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...Bembury, who lives in Los Angeles, is a trained industrial designer who began his career in 2009 at multibillion-dollar American mass-market brand Payless, which sells $15 sneakers....
...Fairway, Toys R Us, Gymboree, and Payless ShoeSource are among the other private equity-backed retailers that have filed for bankruptcy in recent years. J Crew is unlikely to be the last....
...Bankruptcies last year of the retailers Charlotte Russe, Gymboree, and Payless ShoeSource further hurt its rental income.Lou Conforti, chief executive, said the “exogenous shock has been dramatic to say...
...Shoe retailer Payless, for instance, filed for bankruptcy in 2017 even after securing what it described as “significant” rent concessions....
...Gap and Victoria’s Secret are among several household names to announce closure plans, while Payless ShoeSource and Charlotte Russe have each launched bankruptcy filings....
...While some companies are reporting some of their strongest results in years, others including Payless ShoeSource and Charlotte Russe have filed for bankruptcy protection this year....
...Others have included Payless shoes, Claire’s accessories and Toys R Us toy store...
...“Most of the retail failures in the US comprise brands that have neglected to renew themselves and no longer meet consumer expectations — think Sears, JC Penney, Payless Shoes, Forever 21 or Abercrombie...
...Payless said it has secured $385m in debtor-in-possession financing, that will allow it to tap up to $120m in incremental liquidity during the bankruptcy....
...As fewer Americans regularly make trips to the mall, many companies, ranging from Payless to luxury retailers like Saks have re-evaluated how many stores they need and how large the stores should be....
...Of these buyouts, worth a combined $68bn since 2007, 19 have run into trouble, including those of household-name retailers J Crew, 99 Cents Only Stores and Payless, according to the FT analysis....
...It is one of several private equity-owned US retailers to file for bankruptcy so far this year — others include shoe store Payless, children’s retailer Gymboree and women’s footwear brand Aerosoles....
...The abrupt bankruptcy of Toys R Us, following others including Payless Shoes and Gymboree in recent months, also put lenders on edge....
...Prior to joining PetSmart, Mr Massey served as chief executive of Collective Brands, which owned shoe-store chain Payless....
...Reports of a possible Toys R Us bankruptcy comes as more than 20 retailers have already filed for bankruptcy in the first six months of the year — including Gymboree, Payless, BCBG — with the accumulated...
...US-based Avis — which operates car rental brands including Avis, Budget, Apex, Payless and Zipcar — said that revenue for the three months ending March 31 was $1.84bn, just under the $1.88bn that analysts...
...Golden Gate Capital, the San Francisco private equity group that has previously invested in California Pizza Kitchen and retailers Payless ShoeSource and Zales, will pay $2.1bn in cash for Red Lobster....
...In May Collective Brands, the group behind Payless ShoeSource and Sperry Top-Sider split itself up. Nike said the divestitures would allow it to focus on its core brands....
...The group behind Payless ShoeSource stores and a collection of shoe brands including Sperry Top-Siders is splitting itself up in a $2bn deal....
...But Collective has decided not to take Payless to China, where its low-cost fashion shoes would be up against intense competition from hundreds of local brands....
...Matt Rubel, chief executive of Collective Brands, the US footwear group that owns the Payless shoe stores chain, is shifting a chunk of production from China to Indonesia, south- east Asia’s largest economy...
...Collective Brands, which operates 4,500 Payless stores in the US, reached a franchise agreement with PT Mitra Adiperkasa in October....
...Payless targets women aged between 16 and 49, with a household income that tends to be less than $75,000....
...Collective Brands, the Kansas-based holding company for Payless and StartRite shoes, says it will launch 90 stores within five years in Russia where it eventually plans to build a network of 300 Payless...
...Collective and Alshaya have a long-term objective of more than 300 Payless stores....
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