American company Nine West is having financial problems

American company Nine West is having financial problems

In connection with financial problems, the footwear company Nine West intends to sell intellectual property rights to its flagship brand Authentic Brands Group LLC as soon as possible and file for bankruptcy. The proceeds from the sale are to repay part of the company’s debt in the amount of about 1.5 billion dollars. The company’s creditors are planning taking over shares in other Nine West activity in exchange for discontinuing the part of one’s debts.

 

Source: https://www.reuters.com/article/us-ninewest-bankcruptcy/nine-west-near-bankruptcy-with-plan-to-sell-footwear-brand-sources-idUSKCN1HC287

 

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