LOVE CULTURE FILES VOLUNTARY 11: Love Culture Inc. has filed a petition under Chapter 11 seeking bankruptcy court protection in Trenton.
The company, which sells edgy fashion apparel and accessories to young women from ages 18 to 35, said it has either letters of intent or indications of plans to submit the letters from several potential financial and strategic buyers. The company began experiencing financial difficulties in 2012.
This story first appeared in the July 18, 2014 issue of WWD. Subscribe Today.
Rick Bunka, chief restructuring officer for the chain, said, “This process will allow us to close underperforming stores while we focus our attention on improving performance in our remaining store base and e-commerce.”
The company, founded in 2007, has more than 80 stores in 26 states.