Ellen Tracy Forced into Bankruptcy?
by Bee-Shyuan Chang (Subscribe to Bee-Shyuan Chang's posts), Posted Aug 17th 2009 at 9:00PMThis is a post
Filed under: News
On the runway at Ellen Tracy's Fall 2007 fashion show, the brand's last. Photo: Getty for IMG
Four Asian clothing manufacturers have filed a petition in Manhattan bankruptcy court against Ellen Tracy to force the company into liquidation, reports WWD.
In the Chapter 7 filing against the clothing company, the petitioners each claim they are owed amounts from just over $400,000 to a whopping $1.5 million, reports the site.
It's a rocky start for RVC Enterprises who just acquired Ellen Tracy's operational division last month and has taken over the license for the women's sportswear, better and bridge lines.
According to WWD, RVC is reportedly in talks to launch a higher-end line exclusively with one retailer, possibly Lord & Taylor, Macy's or Dillard's, and drop its bridge line.
Fashionology Group owns the rest of the brand's license and Brand Matters owns the intellectual property rights, reports the source.
Is this a case of three's a crowd?! Only time will tell.
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