Homefancy clothes → From Forever 21 to Mary Paz or the mythical Barneys, the fashion companies that went bankrupt in 2019

From Forever 21 to Mary Paz or the mythical Barneys, the fashion companies that went bankrupt in 2019

2019 has been a difficult year for some fashion brands. And if not, tell the American giant Forever 21 that this exercise has declared bankruptcy. The fact does nothing but point to a change in the consumption model championed by new generations more digital and with more considerations when it comes to stretching the pocket.

The fast fashion fashion brand, habitual at music festivals, competed with other popular chains such as the Swedish H&M or Zara. Founded in 1984 and present in 50 markets, the company was presented in the early 2000s as a low-cost alternative to pieces offered by high-end designers and from the United States.

But it has not been the only company in the fashion sector to be affected. The brick crisis derived from the rise of online has also hit the legendary American department store group Barneys. The historic New York store will remain open although the company has already closed up to 15 department stores.

And Spanish fashion companies have not been the exception either. From the popular shoe store chain MaryPaz to Amichi or Sybilla's haute couture. And a common denominator draws attention to many of these companies in liquidation or that have managed to be rescued: the hand of the Black Toro fund in one way or another.

We tell you which are the fashion companies that have gone bankrupt or have filed for bankruptcy in 2019.

Forever 21

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It has been one of the most notorious falls of the year. The popular American fast fashion chain, Forever 21, filed for bankruptcy protection last September. The company reported that the situation was voluntary based on Chapter 11 of the United States Bankruptcy Law and sources within the company have assured that this measure allows them to operate normally until they find a solution to restructure the business.

Forever 21 reported in a statement that this step has been very thoughtful and that its purpose is to get the company on the right track.

marypaz

marypaz

De Forever 21 a Mary Paz o la mítica Barneys, las empresas de moda que quebraron en 2019

Another popular Spanish chain has gone into liquidation. In this case, it is a footwear chain, MaryPaz. The fund and main shareholder of the Andalusian company, Black Toro Capital, has finally taken the low-cost shoe store company into bankruptcy.

The main reason that the company has gone to tender is that the chain cannot meet the working capital needs of 15 million euros.

Finally, the company was saved from the contest after Crocea Mors, owned by Alvaro Pellón López Montenegro, bought the brand, the offices and the logistics platform of MaryPaz.

barney's

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But not everything is fashion brands. The legendary New York luxury department store, Barneys, has not been able to overcome its economic situation. Last August, the department store group filed for bankruptcy protection in the United States, and closed 15 of the 22 establishments it has in the US market.

While the iconic Madison Avenue store in New York will remain open, the company has not been able to weather the impact of e-commerce. The group, which was founded in 1923 and faced bankruptcy in the late 1990s, will focus on finding a buyer.

sybilla

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Another who faced liquidation this year was Sybilla. This is the third time that this internationally recognized designer, and National Fashion Award winner in 2015, has tried to create her own fashion company without obtaining the expected results.

The designer tried to find a partner to save the business but was unsuccessful and had to face liquidation as she could not afford the high costs of the company and could not meet the times of the viability plan she had signed. with the creditors to get out of the last contest.

Race and Race

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The historic jewelery company faced liquidation last June after failing to pass the creditors' contest it entered into in 2018. In its last year of life, the company withdrew its commercial network by closing the shutters of stores and corners in El Corte Inglés. The company is one of the oldest in Spanish luxury and was founded in 1885.

amichi

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The fashion firm, which was also owned by the Black Toro fund, closed its doors after not finding a buyer. The company filed for bankruptcy last July and went into liquidation after several years in losses. The company closed establishments and carried out an ERE last August, which will be followed by another that will affect 500 employees.

Diesel USA

Diesel USA was another of the falls of 2019. The denim clothing manufacturer faced bankruptcy last March due to mounting losses, plummeting sales, rising rental prices and internet fraud. The parent company is not part of the statement but Diesel USA has been the sole distributor of the Diesel firm in the United States since 1995.

trick

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Better destiny seems to be in store for Trucco. The parent company In Situ, owner of the Trucco and Naëlle brands, filed for voluntary bankruptcy last March and opened the liquidation phase. Moment in which the Black Toro fund burst in with a formal investment offer for Naëlle's twenty corners and Trucco's 250.

intropia

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Another Spanish brand that has faced liquidation this year was the women's fashion firm Intropia. The company filed for voluntary bankruptcy and subsequent liquidation in 2018, since it was experiencing economic difficulties and could not meet its debts with credit institutions.

The bulk of Intropia's debt, which came to light in the 1990s as Homeless, corresponded to commitments with credit institutions. Finally, the Spanish group that owns Cortefiel, Tendam, ended up buying Intropia. The amount of the operation has not transpired but the Spanish distribution group intends to relaunch the fashion brand in the autumn-winter season of 2020.

Almatrichy

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The women's fashion firm entered bankruptcy proceedings last September, after taking advantage of pre-bankruptcy last June. The company has two stores in Madrid and eight corners in El Corte Inglés and is present in multi-brand points of sale. The fashion company also made the leap to the international market, specifically, to Germany, France, Chile, Mexico and China.

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