Bossip has just learned that, Kellwood Co., the owner of Baby Phat, is considering filling for Bankruptcy due to its inability to meet a big debt payment. Vibe Magazine closed down last month after facing the similar problems :
Kellwood Co., one of the largest apparel manufacturers in the U.S., could be forced to file for bankruptcy soon, after it failed to reach an agreement with its bondholders, people familiar with the matter said.
The St. Louis-based company, which employs roughly 2,000 people and owns such popular clothing brands as Phat Farm, Sag Harbor and Vince, was taken private in February 2008 by buyout firm Sun Capital Partners for $542 million.
The twin effects of a heavy debt load and a sharp drop in consumer spending have crushed the company’s financial results.
Well, BDR’s stacks and bulky child support payments should soften the blow for Kimora. She “married good”, one of the best recession fighting strategies around.
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