Menswear Designer John Varvatos Enterprises Files for Bankruptcy

John Varvatos Enterprises Inc. filed for Chapter 11 bankruptcy in Delaware, listing assets of as much as $50 million and liabilities of at least $100 million.

• Company is 100% owned by Lion/Hendrix Corp., which also filed for bankruptcy, court papers show. Lion Capital acquired the menswear designer in 2012, according to a statement at the time
• A group of class-action lawsuit claimants is the company’s largest unsecured creditor, with a claim of about $3.5 million
• The menswear designer’s stores are currently closed due to the Covid-19 outbreak
• The case is John Varvatos Enterprises Inc., 20-11043, U.S. Bankruptcy Court for the ...