WASHINGTON--Tultex Corp., Martinsville, Va., is restructuring its finances with a $115 million offering of senior notes due in 2005, according to a registration statement filed with the Securities and Exchange Commission this week. Over the last two years, Tultex has violated financial covenants of a term loan due July 31, 1996, a revolving credit facility and 8 7/8 percent senior notes due July 1, 1999, the filing said. The new debt will have a longer maturity and more flexibility, it said. Tultex has also agreed to a new three-year, $225 million revolving loan facility to replace a facility for the same amount that expires Oct. 6 of this year. The new interest rate will range between prime plus 0.5 percent and prime plus 1.625 percent. Tultex will take a charge against earnings to offset the costs of terminating its earlier arrangements, the filing said. The charge would have totaled $5.5 million as of Oct. 1, 1994. Rising raw materials prices, industry competition and a declining market for activewear contributed to a net loss of $548,000 in the first three quarters of 1994, compared to net income of $3.7 million in the comparable 1993 period, the filing pointed out. During the second quarter of 1994, the company suspended dividend payments on its preferred and common stock, it added. The deal is being underwritten by J.P. Morgan Securities Inc. and Nationsbanc Capital Markets Inc. A company spokesman said Tultex's sales mix is 69 percent men's; 16 percent women's, and 15 percent youths' and children's.--Fairchild News Service
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia