A U.S. judge on Monday approved a deal to rescue J.C. Penney from bankruptcy proceedings precipitated by the coronavirus pandemic, averting a liquidation that would have put the department store chain out of business.
Few people play as pivotal a role in Italian fashion as Raffaello Napoleone, the chief executive officer of Pitti Imagine, whose twice-a-year menswear salon is, to many people, the top-ranked fashion salon anywhere.
American off-price retailer Stein Mart Inc filed for Chapter 11 bankruptcy protection on Wednesday, becoming the latest apparel seller to crumble under the economic stress caused by coronavirus-led lockdowns.
Brooks Brothers has said that Authentic Brands Group and malls giant Simon Property Group have it in their sights with a $300m+ bid and plans to save “at least” 125 stores. But other bids could still derail the plan.