Ray’s Apparel and Split Clothing will be no longer in 60 days according to an Adam Sullivan story on Transworld Business.
“Rays Apparel has always been a very profitable company,” explains Ray’s Apparel president Jim Stark. “We got into mid-2008, probably about May, and started running into the same economic woes and problems that our competitors have been having. And for the past four or five months, we’ve been losing money. And it certainly looks that way for the balance of the year.”
While more than 60 employees will reportedly be out of a job, Stark says Split will “continue shipping product into 2009.” The Split brand, however, is up for sale. . . seems like it would be a perfect for one of the mall chain stores. PacSun? Buckle? Zumiez? Anyone?
[Link: Transworld Business]
