Purple CEO: Stores are the ‘toughest part’ of the brand’s model | Retail Dive: “Two-thirds of them are working and a third of them aren’t,” Rob DeMartini said during a presentation at ICR.
Rent the Runway to cut 10% of its corporate workforce, COO resigns: The designer rental service is launching a restructuring plan, which it says will result in $11 million to $13 million in annualized run rate cash savings.
Authentic CEO: Buying Forever 21 ‘biggest mistake I made’ | Retail Dive: The executive said acquiring Forever 21, which was bought out of bankruptcy in 2020 by Authentic and mall operators Simon and Brookfield, is “probably the biggest mistake I made,” but the Shein partnership is a way to turn things around.
Bankrupt Troika Media Seeks to Halt Lawsuit - WSJ: The advertising-services provider said litigation initiated by a former co-owner of an acquired company could hamper its chapter 11 restructuring.
New York Bankruptcy Judge Set to Retire Will Serve Out 2024: Cecelia G. Morris, the Southern District of New York bankruptcy judge who planned to retire at the end of January, will instead serve until the end of the year.
Medical Apparel Supplier Careismatic Hires Restructuring Advisers - WSJ: Careismatic Brands has engaged restructuring advisers to address financial challenges, according to people familiar with the matter, as competitive pressure and deteriorating performance make it difficult for the medical apparel company to satisfy its debt obligations.
Hertz Selling 20,000 EVs in the U.S., to Reinvest in Gas-Powered Vehicles - WSJ: The car-rental company said in a filing that it would use part of the proceeds to purchase internal-combustion-engine vehicles.
