NEW YORK – Clothing maker Ecko Unltd. is seeking Chapter 11 bankruptcy protection, according to court filings.
Ecko, which sells clothing under the brand names Ecko Unltd. and Unltd., says it has about $30 million in assets and $62 million in debts. The company says its sales and profitability have been declining since the start of 2009 because of the recession and changes in fashion trends. The company filed for bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey on Wednesday.
The New York company says it sold most of its warehoused inventory.
Ecko Unltd., a youth-focused lifestyle brand, was founded in 1993 by Marc Ecko. It has 110 full-time employees and about 860 part-time employees.