Wilkes Bashford filed for Chapter 11 protection.
Times are bad for San Francisco luxury retailer Wilkes Bashford.
The store of choice for former Mayor Willie Brown and local elites filed for Chapter 11 bankruptcy protection, the San Francisco Chronicle reported. The move comes about a month after Wilkes Bashford closed two stores and a few months after laying off 18 employees
The Union Square clothier abruptly closed its Mill Valley, Calif. store in September and laid of employees with little warning. The move was suppose to stop the hemorrhaging for the store known for selling brands such as Oscar de la Renta and Brioni to local celebrities and elite.
The Chapter 11 filing was made to protect Wilkes Bashford as it sells it assets to Ed Mitchell West LLC, the paper reported. Under the agreement Wilkes Bashford would continue to sell high end clothes in San Francisco and Palo Alto, Calif.
Mr. Bashford opened his flagship store on Sutter Street in San Francisco more than 40 years ago. Bashford said in a statement operations will continue as normal at the stores ahead of the holiday season.