Nine West
CheatSheet said that Nine West was in debt for $1.5 billion, although it is presently negotiating to restructure it. According to Bloomberg, the company is selling parts and filing for bankruptcy. It sold Easy Spirit in an attempt to stay afloat. It stopped operations in all but 25 stores. The Washington Post says that the company now plans to focus more on clothing and jewelry instead of shoes! It went on to say that Nine West Holdings suffered from the decreased demand for heels, flats, and sandals.
Nine West
David’s Bridal
Fewer people are interested in extravagant weddings, with more people opting for lowkey events and casual clothes. This is bad news for David’s Bridal. CheatSheet the company took out a loan of $520 million, which is due this year. It also has $270 million in unsecured notes due next year! CEO Scott Key seems to be planning to refinance the debts. RetailDive said that the wedding dress retailer has many market and operational challenges to overcome. In June 2018, S&P Global downgraded its credit rating.
David’s Bridal