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.
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)