It is going to be a very painful reorganization, as the company is bound to sell their flagship brand. Fashion group Nine West Holdings (run by a private equity fund since 2014) submitted a petition (as announced earlier this year) to join the Chapter 11 plan, which is a section of the United States Bankruptcy Code. As reported by the press, the group, which is currently restructuring their debt by gaining access to new credit assets, is planning to sell their profitless brands in order to focus their efforts on the profitable business. Hence, they are going to sell Nine West footwear brand as well as Bandolino accessories: allegedly, Authentic Brands group proved to be interested in buying them out, following a number of recent acquisitions.
Retail Apocalypse: Nine West Holding to join Chapter 11 plan while getting ready to sell flagship brand
