By  on March 3, 2017

BCBG Max Azria Global Holdings LLC received interim court approval to draw down as much as $15 million on a $45 million bankruptcy loan as the company winds its way through Chapter 11.

That also came with permission from a judge to move forward with a plan to shutter 120 stores, most of those outlet and BCBG along with a handful under the Hervé Leger brand. The doors, the company said in court documents, have historically not turned a profit and racked up $10.3 million in losses for BCBG’s 2016 fiscal year. That accounted for 63 percent of the company’s overall losses. The store closing sales are expected to be completed by April 30.

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