The contemporary retailer, which was sold by Gap to private equity firm Altamont Capital Partners in 2021, has signed a deal to be acquired by another private equity firm, Regent, after failing to pay vendors for fall orders.
European Union member states on Thursday reached a deal on rules that would force large companies to check whether their suppliers use slave or child labour, or pollute the environment, but with an optional exemption for financial services.
While retail has been slower to adopt automation than sectors such as autos and electronics, it has been picking-up the pace — from the introduction of basic self check-out tills in stores to the use of robots and AI in supply chains.
Under the proposal, all 27 EU members will be required to reduce packaging waste per capita by 5 percent by 2030 and 15 percent by 2040 compared with 2018 levels. Packaging now accounts for 36 percent of municipal solid waste.