×
1 324
Fashion Jobs
ESTÉE LAUDER
Operations Support Manager
Permanent · Petersfield
ESTÉE LAUDER
jo Malone London - Omnichannel Operations Manager
Permanent · London
ESTÉE LAUDER
Multi-Brand - Business Manager, 37.5 Hours - Oxford - John Lewis
Permanent · Oxford
V. F. CORPORATION
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Bath - 28 Hours - Permanent
Permanent · Bath
CONVERSE
Strategic Account Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
ESTÉE LAUDER
Tom Ford Beauty - Digital Marketing Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 6 Hours - Permanent
Permanent · Edinburgh
By
Reuters API
Published
Jul 5, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Lucky Brand files for bankruptcy as latest retail casualty of coronavirus

By
Reuters API
Published
Jul 5, 2020

Apparel company Lucky Brand Dungarees is filing for Chapter 11 bankruptcy, it said on Friday, becoming the latest retailer to fall victim to the coronavirus pandemic.


ABG-Lucky, a newly-formed unit of Authentic Brands Group, the brand manager which bought Barneys New York out of bankruptcy, will buy the intellectual property of Lucky Brand, the statement added - Lucky Brand


The firm said it had entered into a "stalking horse asset purchase agreement" with SPARC Group LLC, which owns brands such as Aeropostale and Nautica, for the sale of "substantially all" its operating assets.

Such a pact sets a starting bid or minimally accepted offer as a threshold for other potential buyers if they want to bid.

Lucky Brand estimated both assets and liabilities in the range of $100 million to $500 million, its filing in the U.S. Bankruptcy Court of Delaware showed.

"The Covid-19 pandemic has severely impacted sales across all channels," the firm's interim chief executive, Matthew Kaness, said in the statement.

"While we are optimistic about the reopening of stores and our customers' return, the business has yet to recover fully."

ABG-Lucky, a newly-formed unit of Authentic Brands Group, the brand manager which bought Barneys New York out of bankruptcy, will buy the intellectual property of Lucky Brand, the statement added.

The company said it had received new financing commitments from some existing lenders to ensure enough liquidity to fund the business through the closing of the sale.

The statement did not specify the amount of commitments received, adding that the company would operate its business during the Chapter 11 process.

Lucky Brand, founded in Los Angeles in 1990, joins a growing roster of apparel retailers pushed towards bankruptcy by the virus. J Crew Group, JC Penney and Neiman Marcus each filed for bankruptcy in May.

© Thomson Reuters 2021 All rights reserved.