
26th April 2010, 01:55 PM
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Senior Member
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Join Date: Aug 2007
Posts: 1,220
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Rock & Republic files Chapter 11 bankruptcy
http://www.reuters.com/article/idUSN0115709620100402
How the hell do you go bankrupt by selling $5 jeans for $250?!?!?
Quote:
NEW YORK, April 1 (Reuters) - Premium denim company Rock & Republic on Thursday said it filed for Chapter 11 bankruptcy protection.
The company, which sells its jeans and accessories in stores including Bergdorf Goodman and Bloomingdales, said it obtained $7.5 million in debtor-in-possession financing from CIT Group (CIT.N).
Rock & Republic has hired investment bank Atlas Strategic Advisors to help it recapitalize, subject to court approval, the company said.
Geoffrey Lurie, who previously headed The North Face's turnaround, will join Rock & Republic as chief restructuring officer, the company said.
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Last edited by phreezee : 26th April 2010 at 02:59 PM.
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