Luxury fashion brand planning to file for bankruptcy
The luxury fashion brand is reportedly close to filing for a second bankruptcy after filing for insolvency three years ago.
Luxury fashion retailers suffered serious effects of the Covid-19 pandemic as social distancing and stay-at-home rules prevented large gatherings for weddings, ceremonies, banquets, and other formal events.
Other economic problems also contributed to luxury fashion retailer financial distress, including increased labor and product costs driven by inflation and rising interest rates.
