Showfields Inc. has filed for bankruptcy and has lined up financing to support a restructuring, WWD has learned.
The corporate didn't disclose the quantity of the brand new funding, which got here from existing investors. The brand new money might be used for completing the sunsetting of the 2 stores closed earlier this yr, paying outstanding bills, increasing marketing and expanding the Brooklyn store, which continues to operate, amongst other purposes revolving across the restructuring, Tal Nathanel, chief executive officer and cofounder of Showfields, told WWD.
Showfields continues to operate its store at 3077 M Street NW within the Georgetown section of Washington, D.C,. in addition to the shop within the Williamsburg section of Brooklyn, at 187 Kent Avenue.
Showfields might be...
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