It seems Bagir is losing patience. The tailoring specialist has been waiting several years now for an investment by Shandong Ruyi to complete and with no sign of that happening, it's taking action for breach of contract.
Aquascutum’s Chinese owner is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist. A Portuguese fabrics firm called Calvelex is expected to take it to court this week.
Struggling British department store group Debenhams on Thursday named turnaround specialist Stefaan Vansteenkiste as its new chief executive, promoting him from the chief restructuring officer role he took on in April.
China’s Shandong Ruyi is continuing its growth-through-acquisition strategy with the textile and apparel conglomerate saying it has finally completed its acquisition of Invista’s Apparel & Advanced Textiles business.