the struggling Unbound Group, has been rescued by the natural knitwear brand WoolOvers, in a pre-pack deal worth 6.7 million British pounds (7.7 million euros)
adidas to merge Canadian and US operations
The German-based sportswear company has confirmed the news by Retailer Insider that it plans to merge both businesses as part of a major organizational change to boost efficiencies
Arnault restructures holding company to ensure family control of LVMH
The French billionaire Bernard Arnault is turning his holding company Agache into a joint-stock partnership to guarantee that its control over the LVMH group will be maintained in the long term
Aldo Group completes restructuring process
The Canadian-based footwear and fashion accessories group announced that it successfully exited the restructuring process launched in May 2020 when it filed for credit protection amid the COVID-19 pandemic
Authentic Brands Group valued at 12.7 billion US dollars
The retail conglomerate, whose portfolio of brands includes Forever 21 and Barneys New York, is delaying its planned initial IPO and selling major equity stakes in its business
Gap to close 19 stores in the UK and Ireland
The San-Francisco headquartered fashion group said it has plans to close 19 stores in the UK and Ireland next month as part of a restructure process with the aim to return to growth
Will Authentic Brands buy Reebok for 1 billion US dollars?
According to what is being reported by the New York Post, the group owning labels such as Nine West and Barney’s has made a proposal of 1 billion US dollars to acquire the sports brand from the adidas portfolio
JCPenney to close 152 stores and cut 1 000 jobs
The US-based retailer is becoming a smaller operator as it goes through a bankruptcy restructuring. JCPenney plans to lay off about 1 000 employees as it shuts down more than 150 stores
RTW Retailwinds voluntarily files Chapter 11 Bankruptcy
As a result, the retailer expects to close a significant portion of its brick-and-mortar stores. Company expects to fully repay approximately 12.7 million US dollars in remaining loan outstanding
T.M. Lewin to close all UK stores
Britain-based menswear brand T.M. Lewin will close all its stores permanently. The brand will remain on the online sphere, its restructurer said on Tuesday
Macy’s announces restructuring plan
The New York-based retailer announced it will eliminate approximately 3 900 corporate and management roles. With the actions announced Macy's anticipated to create approximately 630 million US dollars per year in savings
JCPenney to close 242 locations
According to a filing with the Securities and Exchanges Commission, retailer J.C. Penney, which recently filed for bankruptcy protection, plans to close more than 200 locations-
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