Nine West
CheatSheet said Nine West has a $1.5 billion debt that it is currently trying to restructure. According to Bloomberg, it involves selling parts of the shoe retailer as well as filing for bankruptcy. In an attempt to keep its head above water, it sold Easy Spirit and stopped operations in nearly all its stores. The Washington Post says it will now focus more on clothing and jewelry. It seems like there is a decreasing demand for ballet flats, sandals, and heels.
Nine West
David’s Bridal
In this day and age, people seem to prefer casual events and less formal attire for weddings. This shift can be blamed for the decline in sales that David’s Bridal is currently experiencing. CheatSheet reported that it has a $520 million debt due in 2019 on top of $270 million in unsecured notes due in 2020. The credit rating of the company also went down. Scott Key, the new CEO, might be able to fix this mess.
David’s Bridal