Chris Burch Lost $70 Million on C. Wonder

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Photo: Scott Eells/Bloomberg via Getty Images

Chris Burch has remained fairly mum on the travails of his "revenge retail" project, C. Wonder, but he's finally speaking out. “I take full responsibility for the failure of C. Wonder,” he told the New York Times in an interview. Added Burch, who lost an estimated $70 million on the venture, “It’s not about my ego, O.K.? It’s not about failing. It’s about the fact that this is a really good idea that should have been successful.” Burch blamed the business's troubles on trying to grow too fast and taking on pricey store leases. The business filed for bankruptcy last week, and Burch is now attempting to buy the rights to the C. Wonder name for a little over $2 million. So who knows — we could be seeing a sequel down the road.