Sycamore Partners and what they end up with and whom they hurt - the truth

Nine West files for bankruptcy protection Apr 6 (this IS the future for Staples)

Nine West Holdings filed for bankruptcy as flagging sales and too much debt felled the shoe and clothing company controlled by Sycamore Partners.

The company filed for protection from creditors in federal bankruptcy court in New York, listing debts of more than $1 billion. The Chapter 11 proceeding allows the company to stay in business while it works out a plan to repay its creditors.

Nine West carried one of the most severe debt loads in the retail industry. The company has been negotiating with its creditors at least since last year, with an eye on selling assets to raise cash.

The brand, named for its original Manhattan street address, aimed to meld comfort and fashion. But the company missed on some style changes and wound up in the hands of Sycamore, known for turning around deeply distressed retail brands. Sycamore bought Nine West as part of its 2014 purchase of Jones Group Inc. for about $2.2 billion including debt.

Since Sycamore's founding in 2011, the New York-based private equity firm has snapped up, financed or invested in struggling retailers such as Staples, Belk department stores and Talbots. Nine West would be the latest in a string of retail bankruptcies, led by last year's Chapter 11 filing by toyseller Toys 'R' Us.

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11 replies (most recent on top)

I work at Talbots and no , they are not doing well . missing their numbers for almost a year . Meanwhile, employees are suffering. No raises for several years and benefits are constantly being cut .

Much better than if the company had folded

yup, a terrible marriage is always better than a divorce.

Talbots is not publicly traded you f-ing fool. There is NO WAY to measure if the company is successful.

Go back to the Sycamore Chair in the corner.

Much better than if the company had folded.

yeah but how are Talbot's employees doing? :)

Talbots is doing very well dummy. It isn't hard to learn what companies are doing well and which aren't.

No one gives a $hit poster - you are an ahole. Folks making claims Talbots is doing well is just flat out bs.

No one gives a sh-- whether you believe the poster or not. If you're curious do a seconds worth of research and you'll have your answer.

Talbot's is doing good?..... says who?

Please show any proof this is true. I do not believe that is the case.

they saved talbots by jettisoning employees and benefits

Meanwhile Talbot's who was on the verge of bankruptcy before Sycamore - is doing better business than they ever have before and are growing and opening new stores.

Business is tricky. Sycamore may have failed nine west but at the same time saved Talbot's. So it's not like they have no success stories.

Thread regarding Staples Inc. layoffs

Sycamore Partners and what they end up with and whom they hurt - the truth

11 replies (most recent on top)

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