NexCen Brands names new ceo
NEW YORK NexCen Brands has announced that Robert D’Loren has resigned as ceo and as a member of the company’s board of directors. Kenneth Hall, currently evp, cfo and treasurer, has been appointed ceo.
David Oros, chairman of NexCen Brands, stated, “We are pleased to have Ken take on the role of ceo. Ken has been instrumental in completing the restructuring of the company’s financing arrangements and we are confident in his ability to lead NexCen as the company continues to execute the business restructuring plan initiated in May, which focuses on the franchising business.”
Hall most recently served as cfo and treasurer of Seevast, a leading online-media holding company comprised of ad networks, Pulse 360 and Kanoodle, as well as a domain asset management company, Moniker, for which Hall led the successful sale.
Linens ‘N Things earns vendor support
CLIFTON, N.J. Linens ‘N Things announced that it has obtained the support of many key vendors for its Trade Vendor Payment Program, approved by the United States Bankruptcy Court for the District of Delaware last month.
Springs Global US, the Yankee Candle Company, Croscill Home Fashions, and M. Block & Sons, four major suppliers of merchandise to the company, have now agreed to participate in the Trade Credit Program, which provides letters of credit of up to $100 million. The company has agreed to limit participation in the Vendor Program to $100 million. To date, over 40 vendors have signed up for the Vendor Program.
“We are very appreciative of the widespread support shown by our vendors as we progress with our restructuring and head into the busy fall shopping season,” said Michael Gries, chief restructuring officer and interim ceo. “The Trade Vendor Payment Program is critical to maintaining positive relationships with the trade community, as we provide our customers with the wide assortment and depth of quality merchandise they expect from Linens ‘N Things.”
Jones promotes Friedman to ceo, company-owned footwear and apparel
NEW YORK Jones Apparel Group announced that Jay Friedman has been promoted to ceo of company-owned retail footwear and apparel. Friedman, who previously served as president of company-owned retail footwear and apparel, will continue to report to Andrew Cohen, ceo of footwear, accessories and retail.
Cohen said, “Under Jay’s leadership, the team has implemented a number of initiatives to improve the performance of the retail chain, including enhancing merchandise assortments throughout our stores and remodeling and refreshing our store environments to enhance the consumer’s overall shopping experience. I congratulate him on this well-deserved promotion.”