Signature Styles, owner of catalog and internet retail sites including Spiegel, has filed for Chapter 11 bankruptcy protection, Reuters reported. Signature Styles was formed in June 2009 by investment firm Patriarch Partners LLC to acquire Spiegel Brands from Dymus Funding Co. The deal was worth $21.7 million, Reuters wrote. In the bankruptcy filing, the company listed assets in the $10 million-$50 million range, and debts in the $50 million to $100 million range.
(Reuters) – Catalog and internet retailer Signature Styles LLC — owner of Spiegel, Newport News and Shape Fx — filed for bankruptcy in a Delaware court late on Monday.
The company listed assets in the $10-$50 million range and debt in the $50-$100 million range in its Chapter 11 petition. Signature Styles Gift Cards LLC, an affiliate, was also included in the bankruptcy filing.
Signature Styles was formed in June 2009 by private investment firm Patriarch Partners LLC to acquire Spiegel Brands from Dymus Funding Co LLC. The deal was worth $21.7 million.
The case is In re: Signature Styles LLC, U.S. Bankruptcy Court, District of Delaware, No. 11-11733. (Reporting by Santosh Nadgir in Bangalore)