Kiko's U.S. subsidiary filed for bankruptcy

Italian beauty brand Kiko USA, a U.S. retailer that filed for bankruptcy on New Year's Day, filed for bankruptcy protection Thursday and closed 24 of 29 stores Thursday.

Frank Furlan, chief executive of Kiko USA Inc., said the company has been flirting with passenger traffic and channel changes, but eventually failed, and filing for bankruptcy protection and customs clearance can Zaful Coupon Code save the company $ 7.1 million annually in operating costs and 3.1 million US rental costs.

 

Frank Furlan said Kiko is positioned between the big names and the Volkswagen brand and is making progress on e-commerce through its partnership with Amazon.com Inc. (NASDAQ: AMZN) Amazon.

 

Chapter 11 of Kiko USA Inc. also shows that the United States retail business will continue its bankruptcy and rally in 2018.

 

According to FGRT, a research and consultancy firm under the Feng Group, major U.S. retailers announced plans to open 6,985 closed stores in 2017, an increase of 229% over 2016. According to Business Insider statistics, more than 8005 retail brand stores closed during the year. Half of them were due to bankruptcy or direct bankruptcy. The remaining large-scale reorganization of store chains with retailers was in response to changes in consumer habits.

 

In the meantime, judging from the Pandahall Coupons sales figures for the November and December holidays, there is a clear bottoming-out rebound in the traditional large department stores and retail stocks in the United States. The large size also proves that retail brands with strong brand foundation are benefiting In the digital transformation and the United States economy, the stock market's strong Keetsa Coupons performance. Nordstrom Inc. (NYSE: JWN) Nordstrom, Macy's Inc. (NYSE: M) Macy's, JC Penney Inc. (NYSE: JCP) Penney, Target Corp. (NYSE: TGT) All have strong growth signals, with the rebound signals from Gap Inc. (NYSE: GPS) Gap Group, Abercrombie & Fitch Co. (NYSE: ANF) and Crocs Inc. (NASDAQ: CROX) starting from the third quarter .

 

Percassi Group, the empty shareholder of Italy's Cosmetic Group, said it did not affect the overall business of the subsidiary, and a spokesman for the group said that Kiko recorded a 3% increase in revenue in 2017 to 610 million euros.