Apparel manufacturer Kellwood Co. may file for bankruptcy this week. According to reports, if the St. Louis-based clothes maker can't come up with payment by Wednesday, it may be forced to file for Chapter 11.
Kellwood, whose brands include Baby Phat, Fabulosity, Vince, Xoxo, and Phat Farm among others, has a 0 million bond issue that is due next week, according to inside sources. If it can't defer payment or pay by Wednesday, it may file for bankruptcy, New York Post said.
The company was taken private in February last year by Sun Capital Partners for 2 million.
According to the Wall Street Journal, which first reported the issue, Kellwood CEO Mike Kramer blamed Deutsche Bank for changing its mind after first agreeing to an exchange of their bonds for issues with later maturity.
Kellwood, whose brands include Baby Phat, Fabulosity, Vince, Xoxo, and Phat Farm among others, has a 0 million bond issue that is due next week, according to inside sources. If it can't defer payment or pay by Wednesday, it may file for bankruptcy, New York Post said.
The company was taken private in February last year by Sun Capital Partners for 2 million.
According to the Wall Street Journal, which first reported the issue, Kellwood CEO Mike Kramer blamed Deutsche Bank for changing its mind after first agreeing to an exchange of their bonds for issues with later maturity.
- 7/13/2009
- icelebz.com
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