Tamara Mellon files for bankruptcy
Accessories brand on the brink
Tamara Mellon has announced she's filing for bankruptcy following a restructure of her eponymous luxury accessories brand. The British designer, who is the former Chief Creative Officer and Co-Founder of Jimmy Choo, went out on her own under her own name in 2011, and now four years later has announced she's filing for voluntary Chapter 11 bankruptcy protection in Delaware.
In light of the news Tamara Mellon the brand, which produces fashion-forward bags, acessories and shoes has undergone a reorganisation, releasing all employees and will follow through with a Chapter 11 exit. Looking forward, Tamara is set to open a new business that will own certain marks, domain names and intellectual property rights that were previously owned by Tamara Mellon and Tamara Mellon LLC.
"We will use this brief period of reorganisation so we can position ourselves to take advantage of our new growth strategy and ensure the long term vibrancy of our brand," Mellon stated. "We expect that we will emerge from this stronger than ever in 60 days or less, and all of us at Tamara Mellon look forward to pursuing our passion long into the future."
In the mean time the designer who now lives in New York has headed to Miami to showcase her newest resort collection at Tamara Mellon's latest pop-up store at Miami's Art Basel at The W Hotel South Beach.