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.
LONDON, United Kingdom — Creditors of struggling British fashion retailer New Look approved its latest restructuring plan at a meeting on Tuesday, safeguarding the firm's immediate future, it said in a statement.
The company voluntary arrangement (CVA) plan involved landlords agreeing new turnover-based leases at 402 stores to help get the retailer through the coronavirus crisis.
At the meeting the CVA was approved by the requisite majority of New Look's unsecured creditors, it said.
By James Davey; editor: Kate Holton.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.