Bankruptcy Brand A E Ropostale Gets $160 Million For Financing
It is reported that the US youth brand has applied for bankruptcy.
A e ropostale
Inc. double happiness, the company not only received $160 million financing hematopoietic applications, but also with the dispute has been constantly looking at the brand's major shareholder Sycamore Partners reconciliation.
A ropostale Inc. CEO Julian R. Geiger reiterated that it would restore its brand with a more efficient and streamlined business plan.
A ropostale Inc.'s preferred creditor will become a Crystal Financial that will provide the company with $160 million in financing, and this will also face opposition from other creditors of A ropostale Inc.. Many creditors say the plan will eventually fail because there are a large number of other companies in advance.
These creditors, who were forced to become subordinated creditors, hoped that A ropostale Inc. Inc. could go bankrupt and liquidate and realizable their assets to repay debts, but eventually the value of restructuring of A ropostale Inc. was worth twice the value of the sale, which persuaded the federal bankruptcy court of New York.
In addition to obtaining financing, A e ropostale Inc., which declared bankruptcy in May 4th, also reached a reconciliation agreement with its former major shareholder Sycamore Partners Management LLC.
In fact, the new financing is partly to some extent.
Reconciliation agreement
The main reason for this is that it is difficult for Sycamore to win the long-awaited A ropostale Inc. without becoming a major creditor.
According to the two sides' settlement agreement, A e ropostale Inc. will be reorganized or sold by August 26, 2016, which is 1 months ahead of the previous date.
According to the bankruptcy documents of A ropostale Inc, the company will close 113 US stores and 41 Canadian stores, which is higher than the 100 known by former sources.
The company's assets and liabilities are currently US $100 million -5 billion.
A e ropostale Inc. focuses on 14 year old -17 years old.
Youth clothing market
But the American "3A" clothing group, which focuses on the youth market, has been crumbling in the past three years. Unfortunately, A ropostale Inc. has become the first to fall.
- Related reading
- Instant news | MUJI: Quality Is Not " Good Quality "
- Company news | YOUNGOR's Operation To Reduce CITIC Securities Was Exposed
- Company news | 百圓褲業資產翻番 業績良好創歷史
- Industry perspective | The Comparison Between The Original Brand And The Cooperative Money Of The Luxury Brand
- Men's district | How Do Boys Learn Costume Matching? They Have Been Collected For More Than 5000 Times.
- Recommended topics | How Much Do You Know About Basic Knowledge Of Clothing Collocation?
- Collocation | 臉型與服裝的搭配技巧,值得學習!
- Popular this season | Fat Girls Dress With Thin And Thin Eight Skills! Be Sure To See It!
- Communication | Is It Good To Have Children In The Year Of The Sheep?
- Men's district | Chengdu Men'S Fashion Brand Launched New Products In KRIMU2015
- Guangxi Sampling 80% Unqualified Children And Children'S Clothing Products
- Many Big International Coffee Show In London Fashion Week
- Summer Is Bright And Bright. Summer Is Actually Very Simple.
- US Internet Children'S Wear Brand Has Won $8 Million In A Round Of Financing.
- British University Fashion Students Designed A Series Of Silicone 3D Printed Underwear.
- Urbanoutfitters'S Recovery Is Short-Lived, Resulting In A 7.8% Drop In Share Price.
- Italy Fashion Brand Diesel Chose To Return To Singapore After 4 Years.
- John Smith, Chief Operating Officer Of Boboli Group, Will Step Down.
- The Net Loss Of Hudson Bay Group Was 97 Million Canadian Dollars In The First Quarter Of April.
- Raf Simons8 Officially Became Brand New Creative Director