Could this be the beginning of the end of premium denim as we know it?
Rock & Republic has filed a Chapter 11 bankruptcy court protection last Thursday evening. Though the company will continue to operate business, it will see to reorganize the firm.
Atlas Strategic Advisors is on the case to help re-capitalize the balance sheet and explore "long-term financial partnerships". Could this mean a buyout the likes of Tommy Hilfiger? Only time will tell… The brand is also looking to center on product development and changing the creative direction.
"The pillars of our restructuring strategy include strengthening the Company's financial capacity, realigning its product focus and enhancing its operational execution," said Geoffrey D. Lurie, chief restructuring officer. "At the same time, we will be sharpening our product focus to emphasize the core apparel and footwear businesses that have been the foundation of Rock & Republic's brand reputation, while seeking alternatives for ancillary product lines."
Source; Photo: WWD.com
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