Fashion Brand Owner The Collected Group Files For Bankruptcy

The parent of the Joie, Equipment and Current/Elliott fashion brands filed for Chapter 11 Monday. The bankruptcy follows protracted sales declines, liquidity issues and a disrupted sale process, all of which the company attributed to the pandemic. The Collected Group filed with a pre-packaged plan that would turn over equity to certain secured lenders. The company is also looking to fully wind down its brick-and-mortar footprint to focus on e-commerce and wholesale. At its largest, the company ran 33 branded stores, according to its chief restructuring officer. Read more at Retail Dive.