Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Charlotte Olympia files for US bankruptcy protection

Charlotte Olympia is reportedly closing all three its US-based stores after filing for bankruptcy protection for its three American subsidiaries.

The footwear label, which was founded by Charlotte Dellal in London, cited unprecedented disruption in the retail market for launching bankruptcy procedures, according to Footwear News.

The filing for Chapter 11 bankruptcy protection in the Delaware bankruptcy court revealed the US subsidiaries estimated their assets at $3.26m, compared to liabilities of $19.2m.

Pinktoe Tarantula and affiliates Desert Blonde Tarantula and Red Pump Tarantula, which trade as Charlotte Olympia, filed for bankruptcy protection this week.

The three subsidiaries will liquidate inventory and close their stores.

In the court declaration, chief restructuring officer William Kaye said Charlotte Olympia’s US retail stores, located in Florida, New York, California, and Nevada had historically been unprofitable.

Charlotte Olympia was unavailable for comment. 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.