Karmaloop Inc., an online apparel company, filed for bankruptcy protection, becoming the latest clothing retailer to fall victim to changes in consumer trends, Bloomberg News reported yesterday. The Boston-based company listed assets of more than $10 million and debt of more than $100 million in chapter 11 documents filed yesterday. “The debtors’ businesses have fallen victim to the shift in retail purchasing that is occurring, especially among retailers in the young adult age bracket, as such consumers have moved away from purchasing traditional brands,” Brian L. Davies Jr., the interim chief financial officer, said in court papers. The company will seek court permission to sell assets and named ComCap Acquisition LLC, an affiliate of one or more pre-bankruptcy lenders, as lead bidder at a court supervised auction.
