April 2, 2010 |
Rock & Republic, the fashion brand known for its pricey designer denim and other apparel, said Thursday that it had filed for Chapter 11 bankruptcy protection. The Culver City company, whose products are sold in upscale department stores such as Bloomingdale's, Neiman Marcus and Nordstrom as well as specialty retailers and its own free-standing stores, said the filing would ease pressure on its balance sheet. Day-to-day operations are expected to continue. "The Chapter 11 filing is a strategic action that will alleviate balance sheet burdens and enable us to adopt the financial and operational initiatives needed to support the brand's growth needs," said Geoffrey D. Lurie, the privately held company's newly named chief restructuring officer.