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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 plans for student loan debt forgiveness are being proposed as President-elect Joe Biden prepares to take office in just a few weeks. Many of those with student loans, as well as many economists, are hopeful some form of student loan debt forgiveness will pass.“I think it is one of the most accessible ways President-elect Joe Biden has to stimulate the economy,” said Suzanne Kahn, director of education, jobs, and worker power at the Roosevelt Institute in New York.In an interview covering the possible benefits of student loan debt forgiveness, Kahn explained the two ways in which the Biden can get the debt forgiven. One, he can push for Congress to include this debt relief in the next stimulus package, or two, he can take executive action. Either option could eliminate student loan debt for roughly 15 million borrowers and reduce the debt of another 30 million Americans.The president-elect is currently focused on pushing for ,000 to be forgiven in the next stimulus bill and has not said if he would actually consider executive action. However, he has also not refuted that option either.The latter option is certainly the more controversial way to get this debt forgiven, although many Democrats argue it is still legal and fully within a president’s power to do so. Many high-ranking Democrats in Congress explain Biden would have the authority to do this through the Higher Education Act.Experts like Kahn believe it is more likely that Congress will not agree on any amount of student loan debt forgiveness and Biden will take executive action.“I think that it is through executive action, or at least the first movement we see around it will be executive action,” said Kahn. “That really is because the federal government owes 95 percent of student debt, and the Secretary of Education has the ability to cancel it.”“My stance is that it is not inevitable,” said Neal McClusky, director of the Center for Educational Freedom at the Cato Institute.McClusky believes a third option is that no form of student loan debt forgiveness is passed, while he concedes there is a chance that Biden could issue an executive order forgiving student loan forgiveness. However, he also points out that option could be challenged in the courts with some questioning his authority through the Higher Education Act.“There seems to be straws that he can grab and say, ‘Look, this gives me the authority to just write off this debt.’ Other people say it is not clear in the law that he can do that,” said McClusky. “So, what would be the most likely outcome is that he would try. If he were to try and cancel student loan debt through executive action, it would end up in court and would be a pretty long court battle.”So, at the end of the day, where do we really stand with student loan debt forgiveness? The consensus is that it is more likely than ever before that some form of student loan debt will be forgiven, but we’re still nowhere close to a guarantee that will actually happen anytime soon.“I don’t think it is inevitable, but I do think it is important that it is on the table,” said Kahn. 3115

NEW YORK (AP) — A presidential campaign that was already tugging at the nation’s most searing divides has been jolted by the death of Supreme Court Justice Ruth Bader Ginsburg. It represents a seismic shift in a race that had been defined by a pandemic, economic uncertainty and civil unrest. Democrats and Republicans on Capitol Hill began sparring almost immediately over when to replace the former justice. But the political shockwaves were only just beginning to ripple across battleground states, where high-stakes Senate races were suddenly supercharged and presidential operations were forced to rethink their messaging just over six weeks until Election Day — and with early voting already underway in five states. 730

Nestlé's Purina is launching a line of dog and cat foods that'll include insect and plant proteins.In a press release, the company said Purina Beyond Nature's Protein would come in two versions: one based on chicken, pig's liver, and millet, which is a small, round whole grain grown in Asia and Africa. The other will use protein from black soldier fly larvae, chicken, and fava beans."Every ingredient in our food serves a purpose. With our new Beyond Nature's Protein dry pet food, we are offering a complete nutritious alternative to the conventional dog and cat products, while taking care of the planet's precious resources by diversifying the protein sources," Nestlé Purina Petcare EMENA CEO Bernard Meunier said in the news release. "We're constantly looking at ways in which we can source sustainably for the longer-term while still delivering the high-quality nutrition that pets need today and tomorrow."The company said they would first sell the new products in Switzerland this month. 1006

NEW ORLEANS, La. – A critically endangered gorilla that was born at a New Orleans zoo just six days ago has died.The Audubon Zoo says its animal care staff noticed Wednesday evening that the infant western lowland gorilla seemed lethargic and weak in the arms of its mother, 13-year-old Tumani. The young gorilla was transferred to the zoo’s animal hospital, but the veterinarian team could not revive it.The zoo says Tumani is currently being monitored by the veterinary team and the entire troop was given the opportunity to grieve the loss of the infant.The zoo says it took extra precautions leading up to the birth, working with Tumani on maternal training to prepare her to be comfortable with the possibility of staff assisting her with feeding or caring for the infant.“There are many risks involved with gorilla births and unfortunately, it is not unusual for a first-time gorilla mom to lose an offspring,” said Dr. MacLean, Audubon’s Senior Veterinarian, in a press release. “Our veterinary team worked with outside medical experts on site including Species Survival Plan Gorilla Birth Management Team, OB-Gyns, and neonatologist to help us prepare and manage this birth.”The mother and baby initially appeared to be doing very well, according to the zoo. Animal care staff were closely monitoring the infant’s health to ensure that mother and baby received the care needed. The infant reportedly appeared to be feeding and progressing well.The zoo says the cause of death is underdetermined at this time. Initially, officials say it appears that there was a lack of adequate lactation from Tumani to support the infant, but they plan to perform a necropsy to determine cause of death. Results will be available in a few weeks.“We are heartbroken over the loss,” said Ron Forman, Audubon Nature Institute President and CEO. “This has been a work in progress for many years, from the introduction of the new troop members to the announcement of the birth, everyone involved has worked tirelessly. I am incredibly proud of our team. We will continue to contribute to the conservation of this amazing species.”Many gorilla populations have declined or disappeared over the past few decades. Western lowland gorillas have been assessed by the International Union for Conservation of Nature as critically endangered, with a population decline of more than 80%, mainly due to illegal hunting, disease, habitat loss, and an increase in poaching. 2457

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