×
1 236
Fashion Jobs
NIKE
HR Operations Consultant, London
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 7.5 Hours - Part-Time - Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots Kingston - 15 Hours - Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
Clinique - Consultant - House of Fraser, Norwich - 30 Hours - Full Time, Permanent
Permanent · Norwich
ESTÉE LAUDER
Clinique - Consultant - Boots, Milton Keynes - 14 Hours - Part Time, Permanent
Permanent · Milton Keynes
ESTÉE LAUDER
Clinique - Consultant - Edinburgh, Boots - Fort Kinnaird - 11.5 Hours - Part Time - Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Stockton, Boots Teeside - 22 Hours - Part Time - Permanent
Permanent · Stockton-on-Tees
ESTÉE LAUDER
Clinique - Consultant - Boots, Uxbridge - 7.5 Hours - Part Time, Permanent
Permanent · Uxbridge
ESTÉE LAUDER
Clinique - Consultant - Boots Stratford City e20 - 7.5 Hours - Permanent
Permanent · London
ICEBREAKER
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Chelmsford - 15 Hours - Permanent
Permanent · Chelmsford
SHISEIDO
Field Trainer & Events Manager - Laura Mercier
Permanent · London
SHISEIDO
Bareminerals Account Manager - Boots, Croydon (26 Hours)
Permanent · Grand Londres
SHISEIDO
Bareminerals Account Manager - Boots, Kingston (18.75 Hours)
Permanent · Grand Londres
ESTÉE LAUDER
Clinique - Consultant - Boots, Brent Cross - 6 Hours - Part Time, Permanent
Permanent · London
CONFIDENTIAL
Business Head- Retail
Permanent · DUBAI
THE NORTH FACE
Credit Controller - German Speaking - The North Face
Permanent · CALVERTON
LEVI'S
Senior Product Manager, Digital Partner Selling
Permanent · London
LEVI'S
Ecommerce Project Manager
Permanent · London
LEVI'S
Ecommerce Business Analyst
Permanent · London
SHISEIDO
Brand Manager Nars
Permanent · London
THE NORTH FACE
Credit Controller - Italian Speaking - The North Face
Permanent · CALVERTON
Advertisements
By
Reuters API
Published
Mar 6, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jeans maker Diesel USA files for bankruptcy

By
Reuters API
Published
Mar 6, 2019

Diesel USA Inc, the denim and accessory brand known for its jeans, filed for bankruptcy on Tuesday, blaming mounting losses, a sales plunge, expensive leases and cyber fraud.

Diesel Black Gold - Fall-Winter2018 - Menswear - Milan - © PixelFormula


The New York-based unit of Italy's Diesel SpA filed for Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware. Its parent is not part of the filing.

Diesel USA said it has been the sole distributor of Diesel products in the United States since its 1995 launch.

But it said it has not been spared in the recent downturn in the retail sector, having lost money for six straight years as annual sales plunged 53 percent, to $104 million. Theft and cyber fraud cost $1.2 million (910,677.7 pounds) over three years, it added.

In a court filing, Chief Restructuring Officer Mark Samson said Diesel USA has no plans to close, but intends to exit some of its 28 stores, where landlords' refusal to offer lease concessions has led to heavy losses.

He said the company's three-year business plan contemplates focusing on more profitable stores, improving its product lines and working with social media "influencers" to attract Millennials, "Generation Z" and other new customers.

A successful reorganization would enable Diesel USA to operate as an "iconic and profitable brand," Samson said.

Many other retailers have gone bankrupt in recent years as more consumers shop online.

Recent victims have included shoe chain Payless Inc, which said last month it will close its roughly 2,500 stores.

The Diesel USA bankruptcy followed a Feb. 13 announcement by Levi Strauss & Co, which invented blue jeans in 1873, that it plans to return to the U.S. stock market after a 34-year hiatus, through an initial public offering.

Diesel USA said it has $50 million to $100 million of assets, and $10 million to $50 million of liabilities.

The case is In re Diesel USA Inc, U.S. Bankruptcy Court, District of Delaware, No. 19-10432.

© Thomson Reuters 2021 All rights reserved.