“The company’s fixed costs are too high, to the point that there is no capacity to carry out marketing efforts like those of the LVMH group.”
Meanwhile, the Christopher Kane brand is also actively seeking refinancing or sale options.
Holly Etlin, a retail transformation expert and Managing Director of consulting group AlixPartners, has been appointed as the Chief Financial Officer and Chief Restructuring Officer of Bed Bath & Beyond.
The restructured company plans to raise $670 million through the sale of new shares after exiting bankruptcy proceedings and become a privately held company.
Scotch & Soda and its products will continue to thrive in major markets, including the Netherlands, thanks to this acquisition.
Scotch & Soda’s bankruptcy filing does not affect its overseas operations, where the brand currently has around 200 stores.
Revlon’s stock price plummeted nearly 15% on March 17th following the release of their financial report, resulting in a current market value of approximately $27.7 million.
Following the news, Bed Bath & Beyond’s stock price, which is listed on Nasdaq, closed at $3.01 on February 7th, a drop of 48.6% from the previous trading day.
