Bill Blass Files for Bankruptcy

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Som's Blass of yore. Photo: Getty Images

We thought all was right with Bill Blass after we learned last week Peacock Holdings LLC bought the label from NexCen. Peacock even promised to resurrect the Couture line, most recently designed by Peter Som. But NexCen's still tying up loose ends, and things aren't completely peachy. Bill Blass Ltd. filed for Chapter 7 liquidation with a Manhattan bankruptcy court on New Year's Eve. The company's assets total $192,000 with debts of $829,000. WWD reports that NexCen planned to sell the furniture in the Bill Blass showroom. Embarrassing. No wonder the 60-plus employees who lost their jobs on December 19 didn't get severance.

Bill Blass sure has taken a flogging these past six months. Som left, retailers' interest flagged, and parent company NexCen could barely sell the label. Peacock has given it a bed to recover in, but now we feel like it's just getting poked with sticks.

BLASS COUTURE FILES CHAPTER 7 [WWD]