To repay the debt, the company will sell Nine West brand shoes and Bandolino handbags to other corporations.
Nine West Holdings, which owns the world's leading apparel and footwear brand, filed for bankruptcy Friday. Reuters cited several sources as saying Nine West is owed about $ 1.5 billion.
Nine West said it would have to sell some of its Nine West and Bandolino branded footwear and handbags for Authentic Brands. Instead, the company only owns brands such as Anna Klein, Gloria Vanderbilt, with a strategy focused on clothing, jewelry.
A Nine West store in a commercial center in Texas (USA)
The Washington Post says that in the past few years, Nine West has struggled with the tastes of consumers switching to sports shoes, more sneakers than sandals, high heels. Not only that, the downfall of the central business model - where Nine West puts its stores and consumes the majority of its products - has reduced the company's revenue.
According to Nine West's bankruptcy filings, the company's total assets ranged from $ 0.5 billion to $ 1 billion while total liabilities ranged from $ 1 billion to $ 10 billion.
Earlier, in September, Toys "R" Us, the largest toy chain in the United States, filed for bankruptcy protection, in the context of the retail sector's ebusiness and cheap chain stores. . Last year, more than 15 retailers in the United States closed.