In Brief: Cpa Tko…The Verge Of Emergence…Bragging Rights
Kmart Holding Corp. dismissed PricewaterhouseCoopers LLP as its independent auditor last week and retained BDO Seidman LLP to perform that function, according to a Securities and Exchange Commission filing released Thursday....
Kmart Holding Corp. dismissed PricewaterhouseCoopers LLP as its independent auditor last week and retained BDO Seidman LLP to perform that function, according to a Securities and Exchange Commission filing released Thursday. Kmart said in the Form 8-K filing that certain PricewaterhouseCoopers reports for its predecessor company, Kmart Corp., which emerged from bankruptcy in May, “contained no adverse opinion or disclaimer of opinion and were not modified as to uncertainty, audit scope or accounting principle,” except for an “explanatory paragraph with respect to Kmart’s ability to continue as a going concern,” and that the bankruptcy court confirmed the company’s plan of reorganization, among other issues.
THE VERGE OF EMERGENCE:
A hearing on Kasper ASL’s reorganization plan is now slated for Nov. 19 after a federal bankruptcy court approved a third amended plan and gave the firm the go-ahead to distribute it. Any objections to the plan must be served and filed on or before Nov. 11, and the voting deadline is a day later. Kasper, which is in the process of being acquired out of Chapter 11 by Jones Apparel Group, said its equity holders may receive some cash for their shares under the plan, but no assurance was possible due to “significant contingencies.”
Continuing a tradition of recognizing achievements in retailing and other industries, the Black Retail Action Group will stage its annual awards dinner and scholarship fund-raiser called “Something for the Soul” Oct. 24 at the Sheraton Hotel & Towers in New York.?Business achievement awards will be presented to Terence X. Bogan, vice president and divisional merchandise manager of the women’s Co-op at Barneys New York; Jeffrey Tweedy, executive vice president of Sean John; Edward Wilkerson, design director at Lafayette 148; June Horne, designer buyer at Saks Fifth Avenue; Christine Meier, group vice president for central human resources & diversity, Macy’s East, and Everick Brown, owner and president of EB Home, who’ll receive the J.J. Thomas Young Innovators Award. Essence Magazine’s fashion director, Pamela R. Macklin, will be MC. Last year, BRAG awarded 15 scholarships to students interested in pursuing careers in retail and related industries.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@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