on Friday, announcing plans to sell the company to SPARC Group, the owner of retailers including Nautica and Aeropostale.
Lucky Brand currently operates 200 stores in North America, and as part of the bankruptcy proceedings will immediately shutter 13 of those stores. Matthew A. Kaness, Lucky Brand interim CEO and executive chairman, said in a press statement that the filing and closures are in part due to the impact of the coronavirus on performance.
"The COVID-19 pandemic has severely impacted sales across all channels," Kaness said. "While we are optimistic about the reopening of stores and our customers' return, the business has yet to recover fully. We have made many difficult decisions to preserve the company's viability during these unprecedented times."
He continued: "After considering all options, the board has determined that a Chapter 11 filing is the best course of action to optimize the operations and secure the brand's long-term success.
Are they going to move to an “online model” now like so many other companies?
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Lucky Brand files for bankruptcy, becoming the latest victim of the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If the pandemic continues for a bit longer many of the brands may become bankrupt soon.. Shit jeans anyway Corona didn't do it Government did Is that so hard to understand? Oh wait, you're fake news
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Lucky Brand files for bankruptcy, has offer to sell companyDenim retailer Lucky Brand Dungarees has filed for bankruptcy protection, blaming its troubles in part on the coronavirus pandemic, and said it has a deal lined up to sell the company. Lucky said it plans to close 13 stores and could shutter more during the bankruptcy process. Los Angeles-based Lucky The rich get richer, this is exactly how it works Not so Lucky
Источник: YahooNews - 🏆 380. / 59 Прочитайте больше »
Ford Bronco launching as a dedicated off-roading brand - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I wonder if they'll make an 'O.J' version.... Most popular car in America? The F-150. While $TSLA might be the future. $F is still a great bet right now!
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Australia to close NSW-Victoria border as coronavirus cases rise - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. horse shit
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Anti-mask customers force some restaurants to re-close dining rooms - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Show me the data on masks please.. we stick to the data as I remember It is difficult to eat wearing a mask.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »