Renown, a century-previous textile organization which sells dresses under brands such as Arnold Palmer, Hiroko Koshino and D’Urban, verified it experienced submitted for individual bankruptcy security just after a month-extensive closure of department shops brought the already-having difficulties business to its knees.
It joins a listing of worldwide manner companies, which include merchants such as J. Crew and Neiman Marcus, which have collapsed owing to the pandemic.
Renown, which at one stage owned British clothier Aquascutum, experienced claimed losses for several years. Shandong Ruyi emerged as a primary shareholder in Renown a decade ago and has given that turn out to be its bulk stakeholder.
Previously this yr, Renown stated it