Even with the filing of a prepackaged Chapter 11 bankruptcy petition in Manhattan federal court Sunday, serious questions remain about the lender’s business, which is responsible for about 60 percent of factoring volume to the U.S. apparel industry — including the status of new contracts. And a sale of the factoring unit, considered CIT’s crown jewel, cannot be ruled out.
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)