PayPal Holdings Inc said on Thursday it was pledging $530 million to support black and minority-owned businesses in the United States and foster diversity, amid worldwide protests over racial injustice.
Fat Face is on the verge of being taken over by its lenders, that include banks and debt funds, in a debt-for-equity swap designed to drastically reduce the firm’s borrowings and help it weather the coronavirus storm.
Vincent Wauters is out as CEO after a four-year stint leading the premium footwear brand. Paolo Porta will assume his responsibilities on an interim basis and Andrew Lawley has been appointed as executive chairman.
Celebrity favourite Hunter Boots has clinched a rescue following a sales plunge due to the coronavirus crisis. A further £16.5m is being pumped into the firm to keep it going and growing through the crisis and beyond.
Set to launch on Tmall, the Revlon Inc-owned cosmetics brand is gearing up to wield the power of celebrity as it re-enters the market, while its parent company continues to struggle with financial instability.