Big M Inc., which operates the Mandee Shops and Annie Sez nameplates, filed for Chapter 11 bankruptcy court protection Sunday night and became the first retailer to file in 2013.The filing was in a Newark bankruptcy court. The Totowa, N.J.-based firm owes $15 million to unsecured creditors. It also owes $3.2 million to Salus Capital Partners and other secured lenders. The largest unsecured creditor is CIT Group/Commercial Services, owed about $2 million.WWD first reported on the firm’s financial distress in December 2011, but the company managed to work out arrangements with creditors. Big M has been operating under settlement agreements with creditors since the spring of 2012, but there were still some rumblings about distress in the markets.Glenn R. Langberg, chief restructuring officer of Big M, said in a statement filed with the bankruptcy court that the firm’s anticipated gross revenue for the year ending Jan. 26 is $192 million. Big M has 1,200 employees, with 490 full-time staffers.While Big M has been “victimized by an economy that reduced its customers’ disposable income and clothing spending,” like most other retailers, Langberg said the business was “severely impacted” by Hurricane Sandy and its aftermath. That storm resulted in the “closure of practically all of the debtor’s store locations in the tristate area. The majority of those impacted stores, in addition to the company’s office and distribution center, were unable to open and/or fully operate for over a week,” Langberg said.The company has a $13.2 million debtor-in-possession facility from Salus, and it intends to restructure its business, as well as consider “all strategic options,” Langberg said.Big M was founded in 1948 by the Mandelbaum family, and remains a privately held family-owned business. Ken M. Mandelbaum, Big M’s former chairman and chief executive officer, retired in September 2011. He was succeeded to the chairmanship by his cousin, Alan Mandelbaum, who was president of Mandee.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)