Frederick’s of Hollywood Group Inc. got itself some breathing room.
The company sold $5 million of convertible preferred stock to TTG Apparel, an investment firm run by Michael Tokarz, who now controls about a quarter of the company’s shares. The preferred stock is convertible into 4.8 million shares of the company’s common stock at a conversion price of $1.05 a share.
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)