NEW YORK — Stung by obligations connected to its credit card operations, Spiegel Inc. said in a regulatory filing Tuesday that it may not have sufficient funds for future operations and is actively seeking help.
According to the latest SEC filing, Spiegel is anticipating a liquidity crunch as a result of its inability to meet certain minimum-performance requirements in connection with some of its asset-backed securities transactions that underlie its credit card operations. First Consumers National Bank (FCNB), Spiegel’s special-purpose bank, issues private label credit cards and both MasterCard and Visa bank cards. About 41 percent of the company’s sales in 2001 were made via its private label credit cards.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
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