Posted on 09/04/2009 10:10:19 AM PDT by TigerLikesRooster
Liz Claiborne hires turnaround firm
NEW YORK, Sept 3 (Reuters) - Liz Claiborne Inc said on Thursday it hired turnaround firm Alvarez & Marshal on a "short term basis" to help the clothing and accessories maker improve operations and cash flow.
"We have a good relationship with our bank group and, as part of our ongoing discussions with them, agreed to hire a consultant," Robert Vill, Liz Claiborne's treasurer and vice president of finance, said in a statement.
Vill said the company engaged the firm "on a short term basis to review our working capital and cost reduction plans in order to recommend opportunities to improve cash flow, both in the (United States) and in Europe."
(Excerpt) Read more at iii.co.uk ...
Ping!
I know they’ve got some major IT project going on that will allow all of their employees to work from home so that they can ditch their very expensive Manhattan real estate
Liz Clairborne is going down? That can’t be a pretty sight.
Isn’t her son Anderson Cooper? My guess is he knows all about going down.
The company I work for hired a consulting firm this year. They felt that this was the perfect time to make us leaner and meaner before the sh!t REALLY hits the fan.
I work for a family-owned, solid bunch of old, Christian, white guys. D@mn Capitalist Pigs, LOL!
I’m glad to see it. The few changes we’ve implemented to date (cutting seasonal staff a month earlier than usual, changing up our product lines, doing all we can to save on utilities, etc.) are already showing benefits to our bottom line. I’m almost $20K ahead of last year already for my sales figures; my ‘year’ ends EO September. :)
I can’t imagine turning a ship the size of LC around in a timely manner, but good luck to them. Love my LC ‘little black skirt.’ I wouldn’t want to be without it!
Anderson Cooper’s mother is Gloria Vanderbilt.
I hope not. Liz Claiborne is one of the few companies that makes stylish clothes for adult women...the kind that actually have hips and other curves. Most designers make clothes for models and teenagers...
Old joke:
Did you hear who got Liz Clairborn pregnant?
Max Factor
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