Tuleh: Clothing Line May Shutter
For the past couple of months, weve been hearing horror stories about fashion industry goliaths that have been taken down due to the dwindling economy. FromLuellatoBill Blass, very few are safe from the recession.
For a while now, rumors have been spreading around the industry regarding the questionable future of . Suspicions that the 10-year-old labels financing was rapidly depleting and that the demise of the label was on the horizon were only confirmed after it cancelled its fall 2010 runway show.
The brand, famous for its quirky yet pretty party frocks, has a strong following among the fashion set. Unfortunately, at the end of the day it all comes down to the numbers.
The business has been and continues to be unprofitable, and creditors were making demands that the company could not satisfy, saidMark FriedmanofTrilea Holdings, the backer of Tuleh.
Unable to meet the demands of its creditors, the label is said to be looking at different options, which include selling the business and/or finding additional loans to keep it afloat. Hopefully the brand will be able to pull through in the end — were crossing our fingers.
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