Rock & Republic Files Chapter 11
Bad news for fashion brand Rock & Republic. The Los Angeles-based company famous for pricey jeans with embellished pockets has filed for Chapter 11 bankruptcy protection. The company plans to continue business as usual and is taking the Chapter 11 opportunity to reorganize and as the LA Times puts it, explore financial relationships, otherwise known as finding friends with deep pockets.The brand was founded by Michael Ball in 2002. It gained attention for partnering with Victoria Beckham for a line of pricey denim with a crown on the rear. The brand expanded from clothing into sunglasses, handbags and cosmetics but quotes from Geoffrey D. Lurie, the company's newly named chief restructuring officer, indicate that the company will be focusing more on its core apparel and footwear businesses. At the start of 2009 Michael Ball told the AP that "the days of the $300 jeans are gone." Rock & Republic then launched the Limited Edition Recession Collection selling jeans for under $150. They haven't dropped the decadence entirely though, the Crazy B!@#H jeans shown here in Dementia Black sell for $385.
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