Charlotte Olympia is reportedly closing all three of its U.S.-based stores after filing for bankruptcy protection for its three American subsidiaries, Drapers reported. The footwear label, which was founded by Charlotte Dellal in London, cited unprecedented disruption in the retail market for launching bankruptcy procedures, according to Footwear News. The filing for chapter 11 protection in the Delaware bankruptcy court revealed the U.S. subsidiaries estimated their assets at $3.26m, compared to liabilities of $19.2 million. Pinktoe Tarantula and affiliates Desert Blonde Tarantula and Red Pump Tarantula, which trade as Charlotte Olympia, filed for bankruptcy protection last week.
