Interviews
News Flash
Denim apparel maker Blue Holdings re-launches Yanuk brand
25 Sep '07
2 min read
Blue Holdings Inc a designer, manufacturer and distributor of high-end fashion jeans and denim apparel, provided an update on its turnaround plan to restructure the organization and position the Company to achieve its long-term growth objectives.
Specifically, Blue Holdings will discontinue its underperforming Life & Death brand, seek to exit its existing two retail stores and reduce its workforce by approximately 25%.
The Company's announcement follows a thorough and careful review of the business, and is in-line with its ongoing commitment to improve the Company's financial performance.
Blue Holdings will exit its underperforming businesses/brand, as well as close its two existing retail stores in Los Angeles and San Francisco within the next 60-90 days.
The Company will also reduce its workforce by 35 employees, or approximately 25% of its full-time staff, by the end of October.
Glenn S. Palmer, the Company's Chief Executive Officer, stated, “As we discussed on our second quarter conference call, the management team and board of directors are keenly focused on returning to profitability."
"We believe we are taking the appropriate steps to preserve the capital necessary to grow and create value for our shareholders. By narrowing the scope of our operations, we believe we will accelerate our core brands and grow our revenue base."
"In connection with these planned restructuring activities, we anticipate projected savings of approximately $2.8 million in 2008, and $750,000 in 2007.”
Specifically, Blue Holdings will discontinue its underperforming Life & Death brand, seek to exit its existing two retail stores and reduce its workforce by approximately 25%.
The Company's announcement follows a thorough and careful review of the business, and is in-line with its ongoing commitment to improve the Company's financial performance.
Blue Holdings will exit its underperforming businesses/brand, as well as close its two existing retail stores in Los Angeles and San Francisco within the next 60-90 days.
The Company will also reduce its workforce by 35 employees, or approximately 25% of its full-time staff, by the end of October.
Glenn S. Palmer, the Company's Chief Executive Officer, stated, “As we discussed on our second quarter conference call, the management team and board of directors are keenly focused on returning to profitability."
"We believe we are taking the appropriate steps to preserve the capital necessary to grow and create value for our shareholders. By narrowing the scope of our operations, we believe we will accelerate our core brands and grow our revenue base."
"In connection with these planned restructuring activities, we anticipate projected savings of approximately $2.8 million in 2008, and $750,000 in 2007.”
Popular News
Leave your Comments
Editor’s Pick
Pratik Gadia
The Yarn Bazaar - Filosha Infotech Private Limited
Salvatore Piccione
Label - Salvatore Piccione
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
