Giorgio Armani has reopened around one hundred boutiques in his global retail network on Monday, May 18, with added security measures, a new system of booking appointments; also, he will open Armani Silos this week.
Hedge fund Mudrick Capital Management asked Neiman Marcus Group's independent directors on Tuesday to explore a combination with rival Saks Fifth Avenue, as the firm plans to reorganize under bankruptcy protection.
An investor group that comprises investment firm Mudrick Capital Management and hedge fund Third Point plans to challenge a $600 million financing package that Neiman Marcus has lined up for its looming bankruptcy.
Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, sources said on Monday.
Neiman Marcus Group is said to be preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak.
Tiffany & Co said on Wednesday Australian regulators have sought more time to review LVMH's multi-billion dollar purchase of the U.S. jeweler due to the coronavirus outbreak, potentially delaying closure of the deal.