FORMER BABY PHAT LICENSEE IN CHAPTER 11: BP Clothing LLC, which held the Baby Phat license until earlier this year, on Monday filed for Chapter 11 bankruptcy court protection in Manhattan. Court documents were not immediately available. The company said in court papers that the discontinuance of the “Fabulosity” juniors line at J.C. Penney was a “significant factor in the debtor’s overall decline.” At the time of the filing, BP’s main asset was the Susie Rose trademark, which is sold directly to Walmart. BP had net sales of $81.8 million for the 2010 fiscal year, and listed assets of $57 million and debt of $93.9 million, according to court documents. Baby Phat is part of Phat Fashions, owned by Kellwood Co.