LONDON FOG FILES FOR BANKRUPTCY; OUTERWEAR AND RAINWEAR BRAND ALSO MAKES DEAL TO SELL PACIFIC TRAIL LABEL TO PERRY ELLIS INTERNATIONAL FOR $14.5 MILLION.(London Fog Industries Inc. )

Daily News Record, March, 2006 by Young, Vicky M.

Byline: VICKI M. YOUNG

NEW YORK - London Fog has filed bankruptcy for the second time and has made a deal to sell its Pacific Trail brand to Perry Ellis International.

Last Monday the London Fog Group filed a voluntary Chapter 11 bankruptcy court petition in Reno, Nev., seeking to restructure its businesses. The company received a $40 million debtor-in-possession financing facility from Wachovia Bank. The financing is subject to court approval. The company said the filing was necessary because it was unable to secure sufficient financing for day-to-day operations.

This is the second stint in bankruptcy for the 84-year-old company. The rainwear and outerwear manufacturer filed a voluntary petition for Chapter 11 bankruptcy court protection on...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.