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Victoria’s Secret Sale in Jeopardy (WWD)
L Brands’ deal to sell a 55% stake in Victoria’s Secret to private equity Sycamore Partners could be in jeopardy. In it’s annual report, filed with the Securities and Exchange commission on Monday, the company said there was a risk the deal might not close. “Assuming the VS Transaction is completed, there can be no assurance that we will be able to realize the anticipated value and benefits therefrom, and the VS transaction may adversely affect our business,” the company wrote. “The proposed transaction will result in a smaller, less diversified and more narrowly focused business than before the VS Transaction, which makes us more vulnerable to changing market and economic conditions.”
In an attempt to save money, as of April 5, L Brands is furloughing all in-store associates and anyone not needed for the support of the online beusiness until furter notice. “As circumstances change, we will make every effort to bring these associates back to work as soon as possible,” the company wrote in a statement Friday. “Furloughed associates will also be able to apply for unemployment benefits, if eligible.”
Macy’s to Furlough Majority of Its 125,000 Employees (CNN)
Macy’s, which also owns Blue Mercury and Bloomingdales, announced yesterday that they are furloughing nearly all of their 125,000 employees, although impacted workers will still receive company-funded health insurance through at least May. Earlier this month, Macy’s closed all of its 775 brick-and-mortar stores. The company will furlough fewer workers at their digital operation, distribution, and call centers. “We expect to bring colleagues back on a staggered basis as business resumes,” the company said in a statement.
Megan and Harry Shutter Sussex Royal (Harper’s Bazaar)
The couple announced yesterday that they will no longer be using the Sussex Royal Instagram account or website, although both will remain up for the foreseeable future. “The Duke and Duchess of Sussex will spend the next few months focusing on their family and continuing to do what they can, safely and privately, to support and work with their pre-existing charitable commitments while developing their future non-profit organization.” Today also marks the official termination of their duties as senior royals.
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As we can all feel, the world at this moment seems extraordinarily fragile. Yet we are confident that every human being has the potential and opportunity to make a difference—as seen now across the globe, in our families, our communities and those on the front line—together we can lift each other up to realise the fullness of that promise. What’s most important right now is the health and wellbeing of everyone across the globe and finding solutions for the many issues that have presented themselves as a result of this pandemic. As we all find the part we are to play in this global shift and changing of habits, we are focusing this new chapter to understand how we can best contribute. While you may not see us here, the work continues. Thank you to this community – for the support, the inspiration and the shared commitment to the good in the world. We look forward to reconnecting with you soon. You’ve been great! Until then, please take good care of yourselves, and of one another. Harry and Meghan
COVID-19 Claims the Life of Longtime NYFW Security Staple, Tom Carney
Yesterday, Citadel Security announced the passing of Tom Carney on their Facebook page. The message read: “It is with a heavy heart that we inform you of the passing of our beloved friend Tom Carney. Tom was a deeply loved member of the Citadel family and we are heartbroken by this news. Tommy was always quick with a joke and a smile and kept us sane through many trying times. His sense of humor was unmatched. We will miss Tommy tremendously and we hope to honor his life and memory.” Carney passed away on March 27th after battling coronavirus for nearly two weeks. He was a Marine Corp vet and was a part of the NYFW security team for 26 years at Bryant Park, Pier 59, Lincoln Center, and Spring Studios. He is survived by his wife, Eileen Carney, son, Thomas Carney Jr., daughter, Christine Carney Conway, multiple grandchildren, and siblings. He will be missed.
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I still can’t believe that Covid 19 claimed the life of Tom Carney, of #CitadelSecurity. Tommy has been at every FashionWeek over 25 years -since the beginning working with @tycsanyc Ty Yorio and his brother Mike Carney. You always got a warm embrace, a joke and a lot of laughs with Tommy. He was loved by all and will be so greatly missed. In this photo I have my hands on Tom’s shoulders as Citadel bought a table at the CBN Silver Star Awards when I was honored in December. RIP Tommy🙏🏼 #fuckcovid19 Please #staysafeandhealthy #stayhome. This isn’t a joke. It’s hitting way too close….
Let Dolly Parton Read You a Bedtime Story (Huffington Post)
On Monday, Dolly Parton unveiled plans for “Goodnight with Dolly,” a weekly video series featuring her reading different children’s stories on behalf of her Imagination Library, a literacy advocacy group. The first installment will air Thursday on the Imagination Library’s YouTube page. “This is something I have been wanting to do for quite a while, but the timing never felt quite right,” Parton said in the blog post. “I think it is pretty clear that now is the time to share a story and to share some love.”