Business News: Fossil Is Restructuring As Debt And Tariffs Take Toll

Fossil seeks lifeline with UK restructuring as smartwatch exit, falling sales, and tariffs drive steep losses

Fossil’s long struggle to stay relevant in a changing watch market has reached a breaking point. The company has now filed for financial restructuring in both the U.K. and the U.S., with filings revealing the scale of its recent decline and the terms of its rescue plan. The move comes under Chapter 15 in the U.S. Bankruptcy Court for the Southern District of Texas, a process that recognises the U.K. as the primary venue for restructuring. Fossil…

Business News: Fossil Is Restructuring As Debt And Tariffs Take Toll

Fossil Group, once one of the biggest watchmakers in the world, is financially restructuring in a legal process in the U.K. as well as U.S. bankruptcy court, as the retailer and owner of the historic Swiss marque Zodiac and the maker of mass market timepieces for a slew of well-known fashion brands, including Michael Kors, seeks breathing room from creditors. The filing comes after Fossil's sales declined and its financial losses increased as it…