The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — J. Crew Group Inc. and the agent to its $1.57 billion term loan face a new lawsuit from funds affiliated with Eaton Vance Corp. and Highland Capital Management over the transfer of the retailer's trademark assets.
The lawsuit, filed in New York State Supreme Court on Thursday, seeks to find that a majority of lenders under the term loan violated the terms by directing the loan’s agent, Wilmington Savings Fund Society FSB, to take certain actions.
Eaton Vance funds hold around $100 million of the term loans, and Highland funds about $61 million, according to the filing.
By Tiffany Kary and Chris Dolmetsch; editors: Nikolaj Gammeltoft, Kenneth Pringle and Rick Green.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.