Nine West Holdings completed its financial and operational restructuring and emerged from Chapter 11. Wells Fargo and Goldman Sachs provided over $100 million of go-forward liquidity to support its operations and future growth initiatives.
Nine West Holdings and certain of its affiliates filed an amended Chapter 11 plan of reorganization with the U.S. Bankruptcy Court for the Southern District of New York. The plan is accompanied by an amended and restated restructuring support agreement.
The Wall Street Journal reported Authentic Brands Group won a bidding war with shoe retailer DSW for the intellectual property of Nine West, offering up a bid of $340 million.
Bloomberg reported that Nine West Holdings entered an agreement with Gordon Brothers and Wells Fargo to lift borrowing restrictions on its credit facility in anticipation of the holiday season.
Bloomberg reported Nine West Holdings, which will become a new company after Jones Group’s sale to Sycamore Partners, set the rate on a $470 million term loan backing the buyout, according to a Bloomberg source.