J. Mendel files for bankruptcy
American fashion brand J. Mendel has filed for bankruptcy.
The historic label, which first opened in 1870 as a Russian furrier brand and now has a flagship store on Madison Avenue, filed for Chapter 11 bankruptcy protection following mounting legal struggles over unpaid bills. The brand is hopeful that the filing will lead to an eventual comeback, as it has for some other fashion brands.
John Georgiades, a spokesperson from the label’s largest investor Stallion Inc, said restructuring the company’s debts will allow J. Mendel to face the current challenging luxury retail environment
“I am confident that this will allow the company to move forward with renewed financial stability, allowing us to focus on crafting the best designs for our devoted clientele.”
Among the companies reportedly suing J. Mendel are PR firm Karla Otto, The New York Times, Er Fur Trading Corp, real estate firm The Arsenal Co, and DNA Model Management.