Nine West Officially Declares Bankruptcy
Reuters is reporting that U.S. footwear and apparel company Nine West Holdings Inc filed for bankruptcy on Friday last week. The brand announced that it would sell off its Nine West and Bandolino footwear and handbag business to Authentic Brands Group.
Nine West missed their debt interest payment due in March, and with the latest declaration of bankruptcy, Nine West now plans on focus on its apparel, jewellery and denim business. With a company debt of around $1.5 billion USD, it will be interesting to see if the brand will have to officially close down stores.