JAPAN: Firstman Declared Bankrupt With $33.7m Debts
Apparel producer and retailer Firstman Corp has gone bankrupt with debts of $33.7 million after plunging sales and a bad loan from a loss-making supermarket pushed it into the red.
The 51-year-old firm, which produces men's casual clothing, lost $8.8m in the last fiscal year but was declared bankrupt during a court hearing in Tokyo.
Help test our new apparel sourcing tool.
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Inditex and H&M boycott Dhaka Apparel Summit
- Bangladesh crackdown has cost garment sector $100m
- JC Penney to close 140 stores amid lower sales
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022