Ibex, an American producer of woollen outdoor apparel, is planning to shut down, according to SNews. It has already laid off more than half of its 40 employees. Its assets have been taken over to place them in liquidation. After its takeover in 2010 by a private equity firm, North Castle Partners, Ibex opened single-brand stores in Boston, Seattle and Denver, while working more closely with key accounts, but the strategy didn't work.
Related articles
-
News briefsGreen Theme Technologies secures $6m for expansion
The US sustainable textile and materials science company raised funding to advance eco-friendly technologies for various high-performance markets.
-
ArticleAccell Group secures creditor support for recapitalization
The company’s creditors approved the restructuring plan, paving the way for recapitalization implementation.
-
News briefsNewell Brands prices $1.25bn in notes to refinance debt and extend maturity profile
The parent of Marmot, Coleman, Contigo and Campingaz has announced $1.25 billion in new notes to refinance existing debt, supporting longer-term financial flexibility.