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Bankrupt jewellery retailer Claire’s to sell its North American business

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Bankrupt jewellery retailer Claire’s to sell its North American business


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Reuters

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August 21, 2025

​Jewellery retailer Claire’s said on Wednesday it would sell its North American business to private equity firm Ames Watson for $104 million in cash, in a deal that will keep at least 795 retail locations in business.

Claire’s is known for its youthful accessories and jewellery – Claire’s

The sale agreement will “allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world,” Claire’s said in a court document filed on Wednesday.
 
Ames Watson, a private holding company that owns athletic apparel brands including Champion Teamwear and Lids, is acquiring Claire’s brand and up to 950 Claire’s stores, according to court documents. Claire’s has halted “going out of business sales” at all stores that could be sold, but it will continue liquidation sales at other locations.

Claire’s, which sells earrings and fashion accessories for teens and young girls, filed for earlier this month with more than $690 million in debt. The company, which previously filed for, operates more than 2,300 stores across 17 countries in North America and Europe.
 
Ames Watson co-founder Lawrence Berger said in a statement that the firm was “committed to investing in its (Claire’s) future by preserving a significant retail footprint across North America.”
 
Ames Watson will also provide noncash considerations as part of the sale, such as taking on liabilities owed to Claire’s vendors and landlords, continuing to employ current retail staff at acquired Claire’s stores, and extending $36 million in credit that the bankrupt company can use to address some of its pre-existing debt.
 
Claire’s will seek approval of the sale on Thursday at a court hearing in Wilmington, Delaware. Claire’s has suffered in recent years from increased competition, high rent costs, and new tariffs on imports from supplier nations such as China, Thailand and Vietnam.
 
 

© Thomson Reuters 2025 All rights reserved.



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Fashion

Retech to showcase precision godet technology at Techtextil 2026

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Retech to showcase precision godet technology at Techtextil 2026



RETECH designs and manufactures godets and draw frames for heated, ambient and cooled processes, enabling precise heat treatment and consistently high yarn quality for a wide range of polymers and applications, with process temperatures of up to 400°C for high-performance fibers. The company’s key competence lies in exact and stable temperature and speed control, individually adapted to the specific material and process requirements.

Advanced induction heating concepts, available in single-zone or multi-zone configurations, ensure highly accurate temperature profiles and excellent temperature uniformity over the entire godet surface, precisely influencing yarn properties such as tenacity, elongation, and shrinkage to achieve a highly consistent final product.

Retecch develops precision godets and draw frames for heated, ambient and cooled fibre processes up to 400°C.
Its advanced induction heating ensures uniform temperature control, optimising yarn tenacity, elongation and shrinkage.
Energy-efficient systems, robust design and the UTR-6A non-contact monitoring solution support reliability, machine uptime and sustainable production.

Energy efficiency and long-term reliability are key elements of the RETECH godet concept. Energy-optimised heating systems and efficient drive solutions are combined with a robust mechanical design to achieve extended service life and maximum machine availability.

The proven non-contact temperature measuring and transmission system UTR-6A continuously captures temperature data directly from the rotating godet and transfers it to the UCR-6 controller for regulation. This enables preventive measures to protect the godet, bearing system and induction heater, while ensuring stable production conditions and supporting the sustainability of the overall fibre manufacturing process.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (MS)



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US’ Old Navy launches little navy, a new newborn essentials collection

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US’ Old Navy launches little navy, a new newborn essentials collection



Old Navy announces Little Navy, a brand-new collection of newborn essentials designed to make those first months a little easier, and a lot cuter. Little Navy offers thoughtfully designed pieces that are easy to mix and match, making shopping and gifting a breeze for your littlest style icon. This is the newest way Old Navy continues to be a style destination for every generation, moment and milestone.

“We designed this collection with parents in mind. Shopping for a newborn, as a gift or for your own, should feel joyful and easy. Everything is intended to be mixed together and matched — it’s fun, it’s emotional, and the value is incredible.”. – Sarah Holme, Head of Design & Product Development for Old Navy.

Old Navy has introduced Little Navy, a new collection of newborn essentials designed to simplify early-stage shopping and gifting.
The range includes layettes, hats, booties and mix-and-match basics in soft, seasonless colours and cosy fabrics.
Sized for babies up to 24 months, the line focuses on comfort, versatility, emotional appeal and strong value for modern parents.

Little Navy goes beyond onesies, offering layettes, hats, booties, and more, all in one convenient collection and no extra searching required. It features a soft, seasonless color palette, cozy fabrics, and versatile styles made for newborns and babies up to 24 months, with sizing that allows Little Navy to grow with baby.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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Bangladesh’s BGMEA seeks policy reforms, release of pending incentives

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Bangladesh’s BGMEA seeks policy reforms, release of pending incentives



Bangladesh Garment Manufacturers and Exporters Association (BGMEA) representatives recently met Finance Minister Amir Khasru Mahmud Chowdhury and urged him to release pending cash incentives without delay and simplify the disbursement process.

They said bank audit procedures have stalled numerous applications. Around Tk 57 billion in incentives for the textile and apparel sector remain unsettled in fiscal 2025-26, creating acute liquidity pressure and affecting exports.

Bangladesh trade body BGMEA representatives recently met Finance Minister Amir Khasru Mahmud Chowdhury and urged him to release pending cash incentives without waiting for quarterly release schedules and simplify the disbursement process.
They said bank audit procedures have stalled numerous applications.
They also raised concerns over loan rescheduling and working capital.

The authorities were requested to disburse incentives upon application submission instead of waiting for quarterly release schedules, according to a release from the trade body.

BGMEA vice president Mohammad Shihab Uddoja Chowdhury raised concerns over loan rescheduling and working capital. He said banks often reschedule loans to maintain non-performing loan ratios, but fail to provide the working capital factories need to resume operations.

He proposed that banks pair rescheduling with working capital support to create a win-win outcome, allowing factories to operate and repay loans. The finance minister agreed with the proposal.

BGMEA leaders also called for business facilitation and lower operational costs to help Bangladesh remain competitive in the global market. They sought policy support to remove obstacles in customs, ports and other administrative layers and to ensure an investment-friendly environment.

Fibre2Fashion News Desk (DS)



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