Legal
April 25, 2017 at 11:07 am
G-III Apparel Group is in trouble for manufacturing and distributing Ivanka Trump-branded apparel and labeling it with “Adrienne Vittadini Studio” labels. The clothing was sold at discount retailer Stein Mart without the knowledge of Ivanka Trump executives. A G-III spokesman offered no explanation for why the clothes carried the wrong label and declined to say…
April 20, 2017 at 12:35 pm
The Walgreens-Rite Aid merger is increasingly looking like it may be blocked by the Federal Trade Commission. Capitol Forum, a trade publication, reported that the FTC was considering a lawsuit. Bloomberg reports the time line to complete the deal has been extended until July 31, as antitrust regulators review it. Walgreens CEO Stefano Pessina said in an April 5…
April 12, 2017 at 10:03 am
Gymboree Corp. is said to be preparing to file for bankruptcy as it faces an upcoming interest payment on its debt on June 1. Bloomberg reports that the Bain Capital-controlled company is seeking to reorganize its debt load and may transfer control to its lenders, including Searchlight Capital, Brigade Capital Management and Oppenheimer Holdings. The children’s…
April 5, 2017 at 10:26 am
Payless ShoeSource filed for Chapter 11 bankruptcy protection on Tuesday, saying it needed to shore up its balance sheet in order to position itself for long-term survival in an increasingly tough retail landscape. The discount shoe retailer plans to immediately close 400 stores in the U.S. and Puerto Rico, and will also "aggressively manage" the rest of its real estate…
April 3, 2017 at 11:59 am
Gander Mountain has agreed to a stalking horse bid for its assets as it looks to remain in business. A joint venture comprising Boston-based investment firm Gordon Brothers and retail specialist Hilco Merchant Resources made the bid, which was filed in U.S. Bankruptcy Court. A stalking horse bid sets the bar for a sale, but…
April 3, 2017 at 11:40 am
The president of Japanese clothing retailer Uniqlo threatened to close its U.S. stores if President Donald Trump creates a policy that forces the company to manufacture its products in the United States. Speaking in New York last week, Tadashi Yanai, chairman and president of Fast Retailing, which owns Uniqlo, said he would “withdraw from the…
March 29, 2017 at 10:45 am
Reports say electronics retailer RadioShack may lay off as many as 150 people and close its Fort Worth, Texas headquarters as part of its bankruptcy procedures. The layoffs are expected to come in late May and are part of an effort to "reorganize and emerge from bankruptcy as an ongoing business," the company said in a…
March 28, 2017 at 11:12 am
Popular online fashion company LuLaRoe says it has fixed the problem that led to a class-action fraud lawsuit and issued refunds, but plaintiffs attorneys object to the company's actions and are moving forward with the case. Rachael Webster filed her complaint Feb. 17 in the U.S. District Court for the Western District of Pennsylvania, alleging LuLaRoe…
March 24, 2017 at 11:55 am
Neiman Marcus has agreed to pay $1.6 million to settle a data breach class-action lawsuit in Illinois federal court. Court documents show the Dallas-based luxury retailer filed the settlement agreement last week, seeking approval from a federal judge in Chicago where the lawsuit was filed in March 2014. The settlement would cover damages to any…
March 24, 2017 at 11:40 am
Amazon.com on Thursday won more than $1.5 billion in a tax dispute with the Internal Revenue Service over transactions involving a Luxembourg unit more than a decade ago. The IRS case involved "transfer pricing," which arises when different units of multinational companies transact with each other. Amazon argued that the IRS overestimated the value of "intangible"…
