Diesel USA Inc. Is Filing For Bankruptcy
Denim brand Diesel USA Inc. has filed for Chapter 11 bankruptcy. The interesting thing about this bankruptcy filing is the parent company Diesel SpA is not involved in the bankruptcy filing.
Diesel plans to put a strong focus on there more profitable retail stores. The company also wants to use influencers to appeal to the younger demographic.
Declining sales is just one of the reasons Diesel filing for Chapter 11 bankruptcy. The company also experienced a lot of theft in physical stores and online. Diesel is also not one of the most affordable brands out there.
It will be interesting to see if they are forced to close some of their United States locations if profitability doesn’t improve soon.