In the latest chapter of its restructuring bid, US jewelry retailer and brand Alex and Ani has acquired a new CEO.
Former Pandora North American president Scott Burger will take over the company, which filed for bankruptcy last summer.
Bloomberg announced on June 10, 2021 that the company had filed for bankruptcy.
A press release from Alex and Ani on the same day announces the “continuation of its efforts to [stabilise] his job “.
It added that it had “commenced Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware” and planned to continue its online and physical operations as usual during the proceedings.
Now, more than six months after the restructuring, Alex and Ani have added Scott Burger as their new CEO.
Burger brings his experience from Pandora, where he worked for over 10 years, and more recently from Classic Brands.
JCK reported that Burger has been on Alex and Ani’s board since 2020.
In mid-2021, at the time of the bankruptcy filing, the director of restructuring of Alex and Ani, Robert Trabucco, commented: “We have worked diligently to overcome challenges with our capital structure and are very pleased with our progress from an operational efficiency perspective.
“In 2020, COVID-19 forced the company to suspend key strategic growth initiatives, temporarily close stores and scale back operations in light of declining in-store customer demand.
“Meanwhile, Alex and Ani continued to invest in his e-commerce platform.”