Italian fashion label Roberto Cavalli has shuttered its stores in the US and will liquidate its entire operations in the territory.
While the brand had recently sought to negotiate with creditors while buying to time to source new investment, it has now sent all staff home and will close all stores. Several key executives have resigned, and a spokesperson announced on Sunday that the group will file for liquidation bankruptcy.
The flamboyant fashion house has been inundated with difficulties since former Versace executive Gian Giacomo was appointed CEO in late 2015. The firm has struggled since to gain new investment and experienced a high turnover in its creative team.
The group’s online operations have been shut down until logistics are re-routed through Europe.