E-bike manufacturer, VanMoof, has raised a $40 million investment from Norwest Venture Partners, Felix Capital and Balderton Capital. The funding brings VanMoof’s total capital raised to $73 million and furthers the e-bike brand’s mission of getting the next billion on bikes.
Author: SGB Media
August Retail Sales Grow As Pandemic Recovery Continues
Retail sales continued to recover from COVID-19 in August, showing a gradual improvement from July and larger gains year-over-year, the National Retail Federation said.
Dick’s SG Settles $2.9 Million Wage Deal
Dick’s Sporting Goods agreed to pay $2.9 million in a settlement between the retailer and California retail workers over apparel costs and mandatory off-the-clock security checks according to a report from HR Dive.
GNC To Be Sold To China’s Largest Drug Maker
GNC Holdings Inc., which filed for bankruptcy in June, is moving forward with plans to sell itself to its largest shareholder and original bidder, Harbin Pharmaceutical Group Holding Co., for approximately $760 million.
Online Fitness Platform Zwift Raises $450M
Zwift, the online fitness platform for cyclists and runners, announced a $450 million minority investment led by leading global investment firm KKR, accompanied by other new investors Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures and the Amazon Alexa Fund and existing investors including True, Highland Europe, Novator and Causeway Media.
Foot Solutions Acquires Noene America
Foot Solutions, Inc. announced the acquisition of Noene (pronounced “Know-EEN) America.
Rawlings Inks Exclusive Licensing Agreement With UCLA
Rawlings entered into a multi-year exclusive agreement with the University of California, Los Angeles (UCLA) involving its vast line of tailgating products effective April 1, 2021.
Fleet Feet Launches Fit Id. Personalized Footwear Experience
Fleet Feet announced the launch of integrated dynamic pressure mapping as part of the brand’s in-store outfitting experience, fit id.
Town Sports International’s Debt Ratings Downgraded Due To Bankruptcy Filing
Town Sports International Holdings Inc., the parent of New York Sports Club and Boston Sports Clubs, saw its ratings lowered by S&P due to its move to file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
Blaser Group Appoints North American Director Of Sales
Blaser Group announced Derek Paul has joined the company as North American director of sales. In this role, Paul will be responsible for all commercial sales activities for Blaser, Mauser, Sauer, and Rigby rifles and Minox optics throughout North America.
Springfield Armory Announces VP Of Sales
Springfield Armory CEO Dennis Reese announced the hiring of Russell H. Datson IV as vice president of sales.
Olin Announces Partial Redemption Of Senior Notes
Olin Corporation, the parent of Winchester, announced today that it has notified bondholders that it intends to redeem $600 million of outstanding 9.75 percent senior notes due October 15, 2023.
Apex Global Brand’s Q2 Sales Slip 21 Percent
Apex Global Brands reported sales declined 21.4 percent in the second quarter ending August 1. The net loss came to $1.3 million, or $2.38 a share, in-line with the year-ago period. The owner of Hi-Tec, Magnum, Tony Hawk and other lifestyle brands also said it entered into an amended forbearance agreement with senior secured lender on September 1.
Flywheel Files For Bankruptcy, To Close Locations
Flywheel Sports, the cycling studio, has reportedly filed for Chapter 7 liquidation with a plan to close its remaining 28 locations.
Kohl’s Lays Off 15 Percent Of Corporate Staff
Kohl’s Corp. in a regulatory filing said that as of September 15 it took various actions to further align its cost base in response to the business impact resulting from COVID-19.
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