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Belgian IKKS unit files for bankruptcy, closing stores and cutting jobs, while Saks secures $1B loan to stabilize.
The Belgian subsidiary of French fashion brand IKKS has declared bankruptcy, closing about ten stores and eliminating dozens of jobs, though franchisees may remain open.
Saks Global secured a $1 billion emergency loan as part of a $1.75 billion financing package to stabilize operations.
In Germany, Pepco exited insolvency after cutting nearly half its stores and workforce, while Shein removed climate-neutral claims under regulatory pressure.
H&M posted stronger-than-expected profits despite falling sales, and Zalando is expanding generative AI use in fashion retail.
Belgium’s Les Jumelles grew from a garage startup into a recognized brand with physical stores and international B2B expansion.
La unidad belga de IKKS se declara en bancarrota, cerrando tiendas y recortando empleos, mientras que Saks obtiene un préstamo de $ 1 mil millones para estabilizarse.