H&M one of the largest fashion retailers in the world, with more than 4,400 namesake stores in 72 countries is outshining its competitor, Forever 21. As Forever 21 nears a possible bankruptcy, the fast-fashion brand is reportedly seeking help in the form of a private-equity bailout. Meanwhile, H&Ms parent company recently reported a net sales…
Forever 21 is exploring restructuring options to shore up its liquidity as the fast-fashion giant struggles with its business. The company is in talks with private equity firm Apollo Global Management about raising debtor-in-possession funds to provide financing should it file for bankruptcy. The talks come asthe apparel industry continues to struggle amid sweeping…
18,000 Arcadia group workers could be facing redundancy asSir Philip Greens firm delayed a crunch vote on restructuring plans for a week. The company said on Wednesday that it would adjourn a meeting of suppliers, landlords and other creditors voting on seven company voluntary arrangements (CVAs) until June 12. It said this would give it…
Arcadia Group, the retail empire owned by UK billionaire Philip Green, said a decisive vote over the fate of the business has been delayed until later this month in order to allow further discussions with some of its creditors. The company behind brands such as Topshop and Dorothy Perkins had been hoping its landlords would…
Sir Philip Greens Arcadia group has delayed a crunch vote on its restructuring plans, as the retailer remains locked in negotiations with landlords. The company said on Wednesday that it would adjourn a meeting of suppliers, landlords and other creditors voting on seven company voluntary arrangements (CVAs) until June 12. It said this would give…
Forever 21 is reportedly considering teaming up with a private-equity firm to finance a large-scale restructuring plan. Though the retailer has long been a favourite among teen shoppers, its lost its footing amid rising competition from other low-priced apparel stores and trendy e-commerce companies. We shopped at a Forever 21 store to see why the…
Forever 21 is reportedly considering teaming up with a private-equity firm to finance a large-scale restructuring plan. Though the retailer has long been a favourite among teen shoppers, its lost its footing amid rising competition from other low-priced apparel stores and trendy e-commerce companies. We shopped at a Forever 21 store to see why the…
NEW YORK–(BUSINESS WIRE)–CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, has announced the addition of four partners and principals to its Restructuring & Dispute Resolution practice. Cynthia Romano, CTP, Principal, will join Kevin Clancy in co-leading the practice, collectively responsible for strategic growth, client relations, marketing, and talent…
Forever 21 is exploring a restructuring deal to turn around its business, Bloomberg reported, citing people familiar with the matter. Forever 21 is a private company and does not release financials. However, in recent years the teen-focused chain has shown signs of struggle, especially in its international locations, where it has closed several stores. A…
Wells Fargo has restructured the leadership of its commercial banking operations as the San Francisco bank continues to shuffle the decks of its management ranks. Wells promoted five executives to newly created positions within commercial banking three are leaders of regional groups and two will have nationwide oversight roles. The promotions took effect Tuesday. The…