Jimmy Choo Co-founder Tamara Mellon Files for Bankruptcy
The designer voluntarily has filed for Chapter 11 bankruptcy for her eponymous label.
Jimmy Choo co-founder Tamara Mellon voluntarily has filed for Chapter 11 bankruptcy for her namesake womenswear line.
The designer plans to exit Chapter 11 in 60 days or less and to form a new company as part of the reorganization plan, reported WWD. The company is expected to continue to operate without any employee layoffs.
"We will use this brief period of reorganization so we can position ourselves to take advantage of our new growth strategy and ensure the long-term vibrancy of our brand," Mellon told WWD. "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."
Mellon, who earlier this year revealed she was engaged to CAA co-founder Michael Ovitz, launched her eponymous label in November 2013 after stepping down from her role at Jimmy Choo in 2011 and since has found famous fans in Jennifer Lawrence, Kylie Jenner, Jessica Alba, Kiernan Shipka and Chrissy Teigen.