As Sears teeters on the brink of liquidation, its employees are pushing for a hardship fund they hope can replicate the success of bankrupt retailer Toys ‘R’ Us, whose workers collected $20 million in severance pay.
China's Fosun International announced on Wednesday the appointment of Eran Cohen to CEO of US luxury label St. John Knits. Cohen succeeds Bruce Fetter, who has retired after more than 15 years with the company.
U.S. fund managers are betting that rising wages and the effects of the Republican-led corporate tax cut will prove a lifeline to middle-market retailers who have struggled to remain relevant in the age of Amazon.
The Rockport Group is exploring its options, including a possible sale, after one of the U.S. footwear maker’s major debtholders took ownership of the company, people familiar with the matter said Wednesday.
The iconic Australian leather and accessories announced it has entered voluntary administration on Thursday, the latest Australian retailer to file for bankruptcy after a spate of localised brands did the same in 2017.
Relatively few early-morning shoppers turned out on Black Friday to mark the start of the U.S. holiday shopping season, as more people shopped online and the traditional rush was split by stores opening the night before.
Marc Lasry, the billionaire co-founder of Avenue Capital Group, said on Wednesday that the firm has invested in some of the approximately $4.8 billion in debt of luxury department store chain Neiman Marcus Group.