Ecko Feeling Troubled Economy

If you like Complex magazine, Ecko unltd., and Zoo York, I’ve got some bad news. Hip Hop apparel designer Marc Ecko’s franchise is facing having to pay debts to the tune of $170 million. With lenders nowhere to be found, he’ll likely end up having to sell off assets to pay creditors. In an attempt to draw in some last-minute funds, Ecko has desperately been trying to rent out portions of his 280,000,000-square-foot headquarters.

However, Ecko’s marketing lead claims that the $100 million pile of debt is from “normal trade payables.”, and the remaining $70 million isn’t quite as excusable as it’s a loan Ecko has defaulted on and has until July to pay off. Full story at NyPost.com

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This entry was posted on Tuesday, March 31st, 2009 at 6:09 pm and is filed under Style. You can follow any responses to this entry through the RSS 2.0 feed.