NEW YORK — Pennsylvania Fashions Inc. has emerged from bankruptcy proceedings with a new name, Rue 21 Inc.As reported, Rue’s parent, Pennsylvania Fashions Inc., filed for Chapter 11 in February 2002. The company elected to begin the new chapter of its retail history under its better-known nameplate.Attorney Rob Feinstein of Pachulski, Stang, who represented the unsecured creditors committee, said it was still unclear how much unsecured creditors would be able to recover. As part of the company’s plan of reorganization, it contributed $1.5 million in cash and notes to a litigation trust in connection with claims against former shareholders of Pennsylvania.According to bankruptcy court documents, there is also the possibility that a “fraudulent conveyance” lawsuit might be filed against the former shareholders in connection with the recapitalization of the company several years before it filed for bankruptcy.The recapitalization, Feinstein said, resulted in private equity firm Saunders Karp & Megrue becoming the majority shareholder. The equity firm is still Rue 21’s largest shareholder.According to Feinstein, Rue 21, based in Warrendale, Pa, operates 169 stores in 37 states and caters to customers between the ages of 15 and 30.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim