NEW YORK--Gantos Inc., the 114-unit women's chain, will revise its plan of reorganization and postpone its emergence from bankruptcy due to disappointing October sales and unrest among certain creditors. The chain, based in Grand Rapids, Mich., filed for bankruptcy in November 1993. Last September, it said it expected to emerge from Chapter 11 early in 1995. However, after October sales dipped 8 percent to $14 million, Gantos said it would file a revised plan "in the next several weeks." Adam Moskowitz, an analyst with BDS Securities, said that if an agreement over the valuation of the payout to unsecured creditors was not reached in the next couple of weeks, Gantos may be forced to wait until after Christmas to file the revised plan. Gantos filed a Chapter 11 plan offering cash, debt and equity on Sept. 29, detailing a 100 percent to unsecured creditors. However, certain creditors claim the value of the payout is far short of 100 percent.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.