The #Girlboss movement has hit a snag. Women’s Wear Daily reports that Sophia Amoruso’s brand Nasty Gal filed for Chapter 11 bankruptcy yesterday in California. The company’s CEO Sheree Waterson told the paper that the filing “will enable
us to address our immediate liquidity issues, restructure our balance
sheet, and correct structural issues.” Amoruso will reportedly resign as executive chairman of the company in the wake of the filing, per Recode. (We’ve reached out to a rep for the company for a comment on this report and will update this when we hear back.)
There have been rumbles of trouble in recent months — in September, WWD reported that Nasty Gal was seeking a buyer, and the company held layoffs in February, cutting roughly 10 percent of its workforce. However, Waterson said, “We expect to maintain our high level of customer service and emerge stronger and even better able to deliver the product and experience that our customers expect and that we take pride in bringing to market.”
