Koala Blue Files for Chapter 11: Koala...
From Times Staff and Wire Reports
Koala Blue Files for Chapter 11: Koala Blue, pop singer Olivia Newton-John’s venture into clothing retailing and manufacturing, has filed for Chapter 11 bankruptcy protection. The privately held company, which operates or licenses about 55 stores in the United States and overseas, including its premiere store on trendy Melrose Avenue, listed $6.84 million in liabilities and $3.89 million in assets in the filing in federal Bankrupcty Court. Daniel Zuckerman, a vice president, said the filing stemmed from a souring economy and too rapid expansion.
