Apparel and textile industry company news

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A string of Chapter 11 filings by clothing and footwear retailers in recent months shows that fashion is feeling the pinch of an economic slowdown in the US. However, this week's news that fashion chain Steve & Barry's is being bought by an investment firm for US$168m will do much to buoy the sector. Joe Ayling reports.

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Petah Marian | 8 May 2012

Barneys New York has been taken over by Perry Capital in a debt-for-equity swap that reduces the US luxury department store operator's borrowings by US$540m and allows the chain to invest in developing its business. | 2 Mar 2011

US fashion retailer Loehmann's Holdings said it has successfully completed its restructuring and emerged from Chapter 11 bankruptcy proceedings. | 20 Dec 2010

Discount retailer Loehmann's has reached agreement with the official committee of unsecured creditors to proceed with its restructuring plan. | 15 Nov 2010

Off-price designer fashion and furnishings retailer Loehmann's Capital Corp today (15 November) filed for Chapter 11 bankruptcy protection in a move that will allow it to reduce its debt and recapitalise its balance sheet. | 23 Aug 2010

Luxury retailer Barneys New York has announced the appointment of Mark Lee to the company as CEO, effective 1 September. | 16 Apr 2010

US media reports indicate New York fashion retailer Barneys is to start looking again for a CEO

Simon Warburton | 1 Feb 2010

New York fashion retailer Barneys may receive a cash injection of $50m in exchange for a controlling stake from supermarket operator Ron Burkle's investment company Yucaipa Cos. | 26 Jun 2009

Plans to expand US chain Barneys New York into China have been shelved by its owners, according to a US newspaper. | 15 Apr 2009

Recession-hit retailer Barneys New York has been thrown a cash lifeline by owner Istithmar World Capital, enabling it to pay its suppliers for the rest of the year. | 2 Feb 2009

Dubai-based investment group Istithmar is reportedly looking to sell on the Barneys New York department stores it purchased less than two years ago. | 14 May 2008

Barneys boss Howard Socol is to leave the luxury clothing chain at the end of June, the company has confirmed. | 12 May 2008

Howard Socol, chief executive of luxury clothing chain Barneys New York, is poised to resign this week according to reports in the US press. | 13 Feb 2008

Jones Apparel Group Inc today (13 February) said it had narrowed its fourth quarter loss, despite lower sales as it exited several sportswear lines. | 21 Dec 2007

Here is a list of the top ten stories published on just-style during the past year. To read the stories in full, please click on the headlines. | 31 Oct 2007

Jones Apparel Group has seen its third quarter profit soar five-fold, helped by the sale of its Barneys New York unit last month. | 22 Oct 2007

US fashion group Jones Apparel is planning to close down its distribution operations in Berkeley County, South Carolina, where nearly 300 people currently work. | 11 Oct 2007

Rising sales at Fast Retailing, operator of Japan’s largest clothing chain Uniqlo, were unable to offset a fall in full-year profit as the company struggled to stem losses in its overseas subsidiaries and new g.u. and Onezone formats. | 10 Sep 2007

Jones Apparel Group Inc has completed the sale of its Barneys New York Inc unit and says it plans to use some of the proceeds to fund a $400m stock buyback. | 4 Sep 2007

Japanese casualwear retailer Fast Retailing Co Ltd is to open its first Uniqlo store in Paris in early December as it quickens the pace of its global expansion. | 21 Aug 2007

Japan's Fast Retailing has won a tender offer to buy the common stock of Tokyo-listed Cabin Co, as it turns its eye away from the Barneys New York chain. | 14 Aug 2007

The value of the brands that Jones Apparel hopes to sell by the end of this year is $22.5m according to a filing posted with the Securities and Exchange Commission today (14 August). | 13 Aug 2007

The chief executive of Istithmar, the Dubai-based investment group purchasing Barneys New York, has told a local radio station that the company intends to open five US stores upon completing the deal. | 9 Aug 2007

Japan's Fast Retailing has announced the withdrawal of its amended proposal to acquire Barneys New York having been trumped by Dubai-based private equity firm Istithmar. | 8 Aug 2007

Jones Apparel Group has signed an amended definitive stock purchase agreement to sell its Barneys New York subsidiary to Dubai-based Istithmar for US$942.3m. | 6 Aug 2007

Fast Retailing has today (6 August) ammended its bid to acquire Barneys New York from Jones Apparel to US$950m in cash, after a rival $900m bid was submitted by Istithmar. | 2 Aug 2007

Jones Apparel Group has reported a second quarter net loss of US$47.1m for the second quarter period, as the company prepares to offload its Barneys New York chain. Same-store sales fell 8%. | 31 Jul 2007

Japan’s Fast Retailing group has moved forward with plans to buy Barneys New York from Jones Apparel Group for US$900m in cash, submitting a definitive proposal to acquire the luxury chain. | 5 Jul 2007

Jones Apparel Group Inc has received an unsolicited offer for its Barneys New York subsidiary from Japanese apparel group Fast Retailing Co, the owner of the Uniqlo casual clothing chain, for $900m in cash – beating an $825m deal already inked with Dubai-based private equity house Istithmar. | 25 Jun 2007

Ending months of feverish negotiation and even more speculation, Dubai-based private equity house Istithmar said late Friday (22 June) that it had agreed to acquire Barneys New York from Jones Apparel Group about US$825m.

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