September 27, 2018 / 9:51 PM / 24 days ago

Bankrupt Nine West sees $60 mln in savings by rejecting Manhattan lease

Now that it has completely exited the shoe and handbag business, bankrupt retailer Nine West Holdings Inc is seeking court approval of a deal taking into account its new structure and that it says will save it more than $60 million.

On Wednesday, Nine West in a filing in U.S. Bankruptcy Court in New York said the lease-rejection deal with the landlord of its corporate headquarters in midtown Manhattan will sharply reduce the square footage it rents at 1411 Broadway from roughly 459,000 square feet to about 31,000 square feet.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2Q8x4nO

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