Sergei Plastinin had “enormous” plans for the worldwide expansion of his daughter Kira Plastinina’s clothing business. But soon after we learned he’s being forced to shut down most of her twelve U.S. stores due to the economic climate, news comes that the company’s U.S. division has filed for bankruptcy. Oh, darn. Sergei spent $80 million setting up his daughter’s stores and owes creditors $54.4 million (and what did you get for Christmas?). Here’s hoping she will now confine her pleather bow belts and shirts that say stupid things to Russia, where her 70 stores are doing just fine. [Bloomberg]
