Headlines

Nine West Files for Bankruptcy

Will sell its shoe and handbag brands

Published

6 years ago

April 9, 2018

kmpeyton

Apparel, accessory and footwear company Nine West (White Plains, N.Y.) has filed for bankruptcy amid a missed payment on its debt interest last month.

The retailer, which owns the Anne Klein and Gloria Vanderbilt brands, apparently received $300 million in debtor-in-possession financing and had entered a restructuring agreement, reports CNBC. In wake of the bankruptcy filing, the company says it will sell off its Nine West and Bandolino shoe and handbag brands to Authentic Brands Group (New York).

The company reported last week to Reuters that it had about $1.5 billion in debt. In court filings, its listed assets range from $500 million to $1 billion, and its liabilities range from $1 billion to $10 billion.

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