By Alison A. Nieder | October 19, 2017
CIT named Nicholas Nunnari vice president and business development officer for the company’s commercial services team in Los Angeles under the direction of CIT Western Regional Manager Darrin Beer.
Citizens of Humanity’s executive management team and private investors pooled their money together to buy back the portion of the company owned by private-equity investor Berkshire Partners and cofounder Jerome Dahan.
As the retail industry has changed into a split personality of online and offline shopping, so too has the factoring industry that finances manufacturers’ production and sales to clients.
In one year, retail employment declined by 29,000 jobs. What had been the second largest private-sector employer in the United States has dropped to the fourth largest, according to the recently released UCLA Anderson Forecast.
Commercial lender CIT Group has named Kenneth McPhail as executive vice president and chief strategy officer, effective immediately.
DSTLD, the direct-to-consumer contemporary brand for men and women, is preparing to open up its second round of crowdfunding.
Only four months after filing for Chapter 11 bankruptcy protection, Bachrach men’s stores is expected to emerge from bankruptcy by the end of August with 15 stores intact.
For nearly a decade, interest rates have remained near zero, meaning it was very inexpensive for businesses to borrow money. But those sunny days may be over. Twice this year, the Federal Reserve has raised the prime rate, and it is expected to do so again later this year.
Retail sales are inching forward this year with a strong nudge by online purchases fueled by millennials who prefer shopping on their smartphones and computers.
The UCLA Anderson Forecast says Trump's prediction of 3 percent GDP growth probably won't happen.
In 2015, some 747,600 people in California were directly employed in creative-industry jobs, a 13.5 percent increase from 2010, according to the “2017 Otis Report on the Creative Economy of California,” released on May 18 by the Otis College of Art and Design.
Five months ago, White Oak Global Advisors acquired Capital Business Credit, known for its asset-based lending portfolio. Now White Oak Global is renaming Capital Business Credit to White Oak Commercial Finance.
Even though the U.S. economy is predicted to be on sound footing this year, the stack of retailers closing their stores due to bankruptcies or slipping sales keeps piling up at an alarming rate.
It’s a group that includes factors, bankers, lawyers, certified public accountants, insurance agents and other members of the professional services community that specialize in working with apparel businesses.
How Are Finance People Handling the Weak Retail Market and Have They Adjusted Their Financing Rules for Clothing Manufacturers?
As retailers start shrinking their footprints around the country, apparel manufacturers are wondering how to cope with this constricting retail landscape.