MAGLI’S NEW DIGS: Today, Italian footwear and accessories firm Bruno Magli is opening its second Manhattan unit at 789 Madison Avenue. The 5,000-square-foot boutique is spread over three levels, and design elements draw from the retail concept the company introduced at its Florence, Italy, boutique last November. The decor is gray, brown and red, and wooden Louro Preto frames create the main display areas for shoes and leather goods. Customers will find the brand’s full assortment of shoes, handbags and outerwear. The New York opening is part of Magli’s retail growth strategy, which includes a store in Honolulu opening by yearend, and two others — in Las Vegas and Beverly Hills — next year.THROWING IN THE TOWELS: WestPoint Stevens Inc. on Sunday filed for Chapter 11 bankruptcy protection and its chief executive officer Holcombe Green resigned. Chief operating officer M.L. Fontenot will become interim ceo and new independent members will be added to the board of directors, the company said. As part of the filing with the U.S. Bankruptcy Court for the Southern District of New York, the West Point, Ga.-based textile and maker has arranged commitments for up to $300 million in debtor-in-possession financing from a group of banks led by Bank of America and Wachovia, in order to continue normal operations. A predecessor company with a substantial apparel fabrics business, WestPoint Pepperell, merged with Valley Fashions Corp. upon the latter’s emergence from bankruptcy in 1992 following investor William Farley’s hostile takeover attempt in 1989.
This story first appeared in the June 3, 2003 issue of WWD. Subscribe Today.