The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group, Inc. Confirms Receipt of Requisite
Kasper A.S.L., Ltd. Stakeholders' Support of Plan of Reorganization
NEW YORK, Nov. 13 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today confirmed that it has received the required agreement of
certain Kasper A.S.L., Ltd. stakeholders to support Kasper's Plan of
Reorganization, which includes Jones' amended purchase agreement for Kasper.
The closing, subject to confirmation of Kasper's Plan of Reorganization on
November 19, 2003, is expected to occur in early December 2003.
Jones Apparel Group, Inc. (www.jny.com), a Fortune 500 Company, is a
leading designer and marketer of branded apparel, footwear and accessories.
The Company's nationally recognized brands include Jones New York, Polo Jeans
Company licensed from Polo Ralph Lauren Corporation, Evan-Picone, Rena Rowan,
Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy
Spirit, Enzo Angiolini, Bandolino, Napier and Judith Jack. The Company also
markets costume jewelry under the Tommy Hilfiger brand licensed from Tommy
Hilfiger Corporation and the Givenchy brand licensed from Givenchy
Corporation, and footwear and accessories under the ESPRIT brand licensed from
Esprit Europe, B.V. Celebrating more than 30 years of service, the Company
has built a reputation for excellence in product quality and value, and in
Certain statements herein are "forward-looking statements" made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements represent the Company's expectations
or beliefs concerning future events that involve risks and uncertainties,
including the strength of the economy and the overall level of consumer
spending, the performance of the Company's products within the prevailing
retail environment, and other factors which are set forth in the Company's
2002 Form 10-K and in all filings with the SEC made by the Company subsequent
to the filing of the Form 10-K. The Company does not undertake to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
SOURCE Jones Apparel Group, Inc.