RANDY KEMPER FILES PERSONAL CH. 11 PETITION
NEW YORK — Designer Randy Kemper and his sister Lynne Kemper have each filed for Chapter 11 bankruptcy protection, citing financial difficulties stemming from guarantees on debts of Randy Kemper Corp.
The papers state that problems started after the withdrawal of an investor and confirm a report in Monday’s WWD on Kemper’s financial difficulties. The Kempers, who formed Randy Kemper Corp., could not be reached for comment.
Randy Kemper’s petition listed liabilities of $842,767, with $737,882 in unsecured debt. It also listed $104,885 in secured debt, including $84,000 held by Fleet Mortgage on real estate in Pennsylvania. Assets were listed at $33,145.
Lynne Kemper’s petition listed liabilities of $893,709, with $809,839 in unsecured debt. Her petition also includes the secured debt held by Fleet Mortgage. Assets were listed at $41,708.
The Kemper collection is produced under license by RK Studio. According to Bernard Wachter, president of RK Studio, there is no association between Randy Kemper Corp. and RK Studio. Wachter is also a director at Apparel Design & Development, a licensing and private label manufacturing firm, which purchased the Kemper trade name from Congress Talcott, a factoring company, through a public auction last year.
The Kempers’ difficulties come at a time when the collection produced under the Kemper name was starting to show promise and direction. The collection was relaunched last fall, at a price level between bridge and designer collections, and items were sold to Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue, among other stores, for the first time.