Rock & Republic files for bankruptcy

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  1. #1
    ThisFlyguy's Avatar
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    Default Rock & Republic files for bankruptcy

    Rock & Republic files for Ch. 11 reorganization - BusinessWeek

    "Rock & Republic, the once-hot denim fashion brand known for its $200 jeans, filed for Chapter 11 bankruptcy protection Friday.

    The company, whose products are sold at upscale stores such as Bergdorf Goodman, Bloomingdale's and Nordstrom, said it will continue to operate its business under court protection from creditors, while seeking to develop a reorganization plan.

    It filed the bankruptcy petition in the U.S. Bankruptcy Court in the Southern District of New York.

    Rock & Republic burst on the scene in 2002 to capitalize on consumers' burgeoning appetite for pricey jeans, but started to see sales cool off last year along with other makers of expensive denim as recession-weary shoppers got sticker shock.

    In response, Rock & Republic began shipping a new Recession Collection a year ago that ran about half the usual $200 price tag for its jeans.

    Rock & Republic said it named Geoffrey D. Lurie, who had led the turnaround at outdoor clothier The North Face to be its chief restructuring officer. That move would free up company founder and CEO Michael Ball to focus on product development.

    Rock & Republic, based in Los Angeles, said that it had received a commitment of up to $7.5 million in financing from CIT Group/Commercial Services Inc.

    The financing is subject to bankruptcy court approval and other conditions. The company has hired investment banking firm Atlas Strategic Advisors LLC to explore long-term financial partnerships."


    and here:
    Rock & Republic Files for Bankruptcy Protection - StyleList

    Rock & Republic files for bankruptcy protection - latimes.com
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  2. #2
    MTK
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    im NOT and i told you so kind of guy
    BUT

    i def saw this coming . . .

  3. #3
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    From what I know of the CEO, he had it coming as he wasn't exactly the best at building lasting relationships.

    It was discussed in one of the threads somewhere at the beginning of the month too as the articles are a few weeks old.

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    crgray's Avatar
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    maybe this is why true religion stock dropped a little bit
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    Hmmm... bummer for their creditors. You guys think they will survive in this economy or is a Chapter 7 next?

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    good thing is there jeans will be at a blowout prices

  8. #7
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    This will soon be followed be a few other denim brands...
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    I never bought a pair
    you might see me with expensive watches or shoes.. but never jeans..lol

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    ^^^To be honest I never saw the point to get anything beyond say Banana after I got out of the baggy Guess and such phase, but then I picked up a pair of 7s and realized that they really do just fit so much better, and the quality and detail were much better than what I was wearing. Same holds true for the other high end demin brands (true religion, R&R, diesel, etc.). Have purchased a bunch more since, although I will say I am not a fan of the pricetag (usually get them at Saks off 5th or NM last call to save a bit).

    I am hoping to get some Keinejads...if my email is ever answered
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    Quote Originally Posted by alex911s View Post
    I never bought a pair
    you might see me with expensive watches or shoes.. but never jeans..lol
    i agree with this man 100%

    $200+ dollar jeans....gimme a fvckin break, hahahahaha

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