Former Ecko Unltd. licensee seeks bankruptcy protection
April 5, 2014, 12:09 am TWN
NEW YORK--The former licensee for clothing maker Ecko Unltd. is seeking bankruptcy protection, according to court filings.
MEE Apparel and Mee Direct, which sell clothing under the brand names Ecko Unltd. and Unltd., say they have about US$30 million in assets and US$62 million in debt. They say sales and profitability have been declining since the start of 2009 because of the recession and changes in fashion trends. They made the filing in the U.S. Bankruptcy Court for the District of New Jersey Wednesday.
The Ecko Unltd. brand itself didn't file for bankruptcy, says Jennifer Hoffman, a spokeswoman for Iconix Brand Group Inc. A new Ecko licensee has already begun delivering product to retailers, she added.