USA: Warnaco Wants To Axe 25 Stores
Cash-strapped apparel maker Warnaco Group has asked a federal bankruptcy court judge to approve its plan to close more than two dozen loss-making stores and appoint a liquidator to sell inventory. The company, which makes clothes ranging from Calvin Klein jeans to Speedo swimsuits and Olga bras, wants to axe 25 Warner's, Olga and Warnaco outlet stores in 18 states and Puerto Rico.