April 6, 2018
Nine West Canada LP, the Canadian operations of the American fashion retail company, filed an NOI on April 6, while the parent company filed for US Chapter 11 bankruptcy, listing over $1.0B (USD) in liabilities. In order to focus on its stronger brands, like Anne Klein, the parent company plans to sell its namesake Nine West and Bandolino footwear and handbag businesses to Authentic Brands Group, who owns Juicy Couture and Aéropostale. The parent company has received $300.0MM (USD) in DIP financing, and has entered into a restructuring agreement with the parties that hold more than 78% of its secured-term debt and 89% of its unsecured-term debt. Richter is the proposal trustee in the Canadian proceedings.