LOS ANGELES — Clothestime has once again found a lifeline.
The beleaguered, 250-unit apparel chain is under new ownership, with a fresh turnaround strategy. JM Associates, an apparel manufacturer in New York, has bought Clothestime’s assets and liabilities in a stock deal geared to infuse new capital into the roughly $150 million company and return it to its roots as a seller of junior fashions at rock-bottom prices.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)