Lucky Brand announces bankruptcy

Saturday, 04. July 2020 06:36

Apparel company Lucky Brand Dungarees filed for Chapter 11 bankruptcy due to the COVID-19 outbreak.

According to the official statement, the company went into a "stalking horse asset purchase agreement" with SPARC Group LLC.

The company’s chief executive officer Matthew Kaness stated that "the COVID-19 pandemic has severely impacted sales across all channels. While we are optimistic about the reopening of stores and our customers’ return, the business has yet to recover fully."

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Breaking the News / TF