Apparel brand Nasty Gal files for bankruptcy
Trendsetters who would love to shop at Nasty Gal might be disappointed with the news that the online women's fashion retailer has filed for bankruptcy.
On Wednesday, 9 November, the apparel retailer officially filed a bankruptcy, shocking the public and could leave a bad taste in fashionistas' mouths. Famous celebrities who were Nasty Gal shoppers were Selena Gomez, Beyonce and more celebs.
Sophia Amoruso, the brand's founder and #Girlboss author, is widely believed to be resigning from her position, according to Recode.
Sheree Waterson, Nasty Gal's CEO, ratified to WWD on their decision to initiate a court-supervised overhaul that would allow them to address our immediate liquidity issues. Waterson added, that they would as well like restructure their balance sheet, so to correct structural issues which included the reduce of high occupancy costs, according to US Magazine.
On 11 November, a statement from Sheree was released, which cited that they anticipated to maintain the high level customer service that they had. The CEO herself admitted that they have debt promises and would be willing enough to arrange its pacts.
She expressed that they look forward that they would emerge to be stronger and even beyond better to dispense the product and administer a customer-oriented service that would gratify their needs. It has been hoped that they could lift their heads up as they take their pride in bringing it to market, the New York Magazine cited.
The apparel brand had been into a long line of chaotic incidents. The brand was launched in 2006. It has confirmed that it discharged an essential number of workers in the rank and file in a statement on February 2016 to WWD.
It has been admitted that as of today, there were 19 employees who were relieved from their post. Though it hurts, they have done it as part of their strategic restructuring. By doing so, it would allow them to progress as a company.
To recap, another round of layoffs has transpired on June 2015. Aimee Concepcion, former employee filed a lawsuit which claimed that Nasty Gal fired her. There were three other women and one man terminated for a very shallow reason, as for the women, they were being pregnant and as to the man for taking paternity leave.
It was noted that when Sophia stepped down from her position, Waterson took over as CEO in January 2015. However, she ascertained her unwavering customers that she would not leave the company anytime soon.
On January 2015 Nasty Gal blog post, Sheree wrote "My entire youth has been Nasty Gal. My entire future is Nasty Gal". She added that the statement that she had written on the blog implies her choice that would give their team and into the business "legs" which could stand firmly in the ground and even the stormiest gale can't uproot it.
Thus, for Waterson, it would give her the freedom to feel that she has been using her talents at her very best and to the fullest. Sheree added that this would release her superb talent and management skills across an organization that has never been so ready.
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