Roberto Cavalli Closes US Stores, Will Liquidate North America Operations

Apr 01, 2019 289

BY: Lauren Sherman

Struggling Italian fashion house Roberto Cavalli has closed its US stores and is preparing to liquidate its North American operations. On Friday, the same day the brand announced plans to seek an agreement with creditors in a bid to keep the business afloat while it continues to search for an investor, security guards entered the company's US stores — including approximately seven full-line stores and a handful of off-price outlets — and instructed employees to leave, according to two salespeople.

Employees were told by senior corporate management that the fashion house planned to close its brick-and-mortar stores in the US as the business restructures. As a result of these changes, several corporate executives, including US CEO Salvatore Tramuto, have resigned. 

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SOURCE: https://www.businessoffashion.com

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