The company has been trying to restructure its $685 million in debt for nearly a year. Guggenheim Partners holds about $475 million of the debt, with $230 million on a first-lien term loan and $245 million on a second-lien term loan. The balance was drawn down from a revolving credit facility. Talks last year included a refinancing that would convert the debt into equity, and that would have Guggenheim taking control of the company.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)