MONTREAL — A weak Christmas season has forced two of Canada’s women’s clothing chains to seek court protection from creditors and another to lay off workers.
Cotton Ginny, a Toronto-based retailer of plus-size casual clothes that operates 300 stores under the banners Cotton Ginny and Tabi, has obtained court protection from creditors who are owed $30.4 million, including about $10 million to suppliers. All figures have been converted from Canadian dollars at current exchange rates.
The company intends to close about 100 outlets as part of a restructuring plan. The insolvent retailer will seek a buyer for the remaining stores or try to remerchandise them. The retailer has lost more than $13 million in the last two years.
"We are convinced that beginning this restructuring process is the best way to protect the valuable franchise we’ve spent more than 20 years building," the company said in a statement.
Au Coton, another women’s casual clothing retailer based here with 69 stores across the country, has also filed for protection for the second time in less than a year. It owes about $5 million. It first filed for protection last April when it operated 140 outlets. Now, it is being squeezed by other casual clothing retailers, notably Gap, Wal-Mart Canada and Zellers.
Au Coton’s U.S. subsidiary sought protection from creditors in 1993 before pulling out of the American market.
Les Boutiques San Francisco here also is faced with slumping sales and announced it was cutting 60 jobs in its headquarters and overhauling its high-profile downtown Les Ailes de la Mode department store.
The 184-store retailer, which operates under the San Francisco, L’Officiel, Bikini Village and West Coast Banners, said it will review all of its operations in the coming months.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)