Legislative, Regulatory & Legal

New York -- American Apparel Inc. has reached an agreement with its largest shareholders that will bolster its financial situation, remake its board, and keep the retailer’s manufacturing in the United States.

Washington, D.C. - The National Retail Federation (NRF) has hired Paul G. Martino as VP and senior policy counsel, and promoted Beth Provenzano to VP for federal government relations. Martino and Provenzano will work with the NRF Government Relations Department and focus on emerging public policy priorities, including data security, payments, mobile and e-commerce, privacy and patent reform.

New York -- The American Apparel saga continues, with the beleaguered chain receiving a notice of default from its longtime lender, Lion Capital.
   
The default notice was based on the claim that founder Dov Charney ceased to be CEO of the company, according to a regulatory filing with the Securities and Exchange Commission today. (Lion had a stipulation in its loan agreement, which was signed last year, stating that if Charney left the company, it would be in default.)
  


Mumbai, India – In a move that may have implications for Wal-Mart, French retailer Carrefour S.A. will reportedly shutter its five Indian wholesale stores by the end of September 2014. According to Reuters, Carrefour is in advanced talks to sell its Indian assets to an unspecified buyer.

The National Retail Federation (NRF) has hired Paul G. Martino as VP and senior policy counsel, and has promoted Beth Provenzano to VP for federal government relations.

Martino and Provenzano will work with the NRF government relations department and focus on emerging public policy priorities, including data security, payments, mobile and e-commerce, privacy and patent reform.

Washington, D.C. – The U.S. Secret Service has reportedly arrested a Russian national for hacking into consumer credit card data between February 2009 and October 2011. According to Fox Business News, Roman Valerevich Seleznev, 45, was arrested July 5 for hacking into the networks of unspecified U.S. companies.

Sears Holdings has named Kristin M. Coleman as SVP, general counsel and corporate secretary. Coleman most recently served as Brunswick Corporation's VP, general counsel and corporate secretary.

Hoffman Estates, Ill. -- Sears Holdings announced today that Kristin M. Coleman will join the company as senior VP, general counsel and corporate secretary. Coleman most recently served as Brunswick Corporation's VP, general counsel and corporate secretary.

Coleman will be responsible for the oversight and leadership of Sears Holdings' legal business.