Nine West
CheatSheet has reported that the shoe retailer has a debt worth $1.5 billion and is currently negotiating to restructure it. Bloomberg says that this includes selling parts of the company as well as filing for Chapter 11 bankruptcy. In its attempt to stay afloat, the company has sold off Easy Spirit, another brand it owns. I also ceased operation on all of its stores except for only 25 of them. In addition, The Washington Post says that the Nine West Holdings will shift its focus from shoes to its clothing and jewelry lines which includes brands like Kasper Grouper, Anne Klein, and One Jeanswear Group. The Post reports that the decreasing demand for sandals, ballet flats, and heels has affected Nine West Holdings’ sales. The changes in consumer interest have also played a huge part in the challenges that David’s Bridal is facing.
Nine West
David’s Bridal
These days, more and more brides opt to have more casual attires and cheaper events for their weddings. That’s why those in the wedding industry such as David’s Bridal are experiencing drops in their sales. According to CheatSheet, the company has a $520 million loan with is due in 2019 and a $270 million unsecured notes due in 2020. Scott Key, the company’s new CEO, might be doing some refinancing of their debts. RetailDive says that the wedding dress superstore sees some market and operational challenges: sales, margins and earnings dropping. In addition, David’s Bridal’s credit rating was downgraded by S&P Global in June 2018. They may have to consider other ways of surviving like Bon-Ton.
David’s Bridal
