Shareholders representing a majority of Choo’s equity voted in favor of the merger.
A sign of confidence in its own business, the company’s filing also raised questions about the staying power of accessible fashion brands over the longer term.
Retail and luxury stocks were also mostly down in morning trading on Friday.
The company continued to operate at a loss in the first half of the year, but saw an improvement in earnings before interest, taxes, depreciation and amortization driven by the group’s restructuring.
The leather goods maker sees underlying strength in high-end markets despite global volatility.
Retail and luxury stocks were uneven in late morning trading.
After a tough 2016-17, the luxury giant returned to double-digit growth.
The recovery for unsecured creditors is expected to be around 5 cents on the dollar.