News briefs - Corporate and M&A – Page 3
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News briefsSigna Holding withdrawn from self-administration
By order of the Commercial Court of Vienna dated Jan. 25, 2024, Signa Holding GmbH was withdrawn from self-administration upon its own request. The proceedings will now be continued as restructuring proceedings without self-administration. This was announced by the Viennese lawyer, Dr. Christof Stapf, who was appointed as administrator. The ...
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News briefsEbay slashes 1,000 jobs amid economic struggles
In a recent internal memo made public, eBay’s CEO, Jamie Iannone, announced plans to reduce the company’s workforce by 9 percent, amounting to approximately 1,000 jobs. The memo cited external challenges, including a “challenging macroeconomic environment,” as reasons for the downsizing, noting that the company’s expenses have outpaced its business ...
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News briefsSigna’s KaDeWe Group files for insolvency
Following various former Signa subsidiaries, the long-standing department store KaDeWe in Berlin has also filed for insolvency. The KaDeWe Group also includes the luxury department stores Alsterhaus in Hamburg and Oberpollinger in Munich, which would, therefore, also be affected by the proceedings. The company announced that the stores would, however, ...
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News briefsSwedemount successfully confirms reconstruction plan approval
Swedemount Sportswear & Fashion AB has successfully had a reconstruction plan approved. The majority of Swedemount’s suppliers and groups of creditors voted to confirm the reconstruction plan. Johan Andgren, the Swedish company’s CEO, expresses gratitude to nearly all creditors who have supported them throughout the reconstruction plan. Andgren attributes the ...
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News briefs
Sports Direct buys former M&S Liverpool building
Frasers Group, the owner of Sports Direct, has acquired the former Marks & Spencer store in Liverpool as part of its strategy to own the properties it occupies. The acquisition involves obtaining the long leasehold of Compton House on Church Street. The process of transforming the M&S store into a ...
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News briefsNew board and chairman at pickleball rating company
Dynamic Universal Pickleball Rating (DUPR), the company behind the eponymous rating system, has new ownership and a new board of directors, thanks to $8 million in funding from new investors. Chief among these is David Kass, real estate developer and owner of the Columbus Pickleball Club and now owner and ...
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News briefsGolf Datatech to join Circana
Golf Datatech is set to become a subsidiary of Circana, formerly IRI and The NPD Group, following an agreement reached between the two companies. The acquisition aims to enhance Circana’s research offerings, with the goal of providing comprehensive research across the entire golf industry, including major retail channels. The deal ...
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News briefsFootway group secures debt settlement
Footway Group has had its reconstruction plan approved, entailing a debt settlement where the e-commerce company will pay approximately 70 million Swedish kronor (€6.17m) to its creditors in mid-March. The decision had broad support among creditors, and the reconstruction is expected to conclude in three weeks. According to the company, ...
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News briefsFanatics to lay off 218 workers in the US
Sports merchandising giant Fanatics sent a Worker Adjustment and Retraining Notification (WARN) notice to the State of Florida and the City of Jacksonville on Jan. 11, saying it will shut down its fulfillment center at 5245 Commonwealth Avenue in Jacksonville, Florida. The move will affect 218 employees. The layoffs will ...
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News briefsEastside golf secures $3.4M funding
The trend of micro-brands making a mark in the golf industry continues, with Eastside Golf being the latest player to secure funding. The lifestyle golf brand announced on Thursday that it successfully closed a seed round led by EP Golf Ventures, a partnership between PGA of America and venture capital ...
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News briefsPE firm combines three pickleball brands
Three American pickleball brands have fused into one, with the backing of a private equity firm called Thirty-5 Capital. Specifically, Paddletek, ProXR Pickleball and Boundless Pickleball will now operate under the single name United Pickleball Paddles (UPP), a subsidiary of Thirty-5’s United Pickleball Properties. “Combining multiple respected brands under one ...
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News briefsJD Sports completes acquisition of MIG
JD Sports Fashion Plc has announced on Jan. 18 the completion of its acquisition of the 40 percent minority stake in Kraków-based Marketing Investment Group S.A. (MIG), making JD the 100 percent sole owner. The acquisition has been completed following receipt of the European Commission’s decision declaring the transaction compatible ...
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News briefsAsics Italia moves to new HQ
Japanese sportswear firm Asics has inaugurated its new Italian headquarters at Corso Alcide De Gasperi 57, in the Piedmontese city of Cuneo. Its previous Italian headquarters were located at Palazzo di Madonna dell’Olmo, also in Cuneo. The new two-floor space is designed to encourage sociality, explained the company. There are ...
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News briefsFrasers may acquire former Dutch JD-owned stores
The Netherlands-based Sports Unlimited Retail, owned by JD Sports and the parent group of Perry Sport, Aktiesport and Sprinter Netherlands, was declared bankrupt in December. At the time, around 50 stores were owned by the company. According to a new report by the Dutch media company RTL Z, up ...
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News briefsGolfForever secures $10 million in funding
US company GolfForever has developed a product allowing golfers of all skill levels to train at home. Engineered by experts in both technology and fitness, the company now announced the successful closure of a $10 million Series A funding round. Two high-profile golfers, South Korean PGA Tour winner Tom Kim ...
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News briefsColumbia appoints former Nike brand President to Board
Columbia Sportswear announced that its Board of Directors appointed Charles Denson as Director and member of its Audit Committee. Denson is already Chairman of the Board of Directors of Funko and has earlier served as President and CEO of Anini Vista Advisors, an advisory and consulting firm. Denson is a ...
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News briefsXponential updates FY23 operating highlights
US-based Xponential Fitness, Inc., a global franchisor of boutique fitness brands, which generated $1.4 billion in systemwide sales and 16 percent same-store sales growth in 2023, has updated its FY23 operating highlights. This includes an increase in the number of studios to 3,062 and total licenses to 6,255 across ...
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News briefsAmer Sports files registration statement for planned IPO in the US
Finnish Amer Sports, Inc., which includes the Arc’teryx, Salomon, Wilson, Peak Performance and Atomic brands, among others, announced on Jan. 4, 2024, that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The ...
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News briefsAdidas to set up GCC in East India
According to reports in Indian media, Adidas is setting up its first and only global capacity center (GCC) in Asia outside China in the eastern Indian city of Chennai. The location will enable the company to focus on key processes within the organization. Adidas has a headquarters in Gurugram, but ...
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News briefsSkechers opens distribution hub in Mumbai
Skechers opened a national distribution center near Mumbai, India. The 55,700-sqm facility is located in the Lodha Industrial and Logistics Park in Kalyan and has the capacity to dispatch up to 60,000 pairs of shoes daily. The site represents the initial phase of a strategic partnership to develop a 102,000-sqm ...
