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financial

In Brief: Gen Art Deadline... Hoop in Chapter 11... Kellwood Debentures...

The deadline for submissions for this year's Gen Art Styles runway show is April 4.

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- GEN ART DEADLINE: The deadline for submissions for this year's Gen Art Styles runway show is April 4. The show, which will celebrate the 10th anniversary of Gen Art Styles, will take place on May 19 at Manhattan's Hammerstein Ballroom. This year's event, sponsored by Botox, will provide five Botox Design Vision Awards for accessories, men's wear, women's ready-to-wear, eveningwear and avant-garde design. Also, for the first time, Gen Art will provide Styles' winners with production awards from Los Angeles-based sample production company The Evans Group. The winning designers in the rtw and men's wear categories will receive development services and sample production for the spring 2009 season.

-HOOP IN CHAPTER 11: Hoop Holdings, a subsidiary of The Children's Place Retail Stores Inc., said on Thursday it has filed a voluntary Chapter 11 bankruptcy court petition in a Delaware court. Also filing were subsidiaries of Hoop. The company said that it will pursue the transfer of a substantial portion the Disney Store North America business to an affiliate of The Walt Disney Co. under the Chapter 11 umbrella. That transaction is expected to be completed by April 30. The Children's Place is not involved in any way with the bankruptcy filing.

-KELLWOOD DEBENTURES: Kellwood Co. said Monday it has begun soliciting consents from each holder of the company's 3.5 percent convertible senior debentures maturing 2034. The solicitation is to obtain a waiver of the holder's right to require the apparel firm to repurchase the debentures on April 10, 2008, based on the firm's previously announced notice of fundamental change. Sun Capital Securities Group acquired Kellwood in February. Kellwood said nonconsenting debenture holders retain the right to require Kellwood to purchase their debentures per the fundamental change offer.
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