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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) — U.S. health officials have sparked a wave of confusion after posting guidelines that coronavirus testing is not necessary for people who have been in close contact with infected people. The new guidance was posted earlier this week on the website of the Centers for Disease Control and Prevention. The agency formerly advised testing for close contacts. But on Monday that was changed to say that testing is no longer recommended for symptom-less people who were within 6 feet of an infected person for more than 15 minutes. CDC officials have referred all questions to the agency’s parent organization, the U.S. Department of Health and Human Services in Washington. 691

NEW YORK (AP) — Curt Schilling, Roger Clemens, and Barry Bonds are the leading candidates returning to baseball's Hall of Fame ballot in a year without any favorites among the new names. Schilling was third behind Derek Jeter and Larry Walker with 278 of 397 votes last year, finishing at 70% and 20 votes shy in balloting by the Baseball Writers' Association of America. Clemens had 242 votes for 61% and Bonds 241 for 60.7%. Pitchers Barry Zito, Tim Hudson, Mark Buehrle, and A.J. Burnett, and outfielder Torii Hunter are among the top newcomers on the ballot.To get into the Hall of Fame, you must receive 75% of the votes.According to the Associated Press, Bonds and Clemens were favorites to get into the Cooperstown, but since they have been suspected of steroid use, the likelihood of getting in is diminishing. Clemens denies using performance-enhancing drugs, and Bonds said he never knowingly took PEDs.All three will be making their ninth appearance on the BBWAA ballot this year, one short of the limit, the AP reported.Per the AP, voting will be announced on Jan. 26 and inductions will be made on July 25. Members of the BBWAA must have their ballots postmarked by Dec. 31. 1195
NEW YORK (AP) — Universal Music unveiled a previously unheard and unreleased song by the late Queen frontman Freddie Mercury.The record label announced the track, "Time Waits for No One," on Thursday. It was originally recorded in 1986 for the concept album of the musical "Time" with musician Dave Clark.A video to accompany the song was also released and includes unseen performance footage of Mercury. It was recorded in April 1986 at London's Dominion Theatre.Mercury died of AIDS-related pneumonia in 1991 at 45. He was the subject of the uber-successful film "Bohemian Rhapsody," which won actor Rami Malek an Academy Award.The film also won Oscars for best sound editing, best sound mixing and best film editing. 727
NEW YORK (AP) — A federal judge on Sunday postponed a Trump administration order that would have banned the popular video sharing app TikTok from U.S. smartphone app stores around midnight. A more comprehensive ban remains scheduled for November, about a week after the presidential election. The judge, Carl Nichols of the U.S District Court for the District of Columbia, did not postpone that later ban. The ruling followed an emergency hearing Sunday morning in which lawyers for TikTok argued that the administration’s app-store ban would infringe on First Amendment rights and do irreparable harm to the business.Earlier this year, President Donald Trump declared that TikTok, owned by Chinese company ByteDance, was a threat to national security and that it must either sell its U.S. operations to American companies or be barred from the country.TikTok is still scrambling to firm up a deal tentatively struck a week ago in which it would partner with Oracle, a huge database-software company, and Walmart in an effort to win the blessing of both the Chinese and American governments. In the meantime, it is fighting to keep the app available in the U.S.TikTok said in a statement that it was pleased with the court ruling and continues to work to turn its deal proposal into an actual agreement. The Commerce Department, which is responsible for the specific orders banning TikTok, said it will comply with the judge’s order but intends to vigorously defend the administration’s efforts against the app. 1519
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