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 - Fashion retailer J. Crew Group Inc has won the support of more than 50 percent of its term loan holders for a deal to trim its $2 billion debt load and end intellectual property litigation, people familiar with the matter said Friday.
J. Crew had launched a debt restructuring deal targeting its term loan and unsecured bonds earlier this week to help it avoid bankruptcy by extending the deadline for debt payments. The deal already had support from major creditors GSO Capital Partners LP, the credit arm of buyout fund Blackstone Group LP, and hedge fund Anchorage Capital Group LLC.
The sources asked not to be identified ahead of an official announcement. J. Crew did not immediately return a request for comment.
By Jessica DiNapoli.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.