Apparel & Accessories Retailers
Charles Voegele Belgium will apply for judicial reorganization through transfer of business operations
Charles Voegele Holding AG
PAL CO LTD:Says to transfer clothing and sundries business (entire business excluding group management business) to preparatory company that to be established on April 1, for transition to holding company structure.Planned effective Sep. 1.To change company name to PAL GROUP Holdings CO.,LTD, with effective date Sep. 1.Says previous release disclosed on March 29.
PAL CO LTD:To restructure the company into a holding company, planned effective Sep. 1.To establish a wholly owned subsidiary in Osaka in the early of April as preparatory company for the company's transition to holding company.
Venue Retail Group AB:Says sets new financial targets, adpopts new strategy.Board decides on fully guaranteed 132 million Swedish crown new preferential rights issue.Subscription price in 132 million crown issue 1 crown per series B share.Board proposes directed issue of series C shares to all holders of the convertible loan of around 79 million crown convertible loan.Says guaranteed issue and convertible loan redemption adds total 211 million crowns in equity.Says to close 35 stores.Overview and closing of stores will give one-off costs of 164 million crowns of which 119 million crowns will hit Q2 and 45 million crowns in Q3.Sets new target to reach 5-7 percent EBIT margin on accessories within 3-5 years.Sets new target to reach 7-9 pct EBIT margin on shoes within 3-5 years.Strategic review includes among other things structural transactions, capital structure and other possible changes, all in order to achieve a long-term financial stability and profitability.Parallel to the long-term package of measures, the company will continue to evaluate other strategic alternatives in order to quickly achieve satisfactory profitability.
I Kloukinas I Lappas SA Construction and Commercial Co terminates unit's activity and gives FY 2016 outlook
I Kloukinas I Lappas SA Construction and Commercial Co:Terminates activity of unit KLSLV in Slovenia.Estimates company's FY 2016 results to burden loss 700,000 euro.Estimates group's FY 2016 results to burden loss 300,000 euro.
Bebe Stores Inc:announces organizational restructuring.Says manny mashouf rejoins management team as chief executive officer.Says walter parks rejoins as president, chief operating officer, and interim-chief financial officer.Says instituted a workforce reduction that will result in the elimination of a total of about 45 positions.Says about a 14.6% reduction in corporate headcount.Streamlining design and merchandising teams, while reducing support functions in recognition of the rationalization of the store base.Expects to incur a one-time severance charge of about $3.7 million in the third fiscal quarter of 2016.Says reductions are expected to yield annualized pre-tax cost savings of about $6.0 million.Recognize that the overall macro environment has not been favorable to retailers in general".Former chief executive officer and board member Jim Wiggett and former chief financial officer liyuan woo are no longer with the company.
Shinsegae International Co Ltd:To merge with a wholly owned subsidiary, VIDI VICI COSMETIC CO., LTD, which is engaged in the manufacture of cosmetic business, to improve operating efficency and create synergy.Merger effective date of April 1 and registered date of April 1.The company will survive and the subsidiary will be dissolved after the merger.
Fila Korea Ltd:Suspends the operation of its outdoor business division due to uncertainty of business prospect.The suspended amount is 23,862 mln won.
Cima Co Ltd:To merge with its Tokyo-based wholly owned subsidiary on Nov. 1.Says the subsidiary to be dissolved after the transaction.