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Tamara Mellon, former Jimmy Choo shoe guru, has filed for voluntary Chapter 11 bankruptcy for her eponymous brand. WWD reports that Mellon plans to exit Chapter 11 in 60 days or less as part of the reorganization plan. The company expects to continue operations in the meantime without laying off employees. According to WWD, the Tamara Mellon brand has assets of $1 million to $10 million and 100 to 199 creditors owed $1 million to $10 million.
"We will use this brief period of reorganization so we can position ourselves to take advantage of our new growth strategy and ensure the long term vibrancy of our brand," said Mellon in a statement. "We expect that we will emerge from this stronger than ever in 60 days or less, and all of us at Tamara Mellon look forward to pursuing our passion long into the future."
The designer just opened a pop-up shop just yesterday in Miami. Mellon's brand has grown from shoes to bags and clothing. She's known for her dangerously high heels and her infamous leather legging boots, worn by Kim Kardashian, naturally.