Retail Refugees

One of the most venerable department stores in the US has apparently been making waves in the American retail market with rumblings of financial problems. Though all payments have been made on time, and a source at Versace claims that there have been no problems, others fear that as result of the departure of former CEO Howard Socol, the new bosses are making the buying season more difficult. Additionally, though new owner Istithmar has been fishing for buyers for the chain, there have been no bites as of yet. This comes after a significant expansion into the Boston, Dallas, and San Francisco markets.