DISTRESSED DAILY: Nine West Successor ‘Vulnerable,’ S&P Says

Premier Brands Group, the entity that emerged from the bankruptcy of Nine West Holdings, was hit with a combination punch by the pandemic.

The clothing seller is “vulnerable” in part because work-from-home trends have weighed on its women’s workwear-focused Kasper brand, S&P Global Ratings said in a Tuesday note. And that segment has also fallen victim to supply-chain issues and manufacturing shutdowns in South East Asia, S&P said.

Lenders have waived certain debt covenants until the end of the first quarter of 2022, providing Premier with breathing room. The company should “narrowly” meet that covenant when it’s reinstated, ...