US online retailer Nasty Gal said it will file for bankruptcy protection just hours after founder and high profile entrepreneur Sophia Amoruso addressed a packed auditorium in Melbourne to share the secrets to her businesss success.
On Thursday Recode reported the $US100 million ($131 million) retailer was preparing to file for Chapter 11 bankruptcy, the equivalent of voluntary administration in Australia, in order to restructure its affairs, and that Amoruso was to step down as executive chairman of the company.
Our decision to initiate a court-supervised restructuring will enable us to address our immediate liquidity issues, restructure our balance sheet and correct structural issues, Nasty Gal chief executive S…
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