CIT: West Coast team featured in Fashion Manuscript.
FSG LAWYERS: Represented Loomworks Apparel (P.J. Salvage) on its acquisiton by Delta Galil.
Details on Industry Insight.
Layoffs hit DC Shoes today, a Quiksilver spokesman confirmed this afternoon.
Parent company Quiksilver has experienced layoffs at its Quiksilver and Roxy brands in the past as it moved to cut costs due to the recession and its debt load. The spokesman said about 10 percent of the workforce was cut previously at Quiksilver and Roxy, and the DC reductions are of similar size on a percentage basis.
Quiksilver reports earnings next Thursday and more details are expected to be released at that time.
DC has been Quiksilver's best-performing brand and its major growth vehicle. A new financing deal with the private equity firm Rhone allowed Quiksilver to keep the brand rather than sell it to pay off debt.
We'll report more details of this story when they become available.