California apparel label No Fear on Thursday filed a voluntary Chapter 11 petition for bankruptcy court protection in San Diego bankruptcy court.
The Carlsbad, Calif.-based firm was popular with teens for its action-sports apparel and accessories in the Nineties. Much of its recent merchandising has revolved around surfing and motorcross themes.
In addition to its wholesale business, No Fear operates 41 stores in states such as California, Arizona, Nevada, Texas, North Carolina, Florida and Oregon. It was founded by twins Mark and Brian Simo in 1989.
In 2010, lawsuits were filed in a Los Angeles state court by several Southern California shopping malls for nonpayment of rent.
The company said it will continue its retail operations as it restructures the business.
In bankruptcy court records, No Fear listed assets of between $10 million and $50 million and liabilities of between $1 million and $10 million.