Neiman Marcus’ Restructuring Plan Gets Approval
Neiman Marcus has received court approval for its plan to reorganize in Chapter 11. The luxury department store chain, which filed for bankruptcy in May,...
Category : Retail
Ann Taylor May be Out of Bankruptcy Before Thanksgiving
Bankrupt Ascena Retail Group has a hearing on Oct. 23 to confirm its reorganization plan and, once approved, can expect an exit court proceedings about...
Holiday Sales Likely to See 1% to 5% increase: Deloitte
It is expected that holiday sales are likely to increase between 1 and 5%, and Deloitte’s overall sales forecast between 1,147 and 1,152 billion dollars...
DUTY FREE SHOPPING IN UK TO END COVID 19 IMPACT LUXURY BRANDS
The UK Government announced that tax free shopping in the UK will end on 31st December this year. All overseas visitors will no longer be...
Victoria Secret UK Secures Itself from Bankruptcy
As per the new deal signed with Next Victoria Secret which has a store in MIlton Keynes, will continue to have a high street presence....
AMERICAN EAGLE ANNOUNCES CLOSURE OF 50 STORES Company Reports Losses in Second-Quarter
American Eagle Outfitters Inc. reported smaller-than-expected second-quarter losses and sales that beat expectations, boosted by intimates brand Aerie. On the company’s earnings call with analysts,...
RELIANCE RETAIL ACQUIRES FUTURE GROUP AT RS 24,713 CR
Mukesh Ambani-led Reliance Industries said will acquire the retail and wholesale business and the logistics and warehousing business of Future Group in a deal valued...
Myntra Fashions acquires a 100 percent stake in Deepika Padukone’s ‘All About You’
Myntra Fashions has reportedly acquired a 100 percent take in Deepika Padukone’s ‘All About You’ for an unspecified amount, in what is one among a...
HAS THE RETAIL APOCALYPSE JUST STARTED?
The effect of Covid pandemic is showing real effect. After the trail of bankruptcies and closures, now job losses have begun at some of the...