Tamara Mellon files for bankruptcy
Shoe designer, Tamara Mellon has filed for bankruptcy, according to the American press. Mellon, who launched her namesake line in November 2013, entered a voluntary Chapter 11 bankruptcy in order to pay off her creditors.
According to the American press, the Tamara Mellon brand has assets of $1 million to $10 million and has between 100 and 199 creditors that are owed between $1 million and $10 million.
Mellon said in a statement, "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. 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."
After Mellon exits the Chapter 11, she will create a new company that will own the Tamara Mellon LLC trademarks.
Mellon launched her namesake label after parting ways with Jimmy Choo in November 2011. She co-founded the brand and served as Chief Creative Officer before the brand was sold to Labelux. The Tamara Mellon brand opened a pop up on December 2 at W Hotel South Beach for Miami Art Basel. The pop up will remain through December 7.
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