The Daily
Bill Blass in Trouble?
Meghan Hart
An article in the New York Times this morning may give pause to many in the fashion industry that secretly root for the success of the Bill Blass brand. NexCen Brands the parent company that owns Bill Blass and a wide range of other companies is in financial trouble after having to restate the amount of debt it has outstanding. The company let go of its Chief Financial Officer 2 months ago and said that the statements made regarding it’s financial health in 2007 were not accurate. In addition to Bill Blass Nex Cen owns Marble Slab Creamery, Pretzel Time, Pretzelmaker, Great American Cookies, Shoebox New York and Waverly home furnishings. The company has to pay a $21million loan that would leave it with little if any cash to operate as a going concern. Saks Fifth Avenue president Ronald L. Frasch tells the paper that reviving a brand like Bill Blass takes a significant financial committment,
“re-establishing a brand such as Bill Blass at that level takes deep pockets. It’s a lot of expense going out before it comes back in.”
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