Tamara Mellon Files for Chapter 11 Bankruptcy Protection

by Ashley Baker

Per Instagram, Tamara Mellon appears to be in Miami for Art Basel, where she has opened a pop-up shop for her eponymous brand at The W Hotel South Beach. (Is that a private jet we spy?) Meanwhile in Delaware, her company has filed for Chapter 11 bankruptcy protection. According to Wednesday’s filing, the company has assets between $1 million and $10 million, while its creditors, who range in number from 100 to 199, are owed somewhere between $1 million to $10 million. For example, Hong Kong based apparel manufacturer Tak Fat Fashion Ltd. is due $197,528, while Italian shoe firm Calzaturificio Ilaria is owed $126,500. Mellon plans to form a new company, New TMB, and says she will continue operating without employee layoffs. “We will use this brief period of reorganization so we can position ourselves to take advantage of our new growth strategy and ensure the long term vibrancy of our brand,” said Mellon said in a statement. “We expect that we will emerge from this stronger than ever in 60 days or less, and all of us at Tamara Mellon look forward to pursuing our passion long into the future.” Art Basel-goers, let’s hope you’re doing some serious damage at that pop-up.

 

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