ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Rudderless leadership finally crashes Japanese clothier Renown

'Buddy-buddy' management style left group vulnerable to COVID-19

Renown sold the Aquascutum brand in 2019 due to its consistently poor earnings.

TOKYO -- Japanese apparel maker Renown's bankruptcy filing to the Tokyo District Court last week was actually prepared by a subsidiary because of disarray among the parent's management, according to people familiar with the matter.

Renown Agency, a unit operating as an insurance marketing agency, filed the application for court protection from creditors on Friday. The court approved the application the same day, a release from Tokyo Databank said.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more