Fog Plan Cleared: London Fog Industries said Friday that its Chapter 11 plan of reorganization was confirmed by a Delaware bankruptcy court. The plan calls for unsecured creditors to receive 12 percent of the common equity of the reorganized company.
Since its voluntary filing for Chapter 11 on Sept. 27, 1999, London Fog has shuttered over 100 first line and factory outlet stores and cut its overhead costs. Only 35 factory outlet stores remain, which are focused on liquidating inventory.
William Dragon Jr., president and chief executive officer, said he expects the company to exit Chapter 11 by the end of the month. Seattle-based LFI makes outerwear under the London Fog, Pacific Trail and Black Dot brands, as well as Dockers and Levi’s under license.
Claiborne Taps Grossman: Looking to reinvigorate its signature business, Liz Claiborne said Friday it has hired Andrew Grossman as a consultant to its Collection division.
Grossman, who has held senior management roles at Giorgio Armani Corp., Chaus and Jones Apparel Group during his career, will work closely with division president Karen Greenberg, along with its design, merchandising and production teams.