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Vince Holding Corp. Changes Hands, Former CEO Brendan Hoffman to Return to the Helm

Retail TouchPoints

Hoffman previously served as CEO of Vince from 2015 to 2020 before leaving to lead Wolverine Worldwide, first as President and then CEO through August 2023. million and a 25% interest in a newly formed Authentic subsidiary, ABG Vince, in a bid to strengthen its finances. (VNCE) , giving it a 65% stake in the retailer.

Returns 281
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Tuesday Morning Receives $12.5M in New Debtor-in-Possession Financing

Retail TouchPoints

million in debtor-in-possession (DIP) financing from 1903 Partners LLC together with its affiliates, Gordon Brothers. Bankruptcy Court for the Northern District of Texas, Fort Worth division, is the retailer’s second in approximately three years , following the company’s seeking Chapter 11 protection in May 2020.

Finance 246
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The Rise of Micro Markets in Airports

Retail TouchPoints

The travel and tourism industry went through a shock in 2020, with the COVID-19 pandemic leading to a decrease in passenger traffic and significant economic challenges for airports. Micro markets are one of the key self-service options that are becoming increasingly popular in airports.

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Nordstrom Financial Chief Bramman Steps Down; Insider Appointed Interim CFO

Retail TouchPoints

Over the course of her 33-year career, Bramman has worked in different areas of finance with companies including Henri Bendel and Victoria’s Secret when the brands were part of L Brands. Maher has more than 25 years of finance and accounting experience and joined Nordstrom in 2009 as controller.

Finance 278
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PacSun Names Co-CEOs and New President

Retail TouchPoints

Relich has been in the Interim CEO position since August 2020, having previously served as PSEB’s COO. Like Chang, Olson joined PacSun in 2006 and held multiple senior positions before being named Chief Brand Officer in July 2020. As Co-CEOs, Chang and Relich will have distinct oversight of key business functions.

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Hit Hard by the Pandemic, Most Minority Business Owners Optimistic About the Future

Retail TouchPoints

In May 2020, McKinsey issued a report stating while the COVID-19 pandemic was shaking up small businesses across the board, it was disproportionately affecting minority-owned small businesses. Between March 2019 and June 2020, adoption of touchless payments , which includes contactless cards, mobile wallets and QR codes, increased 150%.

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Tuesday Morning Appoints New CEO and COO

Retail TouchPoints

The investment was coupled with an additional $3 million in convertible debt financing from Tuesday Morning executives, including Hand, to support the company’s omnichannel turnaround and avoid bankruptcy for a second time since 2020. His previous experience includes roles as CEO of fast-casual restaurant chain Cosi, Inc.

Finance 290