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Article: HALSTON TAKEOVER HITS SNAG; TROPIC TEX SAID TO BE STALLING.
- Article from:
- WWD
- Article date:
- April 27, 1998
- Author:
CopyrightCOPYRIGHT 1998 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Negotiations between the owners of Halston and the Greenwich, Conn.-based investment firm trying to take control of the brand are still dragging on.
The investment firm, The Catterton Group, has invested at least $15 million in the brand since late last year and was expected to take control of Halston over the weekend. Sources said that Jack and Marc Setton, the principals of Tropic Tex International, which owns the name and also markets mass and moderate fashions, are reportedly stalling the deal to maintain control. However, Marc Setton contended, "We're looking to conclude a deal as soon as possible." He said negotiations on the deal were continuing ...