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Nine West Holdings, which owns the Nine West and Anne Klein brands, has filed for bankruptcy.Friday's chapter 11 filing shows that the company owes more than billion.Nine West said in a statement that it plans to sell Nine West and its Bandolino line to Authentic Brands Group. ABG owns Juicy Couture and Aéropostale, among others.The company's eponymous brand and Bandolino both sell women's shoes, handbags and accessories.Ralph Schipani, the struggling retailer's CEO, said that the restructuring will help the company reduce debt and increase growth by allowing it to focus on its stronger brands, like Anne Klein and One Jeanswear Group."This is the right step," Schipani said. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses." He added that the changes should help the company to "be well positioned for the future."Nine West said it expects to continue operating normally during the bankruptcy process.The company, which has been owned by Sycamore Partners Management since 2014, joins a growing list of retailers that have filed for bankruptcy this year. Claire's filed for bankruptcy last month, and Toys "R" Us in September. The toy seller said recently that it is closing or selling all of its US stores.Last year, more than 7,000 stores closed, which set a record.Retailers have been struggling to compete with online retailers like Amazon, and suffering from the death of the mall. Many have also struggled to survive under mountains of debt.The-CNN-Wire 1524

NEW YORK (AP) — If you were to choose a word that rose above most in 2020, which word would it be? Ding, ding, ding: Merriam-Webster on Monday announced “pandemic” as its 2020 word of the year.Merriam-Webster's editor at large, Peter Sokolowski, tells The Associated Press ahead of Monday's announcement that pandemic rose to the top in March.That's when the World Health Organization declared the novel coronavirus crisis a pandemic.Interest in the word on the company's website, Merriam-Webster.com, has been high through the year.Among the runners up for word of the year: kraken, mamba and defund.President-elect Joe Biden's fondness for the word malarkey lifted the word to runner up status as well. 712

Next week, folks who are traveling can expect really crowded airport lines.There will be a 7 percent increase in those flying to their Thanksgiving celebrations, the Transportation Security Administration announced.The Thanksgiving rush at airports will last 10 days beginning Nov. 16 and stretching to Nov. 26.The Sunday after Thanksgiving is likely going to be the heaviest travel day of 2018, officials said — it is expected to break into TSA's top 10 busiest days ever. 481

New Englanders hit by this weekend's nor'easter will barely have time to clean up before another storm could strike this week.While the deadly nor'easter has moved offshore, high tides are expected Sunday on the New England coast."Winds are likely to remain an issue through Monday, during which there's a shot at a coating to 2" of snow late Sunday into Sunday night," the National Weather Service in Boston said in a tweet.The agency said the next nor'easter could strike Wednesday and Thursday, bringing heavy snow, strong winds and high waves to much of southern New England.Latest developments 611

Netflix is cutting ties with "House of Cards" star Kevin Spacey as the actor faces a growing number of allegations of sexual harassment and assault. The actor has also been suspended from the show.In a carefully worded statement, the streaming network made clear that it would not continue to be involved with the show if Spacey has any part in the drama's future."Netflix will not be involved with any further production of 'House of Cards' that includes Kevin Spacey," a spokesperson for the network said. "We will continue to work with [Media Rights Capital] during this hiatus time to evaluate our path forward as it relates to the show."MRC, which produces "House of Cards," followed up with its own statement, announcing the actor's suspension from the series."While we continue the ongoing investigation into the serious allegations concerning Kevin Spacey's behavior on the set of 'House of Cards,' he has been suspended, effective immediately," MRC said.Netflix has also decided not to proceed with the release of the film "Gore," which stars and is produced by Spacey, the statement said. The film had been in post-production.The decision comes one day after several current and former members of the "House of Cards" production staff came forward with allegations of sexual harassment in a CNN report. One also accused Spacey of sexual assault.Actor Anthony Rapp first made allegations against Spacey in a story published by Buzzfeed this week.Rapp, who appears on CBS's "Star Trek: Discovery," alleges Spacey made a sexual advance toward him at a party in 1986. Rapp was 14 years old at the time.Spacey issued a statement claiming he did not recall the incident, but he apologized for what he said would have been "deeply inappropriate drunken behavior."Production on "House of Cards" was halted on Tuesday, a little more than two weeks after filming for Season 6 began in the Baltimore area.News that the show would be ending after Season 6 was made public in the days following the first Spacey allegation, but sources told CNN the decision had been known by the production team for months prior.Spacey is currently seeking unspecified treatment, according to a statement from his representative released on Wednesday.His publicist and talent agency, CAA, have since cut ties with him."House of Cards" is a five-time Emmy nominee for outstanding drama.Spacey has also earned five Emmy nominations in the outstanding actor in a drama category.On the series, Spacey played a morally bankrupt politician who climbs the D.C. power ladder.In the final episode of Season 5, Spacey's Frank Underwood resigns from office and his vice president and wife Claire Underwood assumes office.The finale set the stage for a power struggle between the couple. 2809