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Article: Today's Man, Delia's up against the wall; Companies may be first in a series of distressed retailers.(News)
- Article from:
- Crain's New York Business
- Article date:
- January 13, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, 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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Byline: catherine curan
Today's Man Inc. and Delia's Corp. are both searching for new capital and facing difficulty getting fresh merchandise-and they may be the first of a series of local retailers forced to sell, take on partners or restructure this year.
Observers expect a wave of retailers trying to bail themselves out after a dismal 2002. Today's Man and Delia's are both aggressively seeking new investment partners.
Teen retailer Delia's hired investment bank Peter J. Solomon Co. last fall to help it find a buyer or raise capital, and Chief Executive Stephen Kahn says he hopes to make an announcement by the end of this month.
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