Peter Nygard is a Finnish-Canadian fashion executive. He is the son of Eeli and Hikka Nygård.
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His parents, Eeli and Hikka, were bakers who moved to Canada when Peter was a child in 1952. They subsequently relocated to Winnipeg.
Peter Nygard attended the University of North Dakota, where he earned a business degree in 1964.
One of his first jobs out of college was as a sales manager for Jacobs Fashions’ new line of women’s jeans. Peter used his life savings, about $8,000, plus a loan to buy a 20% ownership in the company from its founder, Nathan Jacob, in 1967.
In 1967, he also established his own clothing manufacturing company, simply known as “Nygard.” They started out making sportswear. In 1978, the corporation moved into the United States.
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Credit: Arnold Turner / Invision/AP file
The headquarters of Nygard International were raided in February 2020 as part of the Federal Bureau of Investigation’s (FBI) sex trafficking investigation against Nygard
On March 18, 2020, the business filed for Chapter 15 bankruptcy in New York, and the following day, a Manitoba judge placed a group of Nygard entities under receivership.
On April 30, a Canadian judge granted permission for an accounting firm to sell a portion of its business.
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