Footwear luminary Tamara Mellon has put her namesake brand into bankruptcy.
The founder of Jimmy Choo and now owner of a ready-to-wear and footwear label that bears her name, voluntarily filed for bankruptcy protection from her creditors and plans to exit Chapter 11 in 60 days.
According to WWD, Mellon will form a new company that will own trademarks that currently belong to Tamara Mellon LLC. 'We will use this brief period of reorganisation so we can position ourselves to take advantage of our new growth strategy and ensure the long term vibrancy of our brand," Mellon said in a statement. "We expect that we will emerge from this stronger than ever in 60 days or less, and all of us at Tamara Mellon look forward to pursuing our passion long into the future.'
The reorganization plan was approved by a Delaware bankruptcy judge today.
Mellon established her eponymous label in 2013 after selling her remaining shares in Choo in 2011. In 2013 she documented her tumultuous life in business in her memoir, In My Shoes.
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