Last remaining Nine West stores could soon close - New York Post
Nine West is getting ready to lace up its walking boots.
The once-ubiquitous mall retailer that became a destination for stilettos, clogs and handbags has been shrinking a few sizes lately — and its stores may soon get boxed up for good, The Post has learned.
The 40-year-old brand founded by the late designer Vince Camuto is facing retail extinction as the remaining 25 stores across the country — down from about 227 a decade ago — appear to be on limited time.
That’s because Nine West Holdings, owned by private equity firm Sycamore Partners, is mulling an auction proceeding that could spur a liquidation of the chain, according to sources familiar with the situation.
“The equity is gone and the lenders are fed up,” said a source familiar with the situation. “They want to figure out how to get their money back.”
A Sycamore spokesman declined to comment.
Licensing firms have been approached to determine their interest in the company’s...Source: nypost.com