- Denim clothing maker Diesel USA declared bankruptcy, citing mounting financial losses and bad investments
- The company says store thefts and fake invoices are also hurting its performance
- Diesel plans to eventually exit bankruptcy and even open additional stores
Diesel, a maker of denim clothing known for five-pocket jeans, filed for Chapter 11 bankruptcy protection, citing mounting losses, bad investments and theft.
The company cited losses at its brick-and-mortar locations, a reflection of the problems plaguing a range of retailers amid a consumer shift to online retailers such as Amazon. In its bankruptcyfiling, Diesel USA chief restructuring officer Mark Samson noted the company was unable “to sustain the kinds of losses it has suffere…
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