Levi’s stretched by debt

News

At the start of December, Fitch Ratings lowered its rating on Levi Strauss to CCC+ from B-, following the jeans manufacturer’s announcement that it had retained the management of consulting firm Alvarez & Marsal to help turn around the beleaguered firm.

Levi’s also replaced its chief financial officer Bill Chiasson with Alvarez’s Jim Fogarty, who will act as interim CFO and advise Levi’s on strategies to reduce debt and costs. Levi’s problems have stemmed from a high debt load, poor performan

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