YGM Intends To Acquire Austin Reed Ambitious Targets.
Because of the continuing slowdown in the global economy and the pressure of increased operating costs, many apparel retailers are in trouble.
The first to sing the bugle call was the American apparel retailer Aeropostale and American Apparel.
But at the end of last month, British clothing retailer Austin Reed also declared bankruptcy.
at present
YGM
The potential competitive competitors will be as high as 50.
It is reported that Austin Reed is still choosing among the bidders.
Among them, YGM, a Hongkong trading company, shows a clear interest in controlling.
However, it is not so easy to become a controlling shareholder of Austin Reed.
Last month,
Austin Reed
All issued shareholders' loan notes and capital stock have been Alteri Investors
Buy
。
However, if the bidding is successful, YGM will represent Hong Kong enterprises and Chinese capital going abroad again.
In fact, the confirmation of YGM is needed.
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The market of high-end market is not as stable as we imagined.
Especially when the men's wear market is generally shrinking, many retailers are miserable.
We said earlier that BHS, an old British department store, filed for bankruptcy, but then Austin Reed, a 116 year old senior British menswear retailer, also announced bankruptcy protection.
Therefore, the bankruptcy of two old department stores is likely to bring greater pressure on employment in the UK.
It is reported that Austin Reed has hired consultant Alix Partners to make valuation for sale.
However, the unemployment rate caused by two chain stores will increase to 12 thousand and 200.
Due to the global market downturn, the strong implementation of the anti-corruption policy in the Chinese market has led to a more sluggish men's wear market. In addition, the backward management of Austin Reed is also an important factor contributing to the decline in the profitability of the group.
The demand for traditional men's symptoms has dropped sharply, which makes Austin Reed and other streams difficult.
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