TOKYO — Kanebo said it secured additional loans of up to 50 billion yen, or $455 million, from its lenders, led by Sumitomo Mitsui Bank.
The struggling cosmetics and textiles giant, with interest-bearing liabilities of about $5 billion, is planning to revitalize itself with support from the government’s Industrial Revitalization Corporation of Japan (IRCJ). The unguaranteed loans are to allow it to pay its suppliers while it waits for a decision by IRCJ on a restructuring plan.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"