Still reeling from allegations of rape and sex trafficking against apparel magnate Peter Nygard, the Nygard Group of Companies filed a notice of intention to file a proposal pursuant to the Canadian Bankruptcy and Insolvency Act Tuesday night. A statement issued by a company spokesman stated the decision to restructure and seek financial support was done in order “to protect the livelihood of thousands of dedicated employees,” as well as retail customers, vendors and suppliers.
The statement added, “Nygard and the company look forward to exposing the extent of the alleged conspiracy, clearing Nygard’s name and the company brand, and restoring the company to its former glory. Nygard and the company thank the employees, retailer customers, vendors and suppliers who are standing with them against media bullyism and the ease at which, in today’s times, someone can be damaged by false information that is virally redistributed.
The incidents were alleged to have occurred in the U.S., the Bahamas and “elsewhere around the world.” According to the filing, “Nygard used his considerable influence in the fashion industry, his power through corruption of officials and a network of company employees under his direction, to groom and entice underage girls and women.”
A spokesman for Bacon said Tuesday that, “We are not responding to comments from Nygard, his spokesman or attorneys.” The statement put forth its own allegations, “With the paid for lawsuit against Nygard, the unfair publishing of The New York Times article, and the devastating media onslaught that merely republished the heinous allegations, damage was certain to occur. Although Nygard is supposed to be presumed innocent, following the filing of the recent lawsuits against Nygard, The New York Times article and the media onslaught afterward, a significant Nygard customer ceased doing business with the company.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »