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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) — Billionaire and former New York City Mayor Michael Bloomberg, one of the world’s richest men, has formally launched a Democratic bid for president.Ending weeks of speculation, the 77-year-old former Republican announced his candidacy Sunday in a written statement posted on a campaign website describing himself as uniquely positioned to defeat President Donald Trump. He will quickly follow with a massive advertising campaign blanketing airways in key primary states across the U.S.“I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg wrote.“We cannot afford four more years of President Trump’s reckless and unethical actions,” he continued. “He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage.”Bloomberg’s entrance comes just 10 weeks before primary voting begins, an unorthodox move that reflects anxiety within the Democratic Party about the strength of its current candidates.As a centrist with deep ties to Wall Street, Bloomberg is expected to struggle among the party’s energized progressive base. He became a Democrat only last year. Yet his tremendous resources and moderate profile could be appealing in a primary contest that has become, above all, a quest to find the person best-positioned to deny Trump a second term next November.Forbes ranked Bloomberg as the 11th-richest person in the world last year with a net worth of roughly billion. Trump, by contrast, was ranked 259th with a net worth of just over billion.Already, Bloomberg has vowed to spend at least 0 million of his fortune on various pieces of a 2020 campaign, including more than 0 million for internet ads attacking Trump, between million and million on a voter registration drive largely targeting minority voters, and more than million on an initial round of television ads.He did not say how much he would be willing to spend overall on his presidential ambitions, but senior adviser Howard Wolfson did: “Whatever it takes to defeat Donald Trump.”Wolfson also said that Bloomberg would not accept a single political donation for his campaign or take a salary should he become president.Even before the announcement was final, Democratic rivals like Bernie Sanders pounced on Bloomberg’s plans to rely on his personal fortune.“I’m disgusted by the idea that Michael Bloomberg or any billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy elections,” Sanders tweeted on Friday.Elizabeth Warren, another leading progressive candidate, also slammed Bloomberg on Saturday for trying to buy the presidency."I understand that rich people are going to have more shoes than the rest of us, they're going to have more cars than the rest of us, they're going to have more houses,” she said after a campaign stop in Manchester, New Hampshire. “But they don't get a bigger share of democracy, especially in a Democratic primary. We need to be doing the face-to-face work that lifts every voice."Bloomberg does not speak in his announcement video, which casts him as a successful businessman who came from humble roots and ultimately “put his money where his heart is” to effect change on the top policy issues of the day — gun violence, climate change, immigration and equality, among them.Bloomberg has devoted tens of millions of dollars to pursue his policy priorities in recent years, producing measurable progress in cities and states across America. He has helped shutter 282 coal plants in the United States and organized a coalition of American cities on track to cut 75 million metric tons of carbon emissions by 2025.But he is far from a left-wing ideologue.Bloomberg has declined to embrace Medicare for All as a health care prescription or the “Green New Deal” to combat climate change, favoring a more pragmatic approach.Still, he has endeared himself to many of the nation’s mayors, having made huge investments to help train local officials and encouraging them to take action on climate, guns and immigration in particular.Ahead of Bloomberg’s presidential announcement, the mayors of Columbia, South Carolina, and Louisville, Kentucky, endorsed him. Despite that show of support from two local black leaders, Bloomberg may have trouble building a multi-racial coalition early on given his turbulent record on race relations in New York.He angered many minority voters during his 12 years in the New York City mayor’s office for embracing and defending the controversial “stop-and-frisk” police strategy, despite its disproportionate impact on people of color. Facing an African-American congregation this month in Brooklyn, Bloomberg apologized and acknowledged it often led to the detention of blacks and Latinos.The apology was received skeptically by many prominent activists who noted that it was made as he was taking steps to enter the race.The campaign will be headquartered in Manhattan and managed by longtime adviser Kevin Sheekey. Wolfson will also play a senior role.Bloomberg’s team did not establish a super PAC before launching the campaign, preferring to run the primary campaign and a simultaneous set of general election-focused moves like the anti-Trump internet ads and voter registration drive out of the same office.The path ahead may be decidedly uphill and unfamiliar.Bloomberg plans to bypass the first four states on the primary calendar — Iowa, New Hampshire, Nevada and South Carolina — and focus instead on the crush of states that vote on Super Tuesday and beyond. It's a strategy that acknowledges the limitations of entering the race at this late stage and the opportunities afforded by his vast personal wealth.His team has noted that several candidates have devoted much of the year to building support on the ground in the earliest states, and Bloomberg needs to be realistic about where he can make up ground.Nearly a quarter of primary delegates are up for grabs in the March 3 Super Tuesday contests, which have gotten far less attention so far.Bloomberg has openly considered a presidential bid before, but as an independent. He declined to enter the 2016 contest only after deciding there was no path to victory without the backing of a major political party.He explored a run earlier this year, too, but decided there was no path with establishment-favorite Joe Biden in the race. Biden’s perceived weakness, along with the rise of progressive firebrand Warren, convinced him to reconsider.“We believe that voters are increasingly concerned that the field is not well positioned to defeat Donald Trump,” Wolfson said of Bloomberg’s decision to change his mind.Initially registered as a Democrat, the Massachusetts native filed paperwork to change his voter registration to Republican in 2000 before his first run for New York City mayor, according to a spokesman. In June 2007, he unenrolled from the GOP, having no formal party affiliation until he registered again as a Democrat this October.While some will question his newfound commitment to Democrats, he vowed allegiance to the party in an Associated Press interview earlier in the year, saying, “I will be a Democrat for the rest of my life.”__Associated Press writer Hunter Woodall in Manchester, New Hampshire, contributed to this report. 7347

NEW YORK (AP) — Facing a potentially ruinous wave of new sex-abuse lawsuits, the Boy Scouts of America is increasing its annual youth membership fee by more than 80%.The group says the move, which has dismayed many of the Scouts' adult volunteer leaders who warn the increase is prohibitively steep for some, is needed to meet rising operating costs, notably for the liability insurance that covers all official Scouting activities.For years, the BSA has been entangled in costly litigation with plaintiffs who said they were abused by scout leaders in their youth. Hundreds of lawsuits may lie ahead with the recent enactment of laws in New York, New Jersey, Arizona and California making it easier for victims of long-ago abuse to seek damages.The fee increase, disclosed to the Scouts' regional councils last week, seeks to relieve some of the financial pressure. As of Jan. 1, the annual membership fee for 2.2. million youth members will rise from to ; the fee for adults will rise from to , the Scouts said. The increases could generate more than million in additional funds in the coming year.The BSA says it's exploring "all available options" to maintain its programs and has not ruled out the possibility of declaring bankruptcy.As part of that process, the Scouts said they are consolidating their departments and recently eliminated more than 35 positions at its National Service Center.The BSA's current youth participation is down from more than 4 million in peak years of the past. It has tried to offset the decline by admitting girls, but the membership rolls will take a big hit as of Jan. 1, when the Church of Jesus Christ of Latter-day Saints — for decades a major sponsor of Boy Scout units — cuts its ties with the BSA and launches its own global youth programs.In its announcement, the BSA made no specific reference to the sex-abuse litigation but made clear the fee increase was driven by insurance costs."Unfortunately, the cost of liability insurance we must carry to cover all Scouting activities has increased dramatically over the past several months, and the organization is no longer able to offset the cost of insurance," the BSA said.In addition to insurance, the BSA said, membership fees cover other "essential services" such as background checks for adult leaders, program development and updated youth protection and safety training.The national fees do not cover costs for uniforms and handbooks, which can easily exceed 0 per year.Scores of the Scouts' volunteer adult leaders weighed in on the fee increase in comments on a blog operated by the BSA's Scouting Magazine. Several of the leaders warned that the increase would be financially burdensome for low-income families and might drive them away from scouting.The BSA insists that the scouting remains a good value, compared with many other organized youth activities."While most extracurricular activities are seasonal, Scouting is a year-round program that remains one of the most valuable investments we can make to support young men and women," the BSA announcement said.The organization says it will strive to assist families who feel they cannot afford the higher fees. It announced creation of a fund, supported through donations, to provide financial assistance.Many of the volunteer leaders commenting on the blog were upset by the timing of the announcement. It came after Scout units had already begun collecting fees for their 2020 registration renewal process and setting their budgets for the coming year."I am extremely disappointed in the handling of this increase," wrote John Guild, a Dallas attorney who has helped lead a Cub Scout pack and slammed the move for lack of transparency as well as its poor timing. Guild also questioned how effective the fee increase would be, contending that the BSA "is facing hundreds of millions of dollars is liabilities and tens of millions of dollars in legal fees."Jason Krut, who is active with a Pittsburgh-area Cub Scout pack, called the increase "unconscionable.""It reeks of incompetence and mismanagement," he wrote on the blog. "It will force children, leaders, and families away from scouting and to seek out BSA alternatives. "Brandon Boos, a leader of a Cub Scout pack in Worthington, Ohio, said the magnitude of the increase was understandable but he faulted the timing."The roll-out did not demonstrate the same high quality of character we are trying to instill in our Scouts," Boos wrote on the blog.In a subsequent email to The Associated Press, Boos said he still loves the Boy Scouts, plans to continue as a volunteer and hopes other parents do likewise.Donald Dement, a volunteer leader with his sons' Boy Scout troop in Frisco, Texas, said most of the parents would have no trouble affording the higher fees, while hard-up families would likely get assistance from their troops.Dement said some conservative families in Frisco continue to resent major changes made by the BSA in the past decade — these included opening its programs to girls, and admitting gays as scouts and adult leaders. One local troop, he said, made hats for summer camp last year emblazoned with "Make Scouting Great Again."But regarding the fee increase, he said most scouting families "will be understanding and accepting."The Boy Scouts filed lawsuits last year against six of its own insurers, saying they have improperly refused to cover some of the sex abuse liabilities incurred by the organization. The insurers say the coverage obligation is voided because the BSA failed to take effective preventive measures such as warning parents that scouts might be abused."We believe insurance companies should uphold their commitments by paying their share of claims," the BSA said in an email to The Associated Press on Thursday. "We remain in disputes with some carriers and look forward to a resolution that benefits victims and helps them on their journey towards healing." 5951

New York Gov. Andrew Cuomo has signed into law Thursday a bill that prohibits the sale of the Confederate flag and other "symbols of hate" at the New York State Fair, and bans the display of those items in public buildings.The bill was sponsored by state Sen. Alessandra Biaggi, D-Bronx, Westchester, and "prohibits the state of New York from selling or displaying symbols of hate or any similar image, or tangible personal property, inscribed with such an image unless the image appears in a book, digital medium, museum or serves an educational or historical purpose."According to the bill, a "symbol of hate" is defined as "symbols of white supremacist and neo-Nazi ideology or the Battle Flag of the Confederacy."The bill also empowers the Commissioner of the Department of Agriculture and Markets to prohibit the sale of "symbols of hate" at any other fairs in New York that receive federal, local or state funding."This bill would limit the display of the Confederate flag, as well as other symbols of hate, on or within the grounds of public property, including fairgrounds. Further, it makes clear that New York State will not tolerate racism, exclusion, oppression, and violence through the display of such antagonistic and deeply hurtful symbols," the bill said.Click here to read the full text of the bill.This story was originally published by Anthony Reyes on WKBW in Buffalo, New York. 1407

Noah, a 12-year-old from Illinois, won second place in the kids' division in the USA Mullet Championships for his freedom flapper mullet. 145