Having filed for Chapter 11 bankruptcy in July, the Mahwah, New Jersey-based owner of Ann Taylor and Lane Bryant has received court approval for its reorganization plan, which must now be approved by its creditors.
China's ByteDance said on Monday that TikTok Global will launch a public offering of shares to enhance the corporate governance structure and transparency for the firm that will control the TikTok's U.S. operations.
The pandemic may only have affected the final period of Superdry's latest financial year, but its performance was “materially impacted” by Covid-19 disruption, the company said as it delivered its results on Monday.
France's LVMH faces an uphill battle in walking away from its $16 billion deal to buy U.S. jeweler Tiffany & Co, with legal experts noting most mergers which end up in court are renegotiated rather than dissolved.
The Crown Estate, like other major landlords, is aiming to conserve as much cash as it possibly can and has delayed the payment of its annual income to the Treasury in the face of a shortfall in rent payments.
Finnish textiles-to-fashion firm Marimekko has updated its guidance saying net sales will be lower for the full year while comparable operating profit could be at a similar level to last year, but might also be lower.