This news came faster than what was thought possible. Just a month ago, it was announced that Maria Pinto was closing her store and filing for bankruptcy and now it is even more than a bad dream.
Though her West Loop Chicago boutique is closing at the end of this week, she plans on offering a five day, 50 to 70 percent off sale on eveningwear, daywear and signature wraps starting tomorrow, March 16.
The reasoning as to why the business was not successful even though sales rose 40 percent from 2008 to 2009 is that her wholesale segment caused the company to crumble.
Pinto said that she still hasn't filed for bankruptcy as earlier reported. “I have nothing to disclose there, but I’m still closing the business,” she noted.
“I know I hit a mark,” Pinto told WWD, referring to the design, fit and quality of her clothes. “I’m proud of how far I took it.”
Sources: ChicagoTribune.com; WWD.com
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