New York hedge fund Standard General asked a judge this week to prod American Apparel to more quickly move along with its liquidation.The request, filed in bankruptcy court, came in the form of an objection to American Apparel’s request earlier this month to have the judge overseeing its case extend the period of exclusivity for which the company would have to file its bankruptcy plan to July 12. The company argued it is focused on selling off and is close to deals on some of its stores, nitrogen oxide emission trading credits and some of the Garden Grove plant’s equipment. The company has also been holding store closing sales at the remaining 86 doors still open. The bankruptcy plan was originally due to the court March 14.Standard General argued the company has had enough time to produce a plan.“They have had ample opportunity to develop a plan and should present one or promptly step aside,” attorneys for the firm said in its objection.Standard General went on to say the company has shown “no evidence of progress toward a plan and no indication that they will need an entire additional four-month period to develop one.”The hedge fund has skin in the game, being part of the group of lenders that provided post-petition financing in the company’s first bankruptcy and continues to have a stake in the business that is now winding down. Standard General argued in its objection that further delays in filing the plan could impact payout to creditors such as itself the longer the case continues on.American Apparel in November filed for its second bankruptcy less than a year after emerging from the first. The company’s intellectual property and some of its equipment were sold off to Gildan Activewear Inc. via a bankruptcy auction. The $103 million deal closed in February. For More on American Apparel in WWD:American Apparel Sale to Gildan ClosesStandard General Blasts American Apparel LendersAmerican Apparel Layoffs Total 2,400Bitter End to American Apparel as Wind Down Accelerates
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)