NEW YORK — Four Asian manufacturers filed an involuntary Chapter 7 petition against Ellen Tracy seeking to liquidate the company.
The filing was made on Friday in Manhattan bankruptcy court.
The four petitioners are: Shanghai K&J Apparel Co. Ltd., Shanghai, which owed $1.5 million; Chinamine Trading, Kowloon, Hong Kong, $676,000; Excellent Jade Ltd., Kwai Chung, New Territories, Hong Kong, $1.2 million, and Shanghai Mandarin Fashion Ltd., Shanghai, $432,000.
Kenneth Rosen of Lowenstein Sandler in Rosalind, N.J., who represents the petitioners, said Ellen Tracy has 20 days to respond to the filing. He said the filing was necessary and called it an “alternative of last resort” because the debts were “substantially” overdue.
Rosen also said he is seeking to have a bankruptcy trustee “investigate what happened to the Ellen Tracy license,” referring to the one in existence before RVC came into the picture.
Fashionology Group, which is winding down its manufacturing business, last month sold the operational division of Ellen Tracy to RVC Enterprises. RVC was given the license for use of the Ellen Tracy brand for women’s sportswear in both the better and bridge categories. Brand Matter is the company that owns the intellectual property of Ellen Tracy.
As reported, Ellen Tracy under RVC is examining whether to pull out of the bridge market and introduce a better-priced collection exclusively with a retailer. RVC is said to be in talks with several chains, including Macy’s, Dillard’s and Lord & Taylor.
Neither Windsong Brands LLC nor Hilco, co-owners of Brand Matter and Fashionology Group, could be reached for comment.
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