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Jeans Maker True Religion Files For Chapter 11 Bankruptcy

PYMNTS

Premium jeans brand True Religion has filed for bankruptcy for the second time in three years, according to court filings. The court filing took place in Delaware on Monday, April 13. Due to the pandemic forcing stores to close, around a million employees of various brands and retailers have been furloughed.

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Garment Factories Reeling As Importers Stop Orders Among Weak Sales

PYMNTS

The pandemic’s turmoil upon markets, with closed stores and plummeting demand for retail goods like clothing, only compound on the existing problems manufacturers in countries like Bangladesh face. In Bangladesh, jeans maker Denim Expert Ltd. sent out a shipment of clothing weeks ago and has not received the payment as expected.

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LVMH Eyes Ways To Change $16.2B Tiffany & Co Purchase

PYMNTS

jewelry market. Reuters sources said Tiffany stated LVMH doesn’t have ground to go back on its word, and if the company contests LVMH ‘s attempts to renegotiate, the deal could end up going to court in Delaware. If the deal doesn’t go well, it would be more difficult for LVMH to try again later.

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Bon-Ton Is The Next Retailer To File For Bankruptcy

PYMNTS

The retailer said it voluntarily filed for Chapter 11 bankruptcy protection in Delaware and is exploring a sale, Fortune reported. Before the announcement, Bon-Ton announced it would shutter 40 out of its 260 brick-and-mortar stores across its various brands.

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Barclays US Taps Ex-Capital One Exec To Lead Cards And Payments Business

PYMNTS

Holdaway will be based in Wilmington, Delaware, and will start his new position in July. into the future as we continue to leverage our global capabilities and deepen our presence in the market.” He will report to Barry Rodrigues, CEO of cards and payments, and Richard Haworth, CEO of the Americas business. and Germany. .”

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Lidl’s Tactical Retreat In The US

PYMNTS

Small but mighty, German discount grocer Lidl — a brand known for not only its low prices, but also its innovative store layouts and private labels, including clothing — has already gobbled up 3 percent of local market share since the chain came to Winston-Salem, North Carolina, in June 2017. jobs in the next year.

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CFPB holds field hearing on proposed rules for prepaid accounts

CFPB Monitor

Yesterday I attended the Consumer Financial Protection Bureau’s (CFPB) field hearing in Wilmington, Delaware, at which the CFPB unveiled and accepted public comment on its long-awaited proposed rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth In Lending Act (Regulation Z) (the Rule).