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Daily News – August 10, 2009

August 10, 2009

The Chicago Tribune and New York Post are today reporting that Hartmarx was sold to UK company Emerisque Brands UK and its partner SKNL North America. In the fight against counterfeiting, Gucci is suing credit card processors that facilitate knock-off product transactions on-line:

Gucci America said in the lawsuit filed in U.S. District Court in Manhattan that by processing transactions on counterfeits, the companies “not only supply the necessary marketplace for such transactions, they are full partners in those counterfeiting activities.”

The Wall Street Journal picked up a feed from Dow Jones about retail jobs being slashed in July:

Retailers, led by department stores and apparel sellers, sliced 44,000 positions in July. The figure is more than twice the 21,000 positions retailers shed the prior month, which was part of a staunching that had cut average monthly job losses to 27,000 per month from April through June.

MR Magazine and the New York Post are reporting that Barney’s has hired Perella Weinberg Partners to help it restructure its $500 million debt. The New York Post article goes into a bit more detail about how this could evolve into a corporate power struggle between certain lenders and owners of the company.

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