- Sara Ehlers |
After filing for bankruptcy earlier this year, BCBG Max Azria has confirmed it will have mass layoffs in the next coming months. Starting May 11, the retailer will lay off approximately 116 people.
According to Apparel News, the layoffs will be across all departments for the company. While the company has undergone some recent changes, including hiring on Bernd Kroeber as its new Creative Director and Executive VP, BCBG Max Azria is still struggling to keep its business afloat. In comparison to its last layoffs in November, the company is letting go of seven less employees. Although the number is slightly less, it still doesn’t mean good news for the business’s future.
The brand declared bankruptcy on February 28 with approximately 500 million dollars to 1 billion dollars in debt, according to Apparel News. The layoffs are most likely a way to help restructure the company and help BCBG Max Azria come out of debt. Currently, the company has until March 30 for an entity to show expressions of interest. While the layoffs may help temporarily, the future of the company still doesn’t seem to be very promising.