US online men’s custom clothing brand J. Hilburn recently filed for Chapter 11 bankruptcy. Founded in 2007, the company is trying to reorganise under the protection of the US Bankruptcy Court in Dallas. The company, which laid off an undisclosed number of employees at its Dallas headquarters last month, anticipates no interruptions in business.
J. Hilburn said in the initial filing that it has assets of under $10 million, but owes more than that to vendors.US online men's custom clothing brand J. Hilburn recently filed for Chapter 11 bankruptcy. Founded in 2007, the company is trying to reorganise under the protection of the US Bankruptcy Court in Dallas. The company, which laid off an undisclosed number of employees at its Dallas headquarters last month, anticipates no interruptions in business.#
Its debts include $6.55 million to Hong Kong-based TAL Group, $806,052 to Portugal-based Criaimie Rua do Facho and $665,957 to the supply chain solutions division of UPS, according to US media reports. It owes $2.73 million on a term loan with Austin-based Escalate Capital Partners.
“Together, the company and our stylists community, along with our loyal clients, will weather this economic turmoil and come out on the other side as a stronger and more successful business,” company chief executive officer David DeFeo said in a statement.
Fibre2Fashion News Desk (DS)
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