Jimmy Choo cofounder Tamara Mellon files bankruptcy
Posted on Wednesday, December 16th, 2015 at 5:17 pm
Women’s luxury accessories and shoes designer Tamara Mellon recently filed for Chapter 11 bankruptcy protection in a Delaware court as her company works to reorganize and employ new strategies, the New York Business Journal reported on December 3.
According to bankruptcy documents filed on December 2, Tamara Mellon LLC has between $1 million to $10 million in assets. Tamara’s New York City-based company has up to 199 creditors, including a Hong Kong-based company to which she owes $197,528. The planned reorganization will reportedly not affect the company’s employees until after the bankruptcy is concluded. In a statement, Mellon expressed optimism as she is expecting her company to become “stronger than ever in 60 days or less,” and the founder is looking forward to her company’s future.
Business owners who struggle to handle financial burdens may consider filing for bankruptcy as a way to protect themselves and their companies. If you are considering Chapter 7, Chapter 11, or Chapter 12 bankruptcy in Raleigh, contact the Bradford Law Offices, PLLC by calling (919) 758-8879 to learn how our legal team can help you.