LEASES TO GO: Burlington Coat Factory and bankrupt Kmart Corp. will be in Chicago bankruptcy court on Sept. 25 seeking approval of Burlington’s assumption of leases for five former Kmart stores. Two of the leases are in Austin, Tex., while the...
LEASES TO GO:Burlington Coat Factory and bankrupt Kmart Corp. will be in Chicago bankruptcy court on Sept. 25 seeking approval of Burlington’s assumption of leases for five former Kmart stores. Two of the leases are in Austin, Tex., while the balance are for stores in Glen Oaks, N.Y., Orlando, Fla. and Lexington, Ky.
EXPANSION ORDER: Bankrupt Warnaco Group is seeking Manhattan bankruptcy court approval to expand the scope of employment of BDO Seidman in connection with its plan to exit Chapter 11 at the end of the month. According to court papers, the accounting firm, which has been working with Warnaco since July 2001, will provide enterprise value analysis and other financial projections that will be included in the firm’s plan of reorganization. A preliminary budget of $365,000 plus out-of-pocket expenses has been set for the firm’s accounting services.
MARZOTTO RESTRUCTURES: The Marzotto family is aiming to restructure its series of holdings in sectors as diverse as textiles, fashion and wine-making. One of the family’s holdings, Industrie Zignago Santa Margherita SpA, said it is offering to buy all outstanding shares in Marzotto SpA, the fashion group that owns Hugo Boss and Valentino. Zignago is offering $16.94 and one Zignago share for every three shares in Marzotto. If all Marzotto shareholders tender their shares, the offer will cost Zignago a total of $407.6 million.?Dollar figures have been converted from the euro at?current exchange. The Marzotto?board is slated to meet today to discuss the proposal.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew