Corneliani is receiving an investment from the Italian government. Italy's Ministry for Economic Development will be granting the luxury brand a 10 million euro loan to help Corneliani continue operations. The news reported by WWD. Like many fashion brands, Corneliani suffered economic fallout from […]

After filing for bankruptcy earlier this month Brooks Brothers has reached an agreement for sale with multi-brand platform SPARC Group LLC. A motion has been filed with the United States Bankruptcy Court for the District of Delaware to attain approval for the sale of Brooks Brothers' assets for 305 […]

Finnish fashion group Stockmann has reported a half-year loss following store closures tied to the Covid-19 pandemic. The company reported a loss of 3.1 million euros, compared to a profit of 10.2 million euros for the first half of last year. Its revenue for the period was 182.7 million euros, down […]

Carter's reported its net profit for Q2 decreased on Friday. Compared with the same period last year, revenues also decreased by 29.8 percent. For Q2, the company's net profit was 8 million dollars, which decreased from 44 million dollars last year. Furthermore, revenues slipped to 515 million dollars. […]

French Connection has secured 15 million pounds in funding from Hilco Capital to help mitigate the impact of Covid-19. The company has put in place the working capital facility for the next two years, which it expects will be enough to cover its cash requirements. The retailer has been unable to receive […]

Second quarter sales at Skechers decreased 42 percent to 730 million dollars as a result of a 37.8 percent decrease in its international business and a 47.3 percent decrease in the company’s domestic business, reflecting the impact of the global pandemic. Net loss was 68.1 million dollars in the second […]

The company said on Thursday its Q2 net loss slipped. Revenues slipped by 42 percent from the same period last year. The company's net profit for Q2 was -68 million dollars, down from 75 million dollars a year earlier. Furthermore, revenues slipped to 730 million dollars. Compared to 6 percent a year […]

Stella McCartney could be the latest British fashion company to cut jobs and close stores in a bid to soften the financial impact of Covid-19. According to an internal note written by CEO Gabriele Maggio, seen by WWD, the company is planning a number of measures to cut costs. These include job cuts, […]

British apparel personalisation business Slick Stitch has acquired baby clothing brand Molly & Monty for an undisclosed sum. It is the latest addition to the Wolverhampton-based company’s growing e-commerce portfolio and follows its acquisition last year of children’s wear personalisation company DollyMix […]

Ascena Retail Group, inc. has entered into a restructuring support agreement (RSA) with over 68 percent of its secured term lenders. The company said in a statement that the plan is expected to reduce Ascena’s debt by approximately 1 billion dollars and provide increased financial flexibility to enable […]

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