Calypso St. Barth to liquidate all inventory

Luxury chain Calypso St. Barth is liquidating all of its stores. Tiger Group and Great American Group are supervising the going-out-of-business sales at 16 boutiques in New York, Georgia, Massachusetts, Colorado, California, Florida, Arizona, Maryland and South Carolina.

Valued at a total of 15 million dollars, the inventory is drawn from 25 Calypso St. Barth's boutiques, nine of which have already closed for good; the remaining 16 stores will be shuttered at the close of the liquidation process. Seven additional U.S. locations were previously closed. Calypso St. Barth filed for Chapter 7 bankruptcy protection on November 29 in the U.S. Bankruptcy Court, District of New Jersey.

Calypso St. Barth liquidating all inventory

Founded on the Caribbean island of Saint Barthélemy in 1992, Calypso St. Barth is well known as a luxury lifestyle brand with an international following. Its colorful boutiques are located in some of the most affluent neighborhoods, resort towns and central business districts in the country, said Tiger Group Director Ryan Davis.

"They're filled with exotic and resort-inspired merchandise—things like dip-dyed caftans, cashmere cardigans, Moroccan-print pillows and curated pieces by international designers," he said. "For discerning buyers, these sales represent an extraordinary value opportunity. The timing also happens to be ideal, as now is the time of year when so many travelers start planning their annual winter getaways."

While Calypso St. Barth has been around for 25 years, the brand has faced a series of financial problems recently. Vendors have said that they haven't been paid by the brand in over a year. The New York Post reported that the company may also be behind on payments to landlords. Most of the issues stem from the company's main shareholder, Solera Capital, which has failed to pay everyone from landlords to the light company.

Photo: via PR Newswire