Latest news with #Kapital
Hypebeast
4 days ago
- Business
- Hypebeast
H.Lorenzo Taps Kapital for 40th-Anniversary Baseball Tee
celebrating 40 years of business with a new collaboration with long-time collaboratorKapital. The Los Angeles-based retailer has teamed up with the Japanese apparel label to create a baseball shirt that reimagines Americana. The athletic top features embroidered Kapital Kountry and branding, contrast piping, and a large number '40' stitched across the back. With a relaxed fit, the design is intended to be worn oversized. 'From the early days of stocking Kapital in our stores to co-hosting landmark moments like the 'Kapital Sings Bob Marley Talkin' Blues' launch in 2019, our bond has always been personal — one of loyalty, creativity, and kinship,' said. Kapital baseball tee is now available to shoponlineand at Los Angeles store, located at 8700 Sunset Blvd. The design is priced at $594 USD. Take a look at the piece in the gallery above.
The Courier
01-05-2025
- Business
- The Courier
Taxpayer-funded Lundin Links Hotel loan still not repaid in full
An £850,000 taxpayer-funded loan to the owners of a derelict Fife hotel has still not been repaid in full. Kapital Residential bought the Lundin Links Hotel in 2014 and secured planning permission to convert it into 35 flats. Despite work not starting, the company received Scottish Government cash under the Emergency Covid Liquidity Fund in 2020. The £18 million fund was set up to protect jobs and suppliers in the housebuilding industry during lockdown. However, Kapital went bust in July 2022, three weeks before the deadline for repayment. And the prominent mock-Tudor building was destroyed by fire the following month. It has now emerged liquidators who sold the land have repaid £381,699.70 of the outstanding loan. The Scottish Government confirmed it is still owed £347,230.30. However, they said the liquidation process is ongoing. The covid loan was originally secured against two properties owned by Kapital. One of the properties was sold in 2021, meaning the entire amount was then secured against the derelict Lundin Links Hotel. The Scottish Government has declined to release the building's valuation on the grounds it would prejudice commercial interests. And it says it is unable to say how much the loan has cost the taxpayer in total, including administration costs. North East Fife MP Wendy Chamberlain is now calling for an explanation. She said: 'After submitting an FOI, is it clear this loan has not been repaid, with almost £350,000 remaining outstanding. 'The Scottish Government should now explain why they later allowed the loan to be guaranteed against the Lundin Links Hotel only, and disclose how much this situation has cost taxpayers, particularly given the fact the site is still in disarray.' Ms Chamberlain now intends to ask Fife Council what its costs were in relation to boarding up and then demolishing the former hotel. The Courier contacted the Scottish Government for comment. And a spokesperson said: 'The SME Housebuilder Liquidity Loan fund supported small and medium-sized housebuilders with liquidity issues due to the temporary impact of Covid-19 on the housebuilding sector. 'It aimed to safeguard jobs and protect suppliers, support post-covid economic recovery and the continued supply of homes and retain the diversity of the housebuilding sector.'
