With ongoing speculation the label’s financing has dried up, and that it was shutting down — only exacerbated by the fact that Tuleh nixed its fall 2010 runway show — many are wondering just what the future holds for the label.
Tuleh is no longer meeting the demands of creditors, and the company and its backer, Trilea Holdings Inc., are said to be investigating several options, which could range from selling the business to licensing a part of it to generate additional sources of income, to finding a loan to keep the business operating. Trilea Holdings is said to no longer be investing in the label, but is working to find a solution.
Financial sources said the brand still resonates with customers. The state of spring deliveries, and the fate of the secondary Bryan Bradley collection, could not immediately be learned.
“The business has been and continues to be unprofitable, and creditors were making demands that the company could not satisfy,” said Mark Friedman, managing partners of Trilea Holdings’ advisory firm, Trilea Partners. “I know that Bryan and Marco [Cattoretti, his business partner] are incredibly talented and they have done everything in their power to make the business successful. We have the utmost respect for them.”
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