24 Burst results for "Sycamore Partners"
Pop Fashion
"sycamore partners" Discussed on Pop Fashion
"Of different interesting companies there. It is a diverse portfolio. Like, how are you putting Staples and hot topic under the same umbrella, but okay. And they are interested and perhaps pursuing a number of companies that may surprise you, two of them came out this week, Reuters reported that they are thinking about buying Ted baker. Ted baker has had some serious financial problems over the past few years. The company is out of London, had a hard time during the pants demic. And they have more casual wear too than I remembered. I went on the website today just to kind of remind myself. I was like, I know that they do suits. Like I know they do really classic looking work wear, including great suits, but it couldn't remember if they did more casual stuff and they do. They have men's and women's. I really enjoy this brand. But Lisa, I don't know if you remember. This is a side story because as I was doing research on this brand, I was like, oh, I forgot about that. Do you remember when Ted baker had a hugging problem? Oh my God. Do you remember this? Yeah, like ten himself had the problem. Well, the CEO, yeah. Back in 2018, it came out that the CEO hugged his employees and appropriately, I've seen it phrased as that he had, quote, forced hugs. The CEO's name was ray Kelvin and he ended up resigning from the company. And then it kind of spiraled out of control. He got kicked out, well, he resigned, and then they came out with a press release that was basically like, just so you know, our profits may be down by 90% the next time we report our earnings. So it was rough there for a while. They've bounced back a little bit, but basically they had a few rough years and then the pandemic hit, and it's been tough going. And then sycamore may be interested in them. Let's just put that on the back burner for a few minutes and talk about what's on the front burner. And that is, sycamore partners may buy coals. Coals? I gasped so deeply that I coughed. Coals? And I had heard about this, and I didn't believe it, and I wrote it off, and then days later, Karen brings it back to me and I still can't believe it. Lord, it looked. I learned about this the other morning at work at like 9 30 and I was like, is it too early to have a drink? So sycamore partners and Hudson's bay are both talking about submitting separate takeover bids. Hudson's bay is another company. We've talked about them here. They own sax Fifth Avenue, sacks off 5th and Hudson's bay, which is a department store out of Canada. Hudson's bay also used to own lord and Taylor before that department store crashed and burned before that entity that's been around for ages. It ended up going to shit under Hudson's bay. So again, both sycamore and Hudson's bay are planning on bidding around $60 a share for coals and are submitting offers. So even though they're submitting offers a doesn't mean that Kohl's is going to sell Kohl's has said that it is weighing different offers and is also considering staying independent. So the future of that company is really up in the air. By the time this show airs, we may have much more information they may have bid accepted a bid rejected a bid. But we do know that Kohl's has already rejected two other bids for takeovers. So people want to buy that company. Yeah. So that's a lot of information, what is sycamore partners doing right now because it seems like they are just like running after companies on a bubble or something? I got it, I got it, I got this figured out. All right, tell me, tell me. Ted baker is the company that they can buy probably for cheaper than they would be able to otherwise. To make her still coming back from this pandemic slump and the hugging incident and all that jazz. And so they can get type baker at a bargain and strengthen it, right? And come out on top. With Kohl's, this is a company that is extremely strong in terms of not just their stock price holding on after. I mean, I'm looking at it right now. It has come back up since the pandemic, and it is pretty much average pre-pandemic levels, which is great. But they're doing a lot of innovative things. They're partnering with Amazon. They're downsizing their footprint and sharing space with other retailers. They are switching up what brands they carry. And so they can be a model for retail of tomorrow because of the stop that they're doing today. So if sycamore can get in on that sweet, sweet system. Of what they're doing and replicate it at some of the other things they own. There could be benefit there. My take is that Kohl's Kohl's is doing well enough. They're not going to sell. I mean, I think this is just going to drive their prices up more. In terms of stock, not item prices, don't worry. But I think they're going to drive the stock up and then turn it up both offers. Do you think that they are doing a version of show me my sutures? Line them up. Let me see who wants to have a piece of me. Yeah, Cole's just signed up for Tinder gold. And they're like, eh, maybe I'll just stay single. You can spoil me maybe. I'll think about it. What you.
Pop Fashion
"sycamore partners" Discussed on Pop Fashion
"So this guy, this is not good for him. No, it really isn't. Oh, and I forgot to tell you another part, Lisa. There's more. Oh my God. This is just like a slight little note. She know he had another company. Wait, wait, wait, before or after American apparel. Currently has one. Another one. I was not aware of that. What is it? Oh, is it like a fruit stand or something? Like innocent? Now, of course not. Do you think innocence would you think of Dolph charney? No, I do not. It's called Arya's vintage closet. It is a vintage clothing store and Costa Mesa California and it filed for bankruptcy three weeks ago. What is he doing? What is he doing? He is just rearranging his money just a little bit. Yeah, that's it, right? He is just trying to protect what he can at this difficult juncture in his financial life. He made a deal with the devil, he was so angry about getting ousted from the board that he went and found himself tens of millions of dollars, but when you are tied to a hedge fund, you are a tied to a hedge fund. Yeah. It's more like when you owe money to the federal government, they will find you. Similar to a hedge fund. If you own money to a hedge fund, they will find you. You know, hedge funds and the government should start working together. The IRS is trying to hire a whole bunch of people to do enforcement for tax evasion, maybe these hedge funds should get involved. Oh, is that maybe? Maybe I have solved. I have solved the federal government's problem. Look at you, Lisa, this is a fashion podcast and a government problem solving podcast. Who knew? I'm about solutions, okay? I'm going to start a spin off podcast called government procurement. Prokaryote and your dollars since 2022. Government procurement, pod. Wow, this man stay tuned. I'm sure we'll follow up. Yeah, you know what? Look, I gotta say something. Oh no, here we go. We're getting to the truth. So as some of you may know, of recently, in later years of the podcast, anytime we see a link that we may want to talk to a news story, we might want to cover. We just stick it in a Google Doc, so we can both look at it and pick and choose as we please. And I saw the dub charmy bankruptcy news. And I kept scrolling because I was like, I don't. This man makes me tired. I don't know if I have the energy for him this week. I just did not know if I could tolerate it. And so I passed a now Karen has brought you that tale. And I'm still tired, but at least I didn't have to tell you about it. You just had to listen. Yeah. Thank you for your service. Thank you so much. You are a hero. I'm honored, honored. How about I tell you about some positive news for a company? Yeah. An entity Esprit has made a profit for the first time since 2017. And if you're thinking, isn't that the department store brand that moms wore in the late 80s? You would be right and you might also be my mom. But this is a brand that's still out there. Contributing to the new profit status is probably this. Two years ago, Esprit closed all of its stores in Asia except for those in China. And now it says it's going to reenter those Asian markets where it previously closed and it has new management leading the way as of March 14. So they are like, oh, wow. Right now, really fresh, fresh fresh fresh. I believe the same day that they announced their recent earnings statement. They also announced this new management. So they're like, we got money, so we hired these people. New year new you. Okay. If you're still like, what brand? Esprit, which for most of my younger years, I thought it was pronounced E spirit. That's how it's spelled, of course. Hooked on phonics, worked for me. I could not read French words. No. The brand was actually founded in California in 1968 as a lifestyle brand inspired by the human spirit. Creative. The look was positive, upbeat, easygoing, translates into casual basically like smart casual. It's now based in Hong Kong, but here are some fun historical facts about the brand. In the mid 1980s, Esprit, which they write in all caps, by the way. They made headlines with its real people campaign. It had employees and customers in the campaign instead of models. Oh, they were way ahead of their time. Yeah, that was in the mid 80s. That was like when karn was born and I was about to be born. Okay, okay, okay, be careful. Careful here. Where's the lie? And in the early 90s, I'm still calling it you spirit. And in the early 90s, a spree debuted its first E collection, which was made of a 100% organic cotton. So they've been doing these things that we're talking about now and we still have sort of novelty stars in our eyes a little bit. But they were doing these things. They were a huge brand in the 80s and 90s. I do expect you listener to write in with some pictures of you wearing this brand when you were either little kids or younger adults. But it was just kind of a cool story of a brand that sticking around. It's totally different than what it was previously, right? It's based out of Asian outs going towards those markets. It's got some money. I do not know that they were still around at all. This was a surprise to me, but they were really huge. This was what the cool people wore. It was like this and united colors have been a ton. And if you have any of it in your closet or your parents have it any of it in your closet and you want to share pictures, feel free to send it to us. I remember loving their clothes. I think I was a little too young to really understand who they were other than I recognized, they have a really great branding. So I recognize their symbol, their name really easily and understood that people really love the company. And then they just kind of disappeared. So it's good to know that they are back on track and maybe we'll see more of them. Yeah, and when we eventually take a trip to Hong Kong, we'll go shop there. Of course. Yes, that is on our list of things to do. It was on our list. Thank you. If you want to pay for us to go to Hong Kong, we'll go. Like maybe not at the moment at the current moment. But soonish. Next story, what's going on over at sycamore partners? Sycamore partners is a private equity firm, which all you got to know is that their firm that got a lot of money. And sycamore owns a number of retailers that you will recognize their names and perhaps bees surprised.
Bloomberg Radio New York
"sycamore partners" Discussed on Bloomberg Radio New York
"Best to be off the road to let the NY do their job as they clean the streets So be careful bundle up good day to stay home If you don't have to go out Adams says if you are on the road you might get in the way of the plows and emergency vehicles He says just let the storm pass and let city employees do their job of cleaning up Bloomberg's Charlie pellet is out checking conditions in forest hills queens For the most part people are heating warnings to stay off roads You can hear the plows behind me now as I cross queens boulevard which cuts across queens from the Ed cops queensborough bridge to Jamaica There are 6 lanes of traffic plus a service road but right now barely a car to be seen That is if you can see because of white out conditions about the only people I'm seeing outside are the occasional snow shoveler and dog walkers In far cells queens Charlie pellet Bloomberg radio And homeowners are being urged by mayor Adams to shovel out in front of their buildings We're hearing Walgreens Boots Alliance has kicked off the sails process for its boots international drug store unit This as buyout firms including sycamore partners consider bids Bloomberg news has reported boots which mostly operates pharmacies in Britain could be valued at as much as $9.6 billion in a sale Our source says that besides sycamore other buyout firms exploring bids could include TDR capital and the Issa brothers Bain capital and CVC Capital Partners advent international and KKR and company are also said to be studying potential bids We're hearing Walgreens is also considering a potential initial public offering of boots if buyout interest isn't there The global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg This is balance of power with David Weston What do you think about infrastructure in our country We really haven't seen a major investment in roads and bridges from the federal government We do have to make a statement that China that they're not being good citizens on the world stage Where the world of politics meets the world of business with COVID with the extra demands with people leaving the profession There was a nursing shortage business leaders They're all concerned about what worked from home is doing to the cultures of their companies That one's the power with David Weston on Bloomberg radio I'm Joe Matthew in for David west in this week coming up this hour U.S. banks are facing increased scrutiny by the consumer financial protection bureau for the fees they charge you the consumer I'll talk to the head of the agency Rahe Chopra for more on his plans Plus what went wrong with the rollout of 5G cell networks I'll ask former.
Bloomberg Radio New York
"sycamore partners" Discussed on Bloomberg Radio New York
"You picking up the bill I'm happy to I've got the extra cash Since we've all been driving so much more again I've been using get upside The free gas app that pays you cash back for every gallon of gassy bite Wait a minute Are you saying you actually get paid cash when you buy gas with the get upside app Yes up to 25 cents a gallon Cash back every time I buy gas Does that actually add up to anything Some months I make 200 to 300 bucks Wow That's serious extra cash I'm downloading the free debt upside app now Download the free get upside app now In the App Store or Google Play to save up to 25 cents a gallon when you buy gas Use promo code buy for a 25 cents a gallon bonus on your first tank That's up to 50 cents a gallon on your next fill up You can cash out any time to PayPal or an E gift card for Amazon and other brands Just download the free get upside app and use promo code by for a 25 cents a gallon bonus on your first tank That's code bye You come into bed Hun Yep honey I'll be right there I just gotta turn out the light Ow Some things never change Like your kids always leaving tiny toys on the floor for you to step on And Geico saving folks lots of money on their car insurance Sweetie I think I left the downstairs light on Please don't make me go 15 minutes could save you 15% or more Burg money minute futures are pointing to a lower open after a wild ride on Wall Street yesterday As the S&P 500 are raced a 4% drop to close higher by 12 points At one point the Dow is down more than a thousand points and finished up 99 The NASDAQ gained 86 points by the close the wild swings highlighted investor nerves over the prospect of fed interest rate hikes to tackle inflation U.S. Russia tension over Ukraine is also hitting sentiment Coals was a big hit with investors throughout the day though The stock surged the most ever as the department store chain said it's heard from potential buyers Bloomberg news says sycamore partners is one of them Sycamore also owns Staples and Taylor and other chains The maker of dove soap and Ben and Jerry's ice cream plans to cut thousands of management positions Unilever's cuts would eliminate numerous regional and divisional roles.
Bloomberg Radio New York
"sycamore partners" Discussed on Bloomberg Radio New York
"Forced to take anything for myself for any kind of medical reason or anything and I feel like for course somebody to make that decision is really unjust Organizers had hoped the rally withdraw as many as 20,000 people but the turnout was much smaller A wildfire burning on the California coast is burned over a thousand acres near Big Sur hundreds of people were forced to evacuate Cal fire cruise continued to battle the blaze that was 25% contained as of this morning several structures have been destroyed That's the latest I'm dean kodiak And I'm Susanna Palmer in the Bloomberg newsroom As we've been reporting mayor Eric Adams says the officer wounded in a deadly shooting Friday remains in critical condition Adams talked about the devastating effect of the shooting on CNN's State of the Union It's just really has impacted our entire city if not the entire country Officer wilbert Mora was seriously wounded by gunfire after he responded to a domestic violence call in Harlem Friday night fellow NYPD officer Jason Rivera was also shot and died at the scene he was just 22 Rivera's funeral is set for Friday morning at Saint Patrick's cathedral We're hearing sycamore partners has reached out to Cole's corp about a potential takeover offer ratcheting up pressure on the retailer Our source says it's unclear how much sycamore is willing to pay for coals talks are preliminary and might not result in a deal A representative for sycamore declined to comment while a representative for coals couldn't immediately be reached for comment We reported Friday that Kohl's already is fielding a $9 billion offer backed by starboard value through its affiliate Acadia research The death of a 13 year old student who apparently overdosed on fentanyl at his Connecticut school has drawn renewed pleas for schools to stalk the opioid antidote naloxone more from Bloomberg's Denise Pellegrini The 7th grader was hospitalized January 13th after falling ill at a Hartford school that did not have the antidote commonly called Narcan on hand He died a few days later tragically and now ABC 7 reports Hartford city officials are vowing to put the antidote in all city schools as part of a wider drug use and overdose prevention strategy City officials are also proposing more training and curriculum changes aimed at educating staffers students and community members in substance use awareness and prevention Denise Pellegrini Bloomberg radio Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg.
WSJ What's News
"sycamore partners" Discussed on WSJ What's News
"Connect and share safely at about dot f. b. dot com slash safety. It is a week with jobs data tomorrow. The labor department will release its monthly figures for september. And later today it will release its weekly unemployment claims but for some investors. The focus is less unemployment and more about how to strike a major deal in the wine industry so with apologies to those who are uninterested in wine on the. Am edition of this podcast. We are going to spend the next three or so minutes talking about it. Specifically about why private equity investors have been lapping vineyards and hurts. Einstein has the answer and she joins us now hyena. Hey good morning tell us about all these splashy deals so as you said there's been a surge in private equity deals and there's been quite a few big name investors getting involved in the industry and it's also about scale there. There's been some large billion dollar plus seals. An example was the sale of chateau semi shell in july. Two private equity firm. Sycamore partners and we'll also have been seeing the first spac getting into the industry with the merger of vintage wine estates with a spot called this bespoke capital acquisition. And that was also the summer in all of this activity is despite the fact that actual wine consumption was down some three percent during the pandemic right. So yeah as he's the global wine consumption fell three percent last year and it hit the lowest level in eighteen years and that's according to the international organization of vine and wine. If that's the case what makes vineyard so attractive right. Now so it's not necessarily about the attractiveness of vineyards as an investment is more about the huge liquidity in the market. That's what i was hearing. When i was doing the interviews for this piece. There's been a huge amount of central bank stimulus pumped into the market so there's lots of investment capital looking for home and some of its comes to the wine. Industry vineyard is not a commodity like bale of cotton or a ton of coal. Is there any resistance within the industry to these big deals says some people that i was talking to. You were saying that the wine industry may not be the place for investors with short term investment. Horizons they're talking about house. Industry is obviously based on agriculture. Where you're at the mercy of natural pressure is like so it makes it harder to have stable returns because some years we'll be great while others could be really bad things like frost or too much rain or whatever and then she talking to winemakers. I also heard that. There's a little bit of resistance from them about the commodification of wine turning one into commodity feeds traded like a soccer bond on a digital platform. There they want their products to be drunk and enjoyed rather than something. That's going to sit in a warehouse and change owners every once in a while without being consumed in hurt is markets reporter. You can read her story about the mergers in the wind industry at wsj.com. Thanks for your time. In finally clothing retailers are trying something new. They have tended.
90.3 KAZU
"sycamore partners" Discussed on 90.3 KAZU
"And you are a white, A That is Curlett. Sevilla is a 14 year old from Harvey, Louisiana, the first script spelling Bee winner from the state and the first black American to win the competition. She's pretty new to spelling competitions. She only started training two years ago, but she's used to winning major titles. She already holds three Guinness world Records for dribbling and juggling basketballs. Sevilla hopes to one day become a professional basketball player or an archaeologist. Or both. Sequoia Carrillo NPR news. This is NPR. Private equity firm is acquiring Saint Michel wine estates for more than a billion dollars in cash. Saint Michel is the third largest premium wine company in the US as And a king of the Northwest News Network reports. Sycamore Partners bought the Washington State based ST Michel for $1.2 billion. The deal still has to get through a federal regulatory checklist, but it's expected to be one of the largest wine deals in U. S history. Ryan Pennington is spokesman First Saint Michel. We have every intention to continue investing in the growth of our company, and, more importantly, In the growth of Washington wine industry, the Pacific Northwest wine Industry and the American Wine industry. Overall ST Michel Brands include Chateau ST Michelle 14 Hands and Columbia Crest. For NPR news. I'm Anna King. President Biden and Russia's Vladimir Putin spoke by phone today, less than a month after they met in Geneva, the White House says. Biden reiterated his call that Putin must take action against cybercriminals linked to Russia that continue ransomware attacks on U. S businesses, Biden told Putin The U. S reserves the right to defend its people and its critical infrastructure. Stocks finished solidly higher to end the week on Wall Street. You're listening to NPR news and coming up on all things considered from K Z. You are some who travel series takes us to three pubs in London. I'll drink to that to learn how this British institution began, how it evolved and what threatens its future. Story in.
WHAS 840 AM
"sycamore partners" Discussed on WHAS 840 AM
"Widow about sharing their stories and putting all of themselves on the page. You might come away with a few excellent book recommendations for that much deserved vacation. Listen to next question with Katie Couric wherever you get your podcasts. Let's go to Bloomberg headquarters in New York. We got Donna Wilson. It's Friday afternoon, and things are popping on Wall Street. What's up, Donna? Hey, Terry. Things are popular on Wall Street. U. S. Stocks are climbing to all time highs today, led by financial companies. As investors put aside their concerns about the Delta Berrien for now. Will cigarette maker Altria is also in the wine business, but not for much longer. Altria is selling its sent Michelle Wine business to Sycamore Partners for one and a quarter billion dollars. The company is unloading businesses that have nothing to do with tobacco. But speaking of tobacco, Philip Morris is trying to expand its non tobacco business. Last week it purchased the nicotine chewing gum. And today, it announced it's buying a British asthma drug maker. But one and a quarter billion dollars in real estate agents are having a heck of a year. Thanks to rising home prices and strong sales. Real estate agents commissions, revenue is on track to top $100 billion this year. That's according to property tech company. Knock and that's your NewsRadio. 8 40 wh Js Bloomberg money? Very point. I'm Donna Wilson..
Pop Fashion
What A Victoria's Secret Spinoff Could Mean For L Brands
"Brands a spinning off. Victoria's secret as a separate company. You might remember that last year almonds was set to sell. Victoria's secret to sycamore partners. For like five hundred something million dollars that fell through once the pandemic had we understand. It was a bad time to make long-term decisions but albertsons still wanted to sell off. Victoria's secret which is not quite as lucrative as the only other brand it's still has in its portfolio bath and body works if you have missed the first seven years of the show. Get you out. Victoria secret wrote on the hyper sexualization train for years until the twenty teams came along and decided like we weren't exactly keen on women being seen only in push. Ross so they have a dealing with some some slumps in revenue over the recent years. Sense the sick more deal fell through. Albertans had a couple of offers to buy. Victoria's secret but they rejected them all because the company thinks victoria secret is worth more than those offers. It's probably worth between four and six billion dollars but al brands decided that offers of like three billion ish just weren't enough so it decided to spin off victoria secret into its own company. It's going to happen later this summer. My question is is this. A good coffee all brands. Is this a good call for. Victoria's secret karn discuss. Yes and yes. I've been waiting for this to happen. Listen a soap. Company was keeping that thing afloat for a long time. Bath and body works was making bank as they should. I've done a lot of research on that company. And i like them but what this means is if they get spun off. They have to do their individual earnings report on their own which means they have to be accountable for all their actions. It cannot rely on another company to keep them going. I think we're gonna see some more accountability with some vicky hush hush
AP News
"sycamore partners" Discussed on AP News
"And it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states, I might cross CEO, the Veldt Department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer. 133 year old department store chain has struggled during the Corona virus pandemic. The bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm Mike Rossia Biden and the vaccines. I'm to McGuire with an AP News fit. President Biden says his administration is working on getting another 200 million doses of Corona virus vaccine as part of an effort to get 300 million people vaccinated by the end of summer. Is also boosting shipments over the next three weeks to more than 10 million each week. Despite all those steps, fighting says the pandemic is going to get worse before it gets better. The death toll experts tell us is likely to top 500,000. By the end of next month this February. Cases will continue to mount We didn't get into this mess overnight. It's going to take months for us to turn things around. Shortages have been so severe. Some vaccination sites around the country had to cancel tens of thousands of appointments with people seeking their first shots. Tomorrow, the White House will hold the first of what will be three times a week briefings on the pandemic. I'm to McGuire AP News I'm to Maguire President Biden says the Trump Administration left a bigger mess than first thought when it came to getting Corona virus vaccines to the states and the people we have recently discovered in the final days of the transition. It was until the final days. We've got to kind of cooperation. We needed that once we arrived, a vaccine program is in worse shape than we anticipated are expected. Biden says his administration is working to buy another 200 million doses of vaccines by the summer. He also announced a boost and shipments to more than 10 million doses to the states over the next three weeks. Until now, we've had to guess how much vaccine to expect for the next week and that's what the governor's had to do. How much am I getting next week? This is unacceptable. The you know, lives or stake here. Cities and states across the country had to cancel vaccinations for tens of thousands of people after getting far fewer vaccines and previously promised over the last days of the Trump administration. Horizon Firoz customers in the Northeast. We're left without Internet service for hours today. AP Jackie Quinn has more school and work were interrupted for a number of hours from Boston to Washington, D. C. Twitter users reported difficulty with various online services, not just Verizon and among the venue's affected. Government services and major financial corporations of Horizon spokesman says the issue which impacted its files service has been resolved the disruptions worm or disruptive because millions of people are working or learning from home because of the pandemic. I'm Jackie Quinn, there will not be a 2021 class at the Baseball Hall of Fame. Three Top vote getter is Curt Schilling, Barry Bonds and Roger Clements, falling short of the 75% of the votes needed the last time no one was elected to the baseball Hall of Fame was in 2013. This is AP News. Texas, another border states under GOP control, made a deal with the Trump administration just before President Trump left office. The deal was the federal government had to consult with them before taking any action on modifying immigration regulations. Today, a federal judge in Texas Throughout, Abide administration moratorium on deportations, the state of Texas suit and asked for a temporary restraining order. A federal judge in Houston granted the request. A memo from the Department of Homeland Security instructed immigration agencies to pause most deportations. The judge ruled the administration failed to provide any concrete, reasonable justification for the pause. The 100 Day ban is a Biden campaign promise late and the Trump Administration, the state of Texas and the Department of Homeland Security, signed an agreement to consult with Texas in any other states before making changes in immigration enforcement. Ed Donahue, Washington I'm to McGuire AP News. The Biden administration is restoring relations with the Palestinians and renewing aid to Palestine. Nina refugees, the moves, reverse Trump Administration policy and signal the new administration support for a two state solution to the decades old conflict between the Israelis and Palestinians. Acting U. S Ambassador Richard Mills made the announcement to a high level virtual meeting of the United Nations Security Council. The Trump administration was heavily pro Israel recognizing Jerusalem as Israel's capital, moving the U. S Embassy from Tel Aviv and closing the Palestinian Liberation Organizations. Washington Office in septic Over 2018 might cross CIA Washington AP.
AP News
"sycamore partners" Discussed on AP News
"Earlier in the day, Leahy, the Senate president, pro temporary had sworn in members of the Senate for the MP. Meant trial of Donald Trump all centers now rise and raise their right hand. Senator Leahy, not a Supreme Court justice was selected to preside over the impeachment trial. The Vermont Democrat was first elected to Congress in 1974. Jackie Quinn Washington, The Vermont Democrat is the longest serving member of Congress. A spokesman says that he wasn't feeling well and was sent to the hospital for observation after being checked by Congress's physician. 80 year old Patrick Leahy is the Senate's president, Pro temporary earlier in the day he had sworn in senators for the start of the Trump impeachment trial. The longest serving member of the U. S. Senate's been hospitalized for observation. Vermont Democrat Patrick Leahy is 80 years old. A spokesman says he wasn't feeling well and was checked out by Congress is physician then taken to an area hospital out of an abundance of caution. Earlier in the day, Leahy, the Senate president, pro TEM Marie had sworn in members of the Senate for the impeachment trial of Donald Trump. All centers now rise and raise their right hand. Senator Leahy, not a Supreme Court justice was selected to preside over the impeachment trial. The Vermont Democrat was first elected to Congress in 1974, Jackie Quinn. Washington I, Mike Rossi, a reporting department store chain. Belk is filing for Chapter 11 bankruptcy. The Veldt Department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer with 133 year Old Department store chain has struggled during the Corona virus pandemic. Bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm like Rossio, the Veldt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer. 133 year old department store chain has struggled during the Corona virus pandemic. The bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm Mike Rossio, Biden and the vaccines. I'm to McGuire with an AP news Minute President Biden says his administration is working on getting another 200 million doses of Corona virus vaccine as part of an effort to get 300 million people vaccinated by the end of summer. Is also boosting shipments over the next three weeks to more than 10 million each week. Despite all those steps, fighting says the pandemic is going to get worse before it gets better. The death toll experts tell us is likely to top 500,000. By the end of next month this February. Cases will continue to mount We didn't get into this mess overnight. It's going to take months for us to turn things around. Shortages have been so severe. Some vaccination sites around the country had to cancel tens of thousands of appointments with people seeking their first shots. Tomorrow, the White House will hold the first of what will be three times a week briefings on the pandemic. I'm Tim McGuire. AP News I'm Tim McGuire. President Biden says the Trump administration left a bigger mess than first thought when it came to getting Corona virus vaccines to the states and the people we have recently discovered in the final days of the transition. It was until the final days. We've got to kind of cooperation. We needed that once we arrived, a vaccine program is in worse shape than we anticipated are expected. Biden says his administration is working to buy another 200 million doses of vaccines by the summer..
AP News
"sycamore partners" Discussed on AP News
"Year old Patrick Leahy is the Senate's president, Pro temporary earlier in the day he had sworn in senators for the start of the Trump impeachment trial. Leahy had a number of tested was examined by doctors that George Washington, you know, Mercy Hospital before being sent home this evening. All but five Senate Republicans voted to dismiss Donald Trump's historic second impeachment trial, making conviction of the former president for incitement of insurrection after the deadly capital sees January 6th unlikely. The test vote made clear that Trump still has sway over his party as he becomes the first former president to be tried for impeachment. This is AP News. President Biden eliminates yet another move by former President Trump Papers. Mike Rossia has more. The Biden administration is restoring relations with the Palestinians and renewing aid to Palestinian refugees. The moves, reverse Trump administration policy and signal the new administration support for a two state solution to the decades old conflict between the Israelis and Palestinians. Acting U. S. Ambassador Richard Mills made the announcement to a high level virtual meeting of the United Nations Security Council. The Trump administration was heavily pro Israel recognizing Jerusalem as Israel's capital, moving the U. S Embassy from Tel Aviv and closing the Palestinian liberation Organizations. Washington office in September 2018 might cross CIA Washington Baseball writers failed to agree on new inductees to the Baseball Hall of Fame. None of the former players got the 75% of votes needed for induction this year. I'm to McGuire Happy news. AP News I'm to McGuire the Biden administration is buying another 100 million doses each of the visor and Moderna vaccines. The president says the government's ordering 200 million more doses, which will boost the total order by 50% from 400 Million order to 600 million enough to vaccinate 300 million Americans by the fall. For now, he says, the government will surge vaccine deliveries to states the next few weeks made complaints of shortages. And a canceled appointments starting next week. That's an increase of 1.4 million doses per week. He's pledging states will get detailed forecast of what to expect each week instead of having to guess like now. Saga room agony. Washington Biden talked by phone today with Russian President Vladimir Putin press secretary Jen Psaki, including the solar winds, hack reports of Russia placing bounties on United States soldiers in Afghanistan interference in the 2020 election. The poisoning of Alexei Navalny and treatment of peaceful protesters by Russian security forces. A pair of storms bring snow to the Midwest and the South West, a tornado cut a 10 mile long path through suburbs of Birmingham, Alabama. Killing a 14 year old boy and injuring 30. Other people. Jason Williams searched through the rubble of what was his home and Fulton Dale. We're bruising and a scraped up. But other than that God had his mighty hand on this. A river of moisture is rolling toward California, prompting evacuations in hilly areas left bare by previous wildfires. With the fire scar. There's no vegetation really, too. You know, hold the water that's going to be coming off these hills sides into these residential communities. Moderate county fire Chief Michael or Katie's on K O I n the National Weather Service issued a rare blizzard warning for Lake Tahoe and much of the Sierra Forecasting up to 6 Ft of snow on upper elevations. This is AP News. Department store chain known throughout the South Files for bankruptcy. The Belt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it.
AP News
"sycamore partners" Discussed on AP News
"Washington. I'm Tim McGuire. AP News Vermont Democrat Patrick Leahy is 80 years old. A spokesman says he wasn't feeling well and was checked out by Congress is physician then taken to an area hospital out of an abundance of caution. Earlier in the day, Leahy, the Senate president, pro temporary had sworn in members of the Senate for the impeachment trial of Donald Trump. All senators now rise. Raise their right hand. Senator Leahy, not a Supreme Court Justice was selected to preside over the impeachment trial. The Vermont Democrat was first elected to Congress in 1974. Jackie Quinn Washington, The Vermont Democrat is the longest serving member of Congress. A spokesman says that he wasn't feeling well and was sent to the hospital for observation after being checked by Congress's physician. 80 year old Patrick Leahy is the Senate's president, Pro temporary earlier in the day he had sworn in senators for the start of the Trump impeachment trial. The longest serving member of the U. S. Senate's been hospitalized for observation. Vermont Democrat Patrick Leahy is 80 years old. A spokesman says he wasn't feeling well and was checked out by Congress is physician then taken to an area hospital out of an abundance of caution. Earlier in the day, Leahy, the Senate president, pro TEM Marie had sworn in members of the Senate for the impeachment trial of Donald Trump. All centers now rise and raise their right hand. Senator Leahy, not a Supreme Court justice was selected to preside over the impeachment trial. The Vermont Democrat was first elected to Congress in 1974, Jackie Quinn. Washington I, Mike Rossi, a reporting department store chain. Belk is filing for Chapter 11 bankruptcy. The Veldt Department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer with 133 year Old Department store chain has struggled during the Corona virus pandemic. Bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm like Rossia, the Veldt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer. 133 year old department store chain has struggled during the Corona virus pandemic. The bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belka's nearly 300 stores in 16 Southeastern states, I'm like Rossia Biden and the vaccines. I'm to McGuire with an AP News fit. President Biden says his administration is working on getting another 200 million doses of Corona virus vaccine as part of an effort to get 300 million people vaccinated by the end of summer. Is also boosting shipments over the next three weeks to more than 10 million each week. Despite all those steps, Biden says, the pandemic is going to get worse before it gets better. The death toll experts tell us is likely to top 500,000. By the end of next month this February. Cases will continue to mount We didn't get into this mess overnight. It's going to take months for us to turn things around. Shortages have been so severe. Some vaccination sites around the country had to cancel tens of thousands of appointments with people seeking their first shots. Tomorrow, the White House will hold the first of what will be three times a week briefings on the pandemic. I'm Tim McGuire. AP News I'm Tim McGuire. President Biden says the Trump administration left a bigger mess than first thought when it came to getting Corona virus vaccines to the states and the people we have recently discovered in the final days of the transition. It was until the final days. We've got to kind of cooperation we needed. That once we arrived of vaccine program is in worse shape than we anticipated are expected. Biden says his administration is working to buy another 200 million doses of vaccines by the summer. He also announced a boost and shipments to more than 10 million doses to the states over the next three weeks. Until now, we've had to guess how much vaccine to expect for the next week and that's what the governor's had to do. How much am I getting next week? This is unacceptable. The you know, lives or stake here. Cities and states across the country had to cancel vaccinations for tens of thousands of people after getting far fewer vaccines and previously promised over the last days of the Trump administration. Horizon Firoz customers in the Northeast. We're left without Internet service for hours today. AP Jackie Quinn has more school and work were interrupted for a number of hours from Boston to Washington, D. C. Twitter users reported difficulty with various online services, not just Verizon and among the venue's affected. Government services and major financial corporations of Horizon spokesman says the issue which impacted its files service has been resolved the disruptions worm or disruptive because millions of people are working or learning from home because of the pandemic. I'm Jackie Quinn, there will not be a 2021 class at the Baseball Hall of Fame. The three top vote getter is Curt Schilling, Barry Bonds and Roger Clements, falling short of the 75% of the votes needed. The last time no one was elected to the baseball Hall of Fame was in 2013. This is AP News. Texas, another border states under GOP control, made a deal with the Trump administration just before President Trump left office. The deal was the federal government had to consult with them before taking any action on modifying immigration regulations. Today, a federal judge in Texas throughout Abide Administration moratorium on deportations the state of Texas suit and asked for a temporary restraining order. A federal judge in Houston granted the request. A memo from the Department of Homeland Security instructed immigration agencies to pause most deportations. The judge ruled the administration failed to provide any concrete, reasonable justification for the pause. 100 Day Ban is a Biden campaign promise. Late in the Trump Administration, the state of Texas and the Department of Homeland Security signed an agreement to consult with Texas and any other states before making changes in immigration enforcement. Ed Donahue, Washington I'm TO McGuire AP NEWS. The Biden administration is restoring relations with the Palestinians and renewing aid to Palestinian refugees. The moves, reverse Trump administration policy and signal the new administration support for two State solution to the decades old conflict between the Israelis and Palestinians. Acting U. S. Ambassador Richard Mills made the announcement to a high level virtual meeting of the United Nations Security Council. The Trump administration was heavily pro Israel recognizing Jerusalem as Israel's capital, moving the U. S Embassy from Tel Aviv and closing the Palestinian liberation Organizations. Washington office in September. 2018 might cross CIA Washington AP.
WCBM 680 AM
"sycamore partners" Discussed on WCBM 680 AM
"Promise for anti body draws Ian's Cocotte 19 the latest anybody study suggests they can keep patients out of the hospital and possibly prevent illness and some uninfected people who may live with them. Ally Lily says it's drug reduced the risk of hospitalizations or death by 70% and newly diagnosed non hospitalize patients. Regeneron Pharmaceuticals said partial results of its drug suggests it helps prevent infection and housemates of people with covert 19. Some of the antibody drugs already being used to treat certain patients, and the drug makers say they will seek to expand that authorization to allow prevention approaches as well. I'm surely Adler Vasquez detected the state's first known case of the Corona virus variant identified last year in the United Kingdom. Breaking news and analysis at town hall dot com. Barbara store chain belt is filing for Chapter 11 bankruptcy in a news release private equity firms Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer with 133 year Old Department store chain has struggled during the Corona virus pandemic. The bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16 southeast Student states I, Mike Rossia. Male soldiers can let their hair down and flash little nail color under new rules being approved by the army. Male soldiers will still have to shame. Army leaders are loosening restrictions on various grooming and hairstyle rules as service leaders try to address longstanding complaints, particularly from women. Or the story's, a town.
AP News
"sycamore partners" Discussed on AP News
"A 14 year old boy and injuring 30. Other people. Jason Williams searched through the rubble of what was his home and Fulton Dale. We're bruising and scraped up. But other than that God had his mighty hand on us. A river of moisture is rolling toward California, prompting evacuations in hilly areas left bare by previous wildfires. Yet the fire scar there's no vegetation really, too. You know, hold the water that's going to be coming off these hills sides into these residential communities. Moderate county fire Chief Michael or Katie's on K O I n the National Weather Service issued a rare blizzard warning for Lake Tahoe and much of the Sierra Forecasting up to 6 Ft of snow on upper elevations. This is AP News. Department store chain known throughout the South Files for bankruptcy. The Belt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy. According to the Charlotte Observer. The 133 year old Department store chain has struggled during the Corona virus pandemic. Bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm like Rossia add a memorial service for Hall of Famer Henry Aaron in Atlanta. Former player and manager Dusty Baker says Erin pushed him to excel. Thank you. You know, for giving me love discipline sometimes you know you had to tell me like it was. Aaron died last week at 86. I'm Tim McGuire Pay P news. The Veldt department store chain is filing for Chapter 11.
AP News
"sycamore partners" Discussed on AP News
"You know you had to tell me like it was. Aaron died last week at 86. I'm Tim McGuire Pay P news. The Veldt department store chain is filing for Chapter 11 bankruptcy in a news release. Private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy, according to the Charlotte Observer. 133 year old department store chain has struggled during the Corona virus pandemic. The bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm Mike Rossio, Biden and the vaccines. I'm to McGuire with an AP News finished President Biden says his administration is working on getting another 200 million doses of Corona virus vaccine as part of an effort to get 300 million people vaccinated by the end of summer. Is also boosting shipments over the next three weeks to more than 10 million each week. Despite all those steps, fighting says the pandemic is going to get worse before it gets better. The death toll experts tell us is likely to top 500,000. By the end of next month this February. Cases will continue to mount We didn't get into this mess overnight. It's going to take months for us to turn things around. Shortages have been so severe. Some vaccination sites around the country had to cancel tens of thousands of appointments with people seeking their first shots. Tomorrow, the White House will hold the first of what will be three times a week briefings on the pandemic. I'm Tim McGuire from regular expenses to.
AP News
"sycamore partners" Discussed on AP News
"Old boy and injuring 30. Other people. Jason Williams searched through the rubble of what was his home and Fulton Dale. We're bruising and a scraped up. But other than that God had his mighty hand on us. A river of moisture is rolling toward California, prompting evacuations in hilly areas left bare by previous wildfires. With the fire scar. There's no vegetation really, too. You know, hold the water that's going to be coming off these hills sides into these residential communities. Moderate county fire Chief Michael or Katie's on K O I n the National Weather Service issued a rare blizzard warning for Lake Tahoe and much of the Sierra Forecasting up to 6 Ft of snow on upper elevations. This is AP News. Department store chain known throughout the South Files for bankruptcy. The Belt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy. According to the Charlotte Observer. The 133 year old Department store chain has struggled during the Corona virus pandemic. Bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm like Rossia add a memorial service for Hall of Famer Henry Aaron in Atlanta. Former player and manager Dusty Baker says Erin pushed him to excel. Thank you. You know for giving me love discipline sometimes you know you had to tell me like it was. Aaron died last week at 86. I'm Tim McGuire. Paper News Vaccine plan Time to McGuire with an AP News MINUTE President Biden orders another 200 million doses of Corona virus vaccines. That's 100 million. More doses of Fizer and 100 million more doses of modernity. 200 million more doses in the federal government had previously secured not in hand yet, but order by nads Estates will be getting more than 10 million doses each of the next three.
AP News
"sycamore partners" Discussed on AP News
"Old boy and injuring 30. Other people. Jason Williams searched through the rubble of what was his home and Fulton Dale. We're bruising and scraped up. But other than that God had his mighty hand on this. A river of moisture is rolling toward California, prompting evacuations in hilly areas left bare by previous wildfires. With the fire scar. There's no vegetation really, too. You know, hold the water that's going to be coming off these hills sides into these residential communities. Moderate county fire Chief Michael or Katie's on K O I n the National Weather Service issued a rare blizzard warning for Lake Tahoe and much of the Sierra Forecasting up to 6 Ft of snow on upper elevations. This is AP News. The department store chain known throughout the South Files for bankruptcy. The Belt department store chain is filing for Chapter 11 bankruptcy in a news release, private equity firm Sycamore Partners said belt will continue with normal operations as it goes through bankruptcy. According to the Charlotte Observer. The 133 year old Department store chain has struggled during the Corona virus pandemic. Bankruptcy plan will allow belt to shed about $450 million of debt, and it expects to emerge from bankruptcy by the end of February. Based in North Carolina, Belk has nearly 300 stores in 16, Southeastern states. I'm Mike Rossia add a memorial service for Hall of Famer Henry Aaron in Atlanta. Former player and manager Dusty Baker says Erin pushed him to excel. Thank you. You know, for giving me love discipline sometimes, you know, you have to tell me like it was. Aaron died last week at 86. I'm Tim McGuire Pay P news. The Veldt department store chain is filing for Chapter 11.
AP News Radio
Department store chain Belk filing for Chapter 11 bankruptcy
"Hi Mike Rossi a reporting department store chain Belk is filing for chapter eleven bankruptcy the Belk department store chain is filing for chapter eleven bankruptcy in a news release private equity firm sycamore partners said belt will continue with normal operations as it goes through bankruptcy according to the Charlotte observer the one hundred thirty three year old department store chain has struggled during the corona virus pandemic the bankruptcy plan will allow bell to shed about four hundred fifty million dollars of debt and it expects to emerge from bankruptcy by the end of February based in North Carolina Belk has nearly three hundred stores in sixteen southeastern states hi Mike Rossio
Business Wars Daily
Corporate Buyers Remorse: Victorias Secrets Sale Falls Through
"From wondering. I'm David Brown and this business. Wars daily on this Monday may eleventh. Victoria's secret is starting to look like one of those. Oh things around the house that you can't seem to sell and maybe you can't even give it away in February L. Brands. Victoria's secret's parent company. Agreed to sell a majority of the lingerie brand to a private equity firm for just over half a billion dollars. The deal with Sycamore partners appear to be a last ditch effort to keep Victoria secret alive. Not only has the brand been perceived to be out of touch with today's body positive customers but it has also been buffeted by scandal notably L. Brand CEO Les Wexner had been associated with Jeffrey Epstein. The alleged sex trafficker who died in his prison cell last year. In addition the New York Times published an expose about. Victoria's secret in February. The investigation turned up. Detailed sexual harassment and hostile workplace claims by employees and models claims that L. Brands didn't deny between the scandals and years of marketing misteps. It was as if the once glittering Victoria's secret couldn't get out of its own way though still selling plenty of merchandise. The brand lost more than six hundred million dollars last year. As Victoria's secret star was falling it sibling brand. Bath and body works was soaring. But Victoria's secrets problems. Were a drag on bath and body works and that damaged their parent company. L. Brand stock price fell more than half in the twelve months. The Wall Street Journal reported. So the deal was sycamore. Seemed like a solution to L. Brands. Difficulties Sycamore would take. Victoria's secret private but leave bath and body works. In the hands of L. Brands L. Brands could then pour more resources into the soap and candle retailer whose profits were bubbling along CEO. Wexner who is eighty two years old planned to step down from his post when the deal closed but last week the deal fell apart in late. April Sycamore Partner Sued L. Brand saying that Victoria secret hadn't kept up. Its end of the bargain among other things. Sycamore criticized L. Brands for closing. Virtually all of its sixteen hundred brick and mortar. Victoria's secret and pink stores globally failing to pay April rant and furloughing most of its employees during corona virus. Lockout as a result. Sycamore said the private equity firm should be allowed to back out of the deal. Some analysts defended L. BRANDS. Actions since closures were either prudent or mandated by state and local governments retail dives. Daphne Jalan reported others however said L. Brands should have consulted. More closely with Sycamore. L. Brands fought back. They countersued saying that. Sycamore suit appeared to be an apparent case of buyer's remorse according to Jalan they remarked on the irony. That other retailers already owned by Sycamore also closed their doors finally L. Brands accused Sycamore of simply trying to negotiate a lower purchase price. For Victoria's secret L. brands appear to be ready for a fight but last Monday the two companies said the deal was off. L. Brand said it didn't WANNA spend time and money in court trying to force a partnership. Sycamore walked away unscathed which leaves L. Brands in a precarious position. Some analysts are speculating that the company will put Victoria secret up for
Business Wars Daily
The Saga Ends: Victorias Secret Sells, CEO Les Wexner Steps Down
"Secret. Just can't stay out of the news last Thursday after many months of turbulence L. Brands CEO Les Wexner announced that he's stepping down. Victoria's secret wants the brand that dominated women's lingerie like no other is going private. Both announcements smarter dramatic turning point in the company's fortunes and in the way retailers portray and market to women L. Brands is selling fifty five percent of Victoria. Secret to private equity firm Sycamore partners. Four or five hundred twenty. Five million dollars. Sycamore specializes in purchasing distressed properties and apt description. Victoria's secret wexner who is eighty. Two years old will become chairman emeritus of L. Brands which remains publicly held L. Brands and Les Wexner have been buffeted by a series of scandals over the last couple of years most notably wexner close association with Jeffrey Epstein. Which came to light last summer? Epstein? The accused child sex trafficker who died in prison had been wexner financial advisor. Wexner has denied knowing about Epstein's sex trafficking activities and says he distanced himself from Epstein years ago regardless that close association hurt L. Brands. At a time. When Victoria's secret was already under duress it? Sales have been falling for several years as the METOO era caught up with women's fashion third love and other more modern lingerie brand. Espoused inclusivity over. Victoria's secrets risque sexiness. More and more critics complain. It's insulting an outmoded then early this month. The New York Times published an investigation of L. Brands that depicted a culture of misogyny and sexual harassment. It seemed that L. Brands was on. Its Way to a hard crash observers. Warned that Victoria's secret would be hard to sell indeed selling fifty five percent. Five hundred twenty. Five million dollars indicates the brand is valued at only a little over a billion dollars in its last fiscal year. However though losing money Victoria secret had sales of more than seven billion dollars. The Wall Street Journal says that Billion Dollar Valuation marks a sharp fall. For the brand. The Victoria's secret sale leaves L. Brands with only one single but profitable brand. That's bath and body works the presumption is that without the drag of Victoria's secret L. Brands can continue to grow the personal care chain. The same may not be at all true. For Victoria's secret sycamore partners under the leadership of secret of cheap stefan. Caluzzi IS KNOWN FOR FINANCING. It's purchases through debt and then stripping and selling off their assets. According to the Wall Street Journal the Journal reported at Sycamore has made a fortune by firing employees and otherwise cutting costs at retailers from Talbot to nine West End Klein sending many workers to the unemployment line. Overworking the ones left behind. According to the Motley Fool Sycamore partners closed most of nine west stores causing it to go bankrupt L. brands losses or third loves gains its founder and CEO. Heidi Zach as been public about her antipathy. Toward Victoria's secret third love is reportedly looking to take advantage of the moment as an opportunity to grow quickly.
Rush Limbaugh
Victoria's Secret to be sold and become private company
"Les Wexner is stepping down as the head of al brands it's unknown exactly when that will happen but the company says they'll be stepping down after the closure of the sale of a Tory a secret a fifty five percent interest all of the lingerie company will be sold the sycamore partners a private equity firm works Norris served as CEO with the company for more than five
Glenn Beck
L Brands sells majority stake in Victoria's Secret, CEO Wexner to step down
"L. brands of selling a majority stake in Victoria's secret which will take the company private sale by the Columbus based company to sycamore partners is worth an estimated five hundred twenty five million dollars the ones that closes L. brands founder and CEO les Wexner will step down hill then be noticed chairman emeritus of the company which will then make bath and body works a standalone public
Morning Edition
Victoria's Secret to be sold and become private company
"The parent company of Victoria's secret is selling control of the laundry brand in a one point one billion dollar deal according to multiple reports this morning parent company L. brands is a public company the deal would take Victoria's secret private market place is just how is following this just in why is L. brands trying to offload Victoria's secret yeah Victoria's secret is this brand that dominated fashion and culture for years and like a lot of other mall change its sales have been falling last quarter alone sales drops twelve percent of the company's been closing stores L. brand stock is down seventy three percent over the five past five years and part of this is the decline of malls and you know the way retailers changing but it's also the image Victoria's secret promoted over the years now think of the marketing the uniformity of its models the fashion show which got canceled last year more recently the companies made efforts to look more inclusive you know research shows consumers want that but other brands were just quicker to modernize this way that's not the only problem Victoria's secret is face is not right there is a big New York times investigation this year into the culture at Victoria's secret the report described bullying misogyny harassment within the company and a lot of criticism has centered on its C. E. O. Leslie Wexner scrutiny over the culture he presided over and also his close ties to Jeffrey apps the reports today say Wexner is expect this that expected to step down who's the buyer what we know about them well this private equity company called sycamore partners and it focuses on consumer and retail brands brands are often trouble the company on staples and has brought it brought up several other flagging multi chains in the past the limited the Erekle stall even hot topic market plus marketplaces Justin health thank you