Milan, Italy -– Enrico Cavatorta, who accepted the role of CEO at global eyewear manufacturer/retailer Luxottica Group in September 2014, has resigned due to what the company termed disagreements with corporate governance structure. Board member Roger Abravanel also resigned for the same reason.
New York -- Ann Inc., parent of Ann Taylor and Loft, said Tuesday it has entered into a non-disclosure agreement with Golden Gate Capital to provide certain non-public information with the private equity firm.
Golden Gate disclosed in a filing in March it bought a 9.5% stake in the women's clothing retailer. Ann said it has been engaged in a "collaborative, constructive" dialogue with Golden Gate since March.
Coppell, Texas -- Alco Stores Inc. on Sunday filed for Chapter 11 bankruptcy, with plans to liquidate or sell the business.
The 113-year-old retailer and its subsidiary, Alco Holdings Ltd Liability Co., filed voluntary petitions for relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division. It listed assets of $221.7 million and debt of $161.6 million.
Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.
The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.
