Holding Nine West declared bankruptcy

On Friday Nine West Holdings, which owns such brands as Nine West, Bandolino and Anne Klein declared bankruptcy because of a debt of $1 billion.

Does this mean that popular brands of clothes, shoes and accessories will disappear from the face of the earth, and before that buyers are waiting for sales?

Not at all. To keep the business, the company plans to reorganize. Losing Nine West and Bandolino sell company Authentic Brands Group, which is engaged in marketing and brand development.

Himself Nine West Holdings will focus on work with Anne Klein, Jewelry Group, the Kasper Group and the One Jeanswear Group, which have proven to be more successful and profitable.

In addition, the holding company filed for protection from bankruptcy — it will give him the right to debt restructuring and financing in the amount of $300 million, helping to maintain normal operation in the status of bankrupt.

Nine West Holdings is not the only company that has faced difficulties in the last few years. Because of the competition with the giants of online trading has ceased to exist dozens of retailers.

Just last year closed 7 thousand of shops, including branded points shopping network, Toys «R» Us.