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…
TORONTO, June 3, 2019 /PRNewswire/ –GreenSpace Brands (TSXV:JTR) (“GreenSpace”) today announced the completion of the final phase of the restructuring of its operating model, the appointment of 2 new Brand level Presidents, and the departure of its COO, Aaron Skelton to pursue other opportunities in the industry. The announced restructuring creates three new brand-level Presidents…
Pedestrians pass in front of a Forever 21 store in New York. Scott Mlyn | CNBC Forever 21 is exploring restructuring options to shore up its liquidity as the fast-fashion giant struggles with its business, a person familiar with the situation said on Monday. The company is in talks with private equity firm Apollo Global…
TORONTO, June 3, 2019 /PRNewswire/ — GreenSpace Brands (TSXV:JTR) (“GreenSpace”) today announced the completion of the final phase of the restructuring of its operating model, the appointment of 2 new Brand level Presidents, and the departure of its COO, Aaron Skelton to pursue other opportunities in the industry. The announced restructuring creates three new brand-level…
FINANCE Get all the latest industry news in your inbox. Specialty floral and gifting retailer FTD Companies Inc. has filed for Chapter 11 bankruptcy. In its filing in the U.S. Bankruptcy Court for the District of Delaware, FTD said it has made significant progress in reaching agreements to sell different parts of its business to…
AstiVita Limited (ASX: AIR) is an Australia registered company involved in the business of warehouse, distribution and importation of bathroom, solar and kitchen products to retailers, solar power dealers, hardware suppliers and plumbing merchants. It was officially listed on ASX in December 2009. On 31st May 2019, the company, by release, updated the market about…
Philip Green has insisted that the 100m he has promised to Arcadias pension fund represents the best outcome, as his retail empire faces a make-or-break vote on its future next week. The creditors of Arcadia, whose chains include Topshop and Dorothy Perkins, have to decide next Wednesday whether to accept a restructuring that will see…
FX Networks has restructured its top original programming ranks. The core team of executives Eric Schrier, Nick Grad and Gina Balian remains the same, with new titles for two of them. Eighteen-year FX veteran Schrier, most recently President of Original Programming for FX Networks and FX Prods., has been elevated to the newly created position…
Charles Stanley is set to spend 9.5m on restructuring its business but expects the changes to eventually lead to savings in excess of 4.5m a year. At the beginning of May the wealth management company announced a “major” restructuring project, seeking to achieve an increase of net profit margin to 15 per cent. In its…
Sir Philip Greens retail empire faces a crunch meeting with creditors this week as it tries to avert a collapse into administration which could put 18,000 jobs at risk. The group, which operates 570 shops, must win approval from 75% of its creditors, most of whom are landlords, for a restructuring which will enable it…