Sears Inks Real Estate Deal for Certain Sites for $62M

Sears Holdings Corp. is selling a combination of real estate assets to Amerco Real Estate Co. for $ 62 million.
The retailer said it had been in talks with potential buyers for certain assets, and had determined to sell to Amerco just before its voluntary Chapter 11 petition for bankruptcy court approval on Oct. 15. The discussions yielded an agreement in principal, but no executed agreement memorializing the contract’s terms until this past Thursday.
The property that will be sold includes 12 parcels of land that either is now occupied by or in the past housed a Kmart store and one location houses a Sears store. Included in the transaction are six commercial leases, all of which are leased to Sears or one of its debtor affiliates.
In a court document seeking approval for the sale, Sears said “three locations are ‘dark’ and six locations have negative EBITDA [earnings before interest, taxes, depreciation and amortization]. Although the remaining four locations are generating positive EBITDA, the purchase price being paid by [Amerco] warrants proceeding with the sale.”
The parties have entered three-month occupancy agreements for 10 of the 13 parcels that provide for Sears to pay related real estate taxes and water and sewer charges and

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Bum Equipment Inks Footwear License

Bum Equipment said it has signed a license agreement with Unity Brands Inc. for the manufacture of Bum Footwear.
According to Stephen Wayne, chairman of Bum, the footwear collection — for young men and boys — is slated for fall 2018. Men’s shoes will be available in fall 2019, with price points between $ 24.99 and $ 39.99.
“The addition of the footwear category will bring out current license roster now to 11 for the USA market,” Wayne said.
Bum’s heritage collection of sportswear became available last fall through a special collaboration with Urban Outfitters. The brand itself was relaunched late 2016 as the brand celebrated its 30th anniversary, with some of the product available on Amazon. It had been largely absent from stores, but had a resurgence after singer Rihanna was seen wearing a Bum sweatshirt in 2015.
Wayne acquired the Bum brand out of bankruptcy court proceedings in 1997. It was founded in 1986 as a street fashion brand, and had its heyday in the mid-Nineties when log apparel was in favor. After acquiring the brand under his firm SOS Management, Wayne inked more than 35 licenses, which brought annual volume to $ 2 billion by 2004.
After the Urban Outfitters collaboration, Wayne expanded the brand’s

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Global Brands Group Inks Licensing Agreement With AllSaints

LONDON — AllSaints, the British contemporary label known for its biker jackets, has signed a licensing agreement with the Hong Kong-listed Global Brands Group to expand its accessories range.
As part of the agreement, GBG will design and distribute men’s and women’s footwear, socks, costume jewelry and cold weather accessories for the brand, starting with the fall 2018 collection. The company plans to distribute the new ranges globally across AllSaints stores and major department stores around the world.
William Kim, AllSaints’ chief executive officer, said that the new deal offers an opportunity to connect with customers across multiple product categories.
Jarrod Kahn, president of accessories and home at GBG, added that the brand’s global appeal offers an attractive opportunity to scale the business through the development of new categories: “With its innovative, contemporary designs and independent spirit, AllSaints is a perfect addition to our strong portfolio of leading consumer brands. As a brand that resonates with consumers globally, we see significant opportunities for growth, and look forward to leveraging our expertise to maximize its potential.”
GBG is part of the Fung Group and manages licensing for several dozen brands including Under Armour, Kenneth Cole, Juicy Couture, Kate Spade New York and Tommy Hilfiger.
Last year,

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Sofía Vergara Inks Deal to Sell Itty-Bitty Studio Apartment in Miami Beach’s North Beach (EXCLUSIVE)

A couple of years before she landed her star-making role as heavily accented, preternaturally sexy and hilariously superstitious trophy wife Glóría Delgado-Pritchett on the now-iconic sitcom “Modern Family,” Colombian-born and bred actress Sofía Vergara, married to equally alluring actor Joe Manganiello, paid $ 165,000 for a pint-sized studio apartment in an unassuming, low-rise building in the […]

Variety

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Erica Messer Launches Production Company, Inks New Two-Year Pod Deal with ABC Studios

Erica Messer has expanded her relationship with ABC Studios with a new two-year pod deal in addition to launching her own production company, Variety has learned. Messer has launched Erica Messer Productions at Disney, which is focused on creating original series for ABC Studios. Messer has brought on longtime friend and TV/film development executive Deborah Cincotta,… Read more »

Variety

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Huntsman Textile Effects Inks Deal With Bangladesh’s Viyellatex Group

Huntsman Textile Effects, a major global suppliers of textile dyes and additives, has entered into a partnership and collaboration agreement with Bangladesh‘s Viyellatex Group.
Under this agreement, Huntsman will support Viyellatex’s mills to streamline operations and optimize processes, train technical staff, and make recommendations to help improve yield and productivity. This strategic cooperation will enable Viyellatex Group to continue to achieve operational excellence and meet the requirements of international brands, and reinforces the recognition of Huntsman as a preferred supplier of the Viyellatex, which has spinning, knitting, dyeing, accessories and printing facilities in Bangladesh.
This cooperation allows Viyellatex to further leverage Huntsman’s research and development capabilities, innovation and focus on sustainability.
David Hasanat, chairman of Viyellatex, said, “The support from Huntsman will help us be more competitive in this fast-growing market. It will help us to comply with the stringent product, operational and environmental demands from our global customers. Viyellatex Group places strong emphasis on sustainability by minimizing energy usage, adopting waste and water recycling, and using only organic materials and environmentally compliant chemicals and dyes and Huntsman is the perfect partner in this regard as they share this vision.”
Noting that the textile industry is Bangladesh’s most important export sector and an important

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Geox Inks Distribution Agreement for Chinese Market

MILAN — Italian footwear company Geox, known for its trademarked “breathable” shoes, has inked a distribution agreement with Pou Sheng International, one of the leading retailers in the Chinese sportswear market, which is listed on the Hong Kong Stock Exchange.
The agreement comprises the exclusive distribution of the brand’s adult collections, as well as the opening of 350 new stores, both monobrand and shops-in-shop, in the first five years.
“I am very satisfied with this strategic agreement aimed at developing properly our brand distribution in China where, in our directly operated stores in Shanghai and Beijing, Geox has already demonstrated to have strong potential,” said Mario Moretti Polegato, chairman and founder of the brand.

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John Galliano Inks Production Pact

PARIS – Ahead of its fall-winter 2015 women’s show in Paris today, John Galliano said it has inked a licensing agreement with Italy’s Modalis to produce its men’s and women’s ready-to-wear.
The first collections under the new pact are to be unveiled in June for the women’s resort and men’s spring-summer 2016 seasons.
In addition, the Galliano company plans to combine its signature collection and Galliano second line into one range, positioned as a contemporary offering that “combines the brand’s history of craftsmanship and extroverted elegance with an accessible attitude and price point.”
Modalis is based in Italy’s Umbria region and was formerly known as Studio Roscini, which dates back to 1990.
The Galliano company has recently produced its collections in house in the wake of the financial troubles of its previous licensee Ittierre SpA.
John Galliano sat out recent men’s seasons as it searched for a new manufacturing partner. Bill Gaytten is John Galliano’s creative director.

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Bertuzzi inks tryout with Ottawa’s AHL team

Former NHL player Todd Bertuzzi has signed a professional tryout agreement with the American Hockey League’s Binghamton Senators.
ESPN.com – NHL