Karmaloop Inc., an online apparel company, filed for bankruptcy protection, becoming the latest clothing retailer to fall victim to changes in consumer trends (In re Karmaloop Inc., Bankr. D. Del., 15-10635, petition filed 3/23/15).
The Boston-based company listed assets of more than $10 million and debt of more than $100 million in Chapter 11 documents filed March 23 in U.S. Bankruptcy Court in Wilmington, Del.
“The debtors’ businesses have fallen victim to the shift in retail purchasing that is occurring, especially among retailers in the young adult age bracket, as such consumers have moved away from purchasing ...
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