- Angela Gonzalez-Rodriguez |
Fashion mogul and Jimmy Choo's founder Tamara Mellon will close the year with positive news: after filing for Chapter 11 bankruptcy protection earlier in December, the court has granted her company a lifeline.
Mellon's ultimate aim with the filing was to have the court approve her namesake brand's business plan to raise extra funding, mainly coming from investment firm New Enterprise Associates.
Additionally Tamara Mellon's company will focus on a direct-to-consumer model.
The day before Christmas, U.S. bankruptcy judge Kevin Gross from the District of Delaware granted the line approval for financing. As reported by 'WWD', the company plans to get back to business by January, 15.