After filing for bankruptcy protection on Friday, a lawyer for J.C. Penney said at a court hearing on Saturday that the U.S. department store chain needs to exit bankruptcy proceedings in a matter of months to survive.
Covid-19 forced the closure all of Delvaux’s stores in Europe and North America, and kept staff all in lockdown in Brussels, but the house has been busy. As of this Friday it will have its own e-commerce business.
As the Canadian retailer announced that it has completed its privatization transaction, it was also revealed that CEO Helena Foulkes will be stepping down, to be replaced by executive chairman Richard Baker.
U.S. department store operator Sears has reportedly reached a deal for a fresh financial lifeline totaling roughly $100 million from hedge fund Brigade Capital Management LP, as it tries to stabilize after bankruptcy.
Hudson’s Bay CoChairman Richard Baker won the support of proxy advisory firm Glass Lewis for the takeover of the Canadian retailer, just days after a rival adviser recommended stakeholders vote against the plan.
Renzo Rosso’s fashion group, which owns among others Diesel and Marni, will develop, produce and distribute through its subsidiary Staff International the collections of the French label designed by Christelle Kocher.