The owner of Nine West, Anne Klein and Gloria Vanderbilt today announced that it has filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of New York.
The firm said it has taken this action to facilitate the sale of its Nine West and Bandolino footwear and handbag business and to adjust its capital structure around its “profitable and growing businesses,” including One Jeanswear Group, The Jewelry Group, the Kasper Group and Anne Klein.
The company said it has entered into a “stalking horse” asset purchase agreement with Authentic Brands Group for the purchase of Nine West and Bandolino and is subject to a competitive sale process.
