Jeans Brand Diesel USA Files for Bankruptcy
- Company says plan to restore glory will involve influencers
- Chapter 11 filing comes as second U.S. retail culling begins
This article is for subscribers only.
The second-wave retail culling has claimed another victim: Diesel jeans.
Diesel USA Inc., the premium denim and accessory brand whose five-pocket pants dominated pop culture in the 1990s and early 2000s, filed for bankruptcy in Delaware Tuesday. The unit of Italy’s Diesel SpA blamed plummeting sales, a botched turnaround, pricey leases and unwavering landlords -- plus several instances of cyber fraud and theft.