Women's clothing company Urban Brands Inc., Ashley Stewart distribution chain applied for bankruptcy protection in the US Chapter 11 proceedings before the Court of the parent company direct losses early Tuesday after three years.
Ashley Stewart, which provides for the size of the cities plus women, is approximately 210 stores in cities, including New York and Los Angeles. Harlem 125Th Street, New York is located in the flagship store.
Ashley Stewart brand strength, even if the clothing company began suffering than financial situation deteriorated in 2008, according to court papers.
The company intends to continue to operate and has concluded an agreement with stalking called new Ashley Stewart LLC, which has offered to buy assets horse offer.
Stalking horse offer an invitation to tender for the refund of land from which all other offers floor are equal to or greater than the sets.
In the meantime, the Urban Brands has continued to ask the other offers, the court documents.
Urban Brands 2009 posted in the euro area-million dollars loss and sales fell by $ 174.6 million EUR 179.6 million in the year.
Clothing company, which markets the urban African American and Hispanic women, owe about $ 81.3 million Note purchase contract with the Trimaran Fund II LLC 2004 and the five other debt after then after typing in the agreements.
Plus-size African American women ranked Ashley Stewart chain shop, their favorite place to him, no 3 2009 industrial research research company NPD Group clothing.
The bankruptcy filing, the Urban Brands estimated range $ 10 50-million dollars in assets and liabilities in 100-500 million dollars.
The company's representative is not immediately available to provide additional information in the event of the bankruptcy of the application.
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