Fashion News – Nasty Gal files for Bankruptcy

  Online fashion business Nasty Gal, founded by Sophia Amoruso, has filed for Chapter 11 bankruptcy protection. Nasty Gal began life as an ebay store when Amoruso was twenty-two years old and enjoyed a meteoric rise until recent years as the gap between costs and profitability widened. Having secured some capital in 2015, the business was unable to maintain the momentum of investment required to keep the business growing. In addition to heading a business that at its peak earned a reported $100 million in annual sales, Amaruso has become a celebrity in her own right. Her 2014 New York… Continue Reading