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Debt

Schools
Iona College Issues Lifeline To Students Following CNR Closing Announcement Iona College Issues Lifeline To Students Following CNR Closing Announcement
Iona College Issues Lifeline To Students Following CNR Closing Announcement Iona College is offering a lifeline to some students at the College of New Rochelle following last week’s announcement that the institution is likely to close at the end of the summer semester as they contend with a financial crisis. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. On…

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by Zak Failla
Business
Retailer Nine West Files For Bankruptcy Retailer Nine West Files For Bankruptcy
Retailer Nine West Files For Bankruptcy Women's clothing and footwear company Nine West announced on Friday that it has filed for bankruptcy, listing debts of more than $1 billion. The company, which owns brands such as Gloria Vanderbilt and Anne Klein, also announced it will sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. "This is the right step to address our two divergent business profiles," Ralph Schipani, Nine West Holdings' chief executive officer, said in a statement. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses and co…

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by Joe Lombardi