Store closing sale at an Hervé Léger in Las Vegas.
Tuesday was a busy day in court for BCBG Max Azria Global Holdings LLC’s bankruptcy case.The company — which went into its bankruptcy with about $200,000 in cash — now has assurance of post-petition financing with a judge approving an $80 million debtor-in-possession loan, $45 million of which is new money from the company’s lenders. BCBG earlier this month received court approval to tap into as much as $15 million on that $45 million in new financing in an interim order.The deadline for the company’s sale was also approved with the deadline to receive all bids May 19 with an auction, if necessary, to be held by May 24.BCBG is in the midst of shuttering 120 doors, which it received approval to do at the same time the judge overseeing its case allowed the company to begin drawing down on its DIP financing. The stores set to close are a mix of the company’s namesake brand along with outlets and some under the BCBGeneration and Hervé Léger banners. The closures are expected to be completed by the end of April.The company’s Canadian business — totaling 51 stores — will be wound down by May 31.Meanwhile, a lawsuit filed against BCBG by founder Max Azria and his wife and the company’s former creative director Lubov Azria continues. The Azrias filed their complaint last week. At the center of the issue are two contracts signed in 2015 between Lubov and the company. The company believes it should be allowed to toss out the employment agreement with Lubov, while keeping intact the separate contribution agreement related to the designer’s stake in the business and shareholder rights. Counsel for the Azrias argue the two contracts are related.BCBG filed for bankruptcy in early March, challenged by a tough competitive landscape and weighed down by expensive store leases at a time when chief restructuring officer Holly Felder Etlin said in court documents the business should have turned to focus on potential growth in wholesale and intellectual property deals.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye