Liz Claiborne working with turnaround firm

Clothing maker and retailer Liz Claiborne Inc. is working to improve its performance with help from turnaround firm Alvarez & Marsal.

The company said Thursday that it has hired the turnaround firm on a short-term basis to review its operations with the goal of improving its cash flow in the U.S. and Europe.

Liz Claiborne revamped its business several years ago, cutting brands to focus on its more powerful labels, like Juicy Couture and Lucky Brands Jeans. More recently, it relaunched its namesake brand under the design direction of Isaac Mizrahi, whose first collection for Liz Claiborne hit stores this past spring.

The company also has cut …