Offbeat Rockport shoe company files for bankruptcy

21:55  14 may  2018
21:55  14 may  2018 Source:   usatoday.com

Cambridge Analytica files for Chapter 7 bankruptcy after scandal

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Rockport Shoe Company .

A seemingly perfect storm of economic setbacks has lashed DVS Shoe Co. with such severity that the popular action sports brand filed for bankruptcy last week. DVS's Chapter 11 filing , which includes Matix clothing (both brands are distributed by Podium), was reported on May 17, when company

Rockport Group became the latest shoe company to trip on retail's rocky terrain Monday as it filed for Chapter 11 bankruptcy protection.

The company, whose shoe brands include Rockport, Aravon and Dunham, follows Payless ShoeSource and Nine West into bankruptcy court as shoe sellers grapple with declining traffic to physical stores.

Rockport is aiming to keep its shoemaking business alive in a sale to a private equity firm. But the company warned that it may be forced to close all of its standalone retail stores, including 27 in the U.S.

Rockport partially blamed a turbulent separation from its previous owner, Adidas unit Reebok, which sold Rockport in 2015 to an entity created by shoe company New Balance and Berkshire Partners.

Cambridge Analytica files for bankruptcy

  Cambridge Analytica files for bankruptcy Cambridge Analytica, the embattled data firm that worked on Donald Trump's 2016 presidential campaign, filed for Chapter 7 bankruptcy on Thursday. The firm voluntarily submitted a petition to declare bankruptcy at the US Bankruptcy Court Southern District of New York. The filings note an estimated number of creditors between 1-49, estimated assets of $100,001 -- $500,000 and estimated liabilities of $1,000,001 - $10 million. The company has come under fire over allegations it misused the personal Facebook data of millions.

Shoes .com Insider on Rockport Shoes . Rockport shoes for men and women are modern crowd-pleasers with a large assortment of comfort and style. Rockport footwear offer their customers only the best in fit, technology and comfort. Still redefining how great everyday shoes can feel, Rockport

Aerosoles, the women’s shoe company , has filed for bankruptcy , the latest sign of distress in the US retail sector this year. The New Jersey-based company , known for selling comfortable flats in department stores such as JC Penney and its own namesake stores in malls

Separating from Adidas turned out to be "more complex," "meaningfully longer" and "significantly more expensive than planned," interim Chief Financial Officer Paul Kosturos said in a court filing.

The New Balance-Berkshire entity offloaded its stake in the business to Rockport creditors in late 2017, at which point the company began considering a sale of its assets, according to the court filing.

Rockport also said it faced disruptions in its global supply chain, contract disputes, underwhelming sales and intense competition, including online threats.

Founded in 1971, West Newton, Mass.-based Rockport is hoping to stay in business with a deal to sell its assets to private equity firm Charlesbank.

Rockport gets about 57% of its sales from its wholesale business, which distributes products to department stores, specialty retailers, independent stores and online sellers, according to court records.

The company also has 33 stores in Canada, sells products online and maintains relationships with 22 global distributors that sell its products in 35 countries.

Human remains found near spot where SUV plunged off cliff .
Authorities in Northern California say a resident found human remains inside a girl's shoe and a pair of jeans on a beach about 1 mile (1.6 kilometers) north of where a woman drove her large family off a cliff. The Mendocino County Sheriff's Department says a crew Thursday, May 10, 2018, will search the area in Westport, California, where the remains were found Wednesday. It says DNA tests will be conducted on a foot found inside the shoe to identify the remains. (California Highway Patrol via AP, File) MENDOCINO, Calif.

Source: http://us.pressfrom.com/news/offbeat/-144826-rockport-shoe-company-files-for-bankruptcy/

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