Kira Plastinina, the very young
and distinguished designer, filed for
chapter 7 bankruptcy on Jan 2, 2009.
Reports have concluded that her label is $54 million in debt to over 100 creditors. And it's not just that - the company's in a court battle over trademark infringement with Pacific Sunwear.
As a deep fan of her label, it's very saddening to me that a vibrant young designer like her had to be pulled down during this economic crisis. It shows that having an impressive skill in designing and a millionaire father to help out isn't enough to have a successful company in the industry these days. Just 7 months ago she took America by storm and unfortunately it ended rather too soon for Kira Plastinina. Hopefully this isn't the last that we will see from her - I'm sure she'll come back.