CALVIN LICENSEE FOR HOME LINE FILES CHAP. 11
NEW YORK — Decorative Home Accessories, the licensee for the Calvin Klein home and bath collection, on Monday filed a Chapter 11 petition in Manhattan Bankruptcy Court.
It listed assets of $67.6 million and liabilities of $141.8 million.
Liabilities include $118 million in publicly traded debt.
The company also filed separate petitions for operating subsidiaries, including DHA Home Inc., which does business as Calvin Klein Home Inc.
Klein’s home collection includes towels, bed sheets, shower curtains, potpourri, room fragrance spray and scented candles.
DHA Home listed assets of $10.5 million and liabilities of $20.3 million.
Among DHA’s unsecured creditors was Unilever-owned CK Cosmetics Co., based in Mt. Olive, N.J., owed $674,030.
Unilever, the licensee for Klein’s highly successful fragrances, was instrumental in developing the home fragrance scents.
Other creditors included CRK Advertising, $264,878; and Calvin Klein Inc., $55,626.
Klein entered into the license with Decorative Home in June 1994, but the arrangement was modified in April of this year, shortly before Decorative Home announced plans for a capital restructuring.
A spokesman for the designer’s company, Calvin Klein Inc., said the Chapter 11 “does not affect the [home] licenses or business in any way, which is performing very well.”
Decorative Home is based in Abbeville, S.C., with annual sales of about $200 million
The company also operates The Rug Barn, based in Abbeville, and Home Innovations Inc., based here.