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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
Nebraska governor Pete Ricketts tweeted to the National Rifle Association on Friday to extend an invitation to host the organization's annual convention in his state.Dallas Mayor Pro-tem Dwaine Caraway made headlines earlier this week by asking the NRA to find somewhere else for its yearly convention. .@NRA - We want your convention in Nebraska. Nebraskans love our constitutional rights! #2A https://t.co/EzfghGwvdi— Gov. Pete Ricketts (@GovRicketts) February 23, 2018 489

NEW YORK (AP) — "The Magic School Bus" has traveled everywhere from Pluto to inside the human body. Now it's going somewhere new: the big screen. Scholastic Entertainment said Thursday that it will make "a feature-length, live-action hybrid film" based on the animated TV show that ran from 1994 to 1997. Elizabeth Banks will play the manic science teacher Ms. Frizzle. "The Magic School Bus," adapted from a series of books written by Joanna Cole and illustrated by Bruce Degen, centers on a group of school children who board a yellow school bus for field trips to such unlikely places as outer space or the human digestive system. 641
NEW YORK (AP) — The one-time bookselling giant Barnes & Noble is being acquired by a hedge fund for 6 million.The national chain that many blamed for the demise of independent bookstores has been ravaged by Amazon.com and other online sellers. Independent bookstores have also persisted in the face of digital publishing.The company said in October that it might put itself up for sale after it was approached by a number of potential buyers, including founder Leonard Riggio who opened Barnes & Noble stores across the country and turned it into a superstore.Barnes & Noble said Friday that it's being acquired by Elliott Management for .50 per share, an approximately 9% percent premium to the company's Thursday closing stock price. Elliott bought the U.K. bookseller Waterstones in June 2018.Waterstones CEO James Daunt will also take on the role of CEO at Barnes & Noble.The sale, valued at about 3 million including debt, is targeted to close in the third quarter if approved by regulators and shareholders.Shares of the New York company jumped 11% before the opening bell. 1111
NEW YORK (AP) — A 75-foot Norway spruce has arrived at New York City’s Rockefeller Center to serve as one of the world’s most famous Christmas trees. The tree was trucked in Saturday morning and lifted into place by a crane. The tree will be decorated over the coming weeks. It was donated by Al Dick of Daddy Al’s General Store in Oneonta in central New York. NBC says it's broadcasting the tree-lighting at 7 p.m. Dec. 2. No in-person spectators will be allowed this year because of the coronavirus pandemic. The pandemic has spurred the cancellation of other New York holiday customs including the Radio City Christmas Spectacular. 642
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