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Kira Plastinina USA Bankrupt, $54M in Debt

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Kira Plastinina on Robertson Boulevard

Among the news to come out of the first few days of 2009? Wacky, daddy's girl design house and boondoggle Kira Plastinina accumulated an impressive $54M in debt during its 7-month stint operating stateside. Goddamn right they filed for Chapter 7 bankruptcy protection. Specifically:

The filing listed Cyprus-based Lendero Ltd., to which KP Fashion owes almost $30 million for a loan, as its largest creditor. Court papers showed that the firm owes Marvin Traub $140,375, Harrison & Shriftman $215,328.96 and $1.3 million to The Gary Group, a Santa Monica, Calif., public relations firm. KP Fashion executives did not return calls seeking comment

Things not to do while launching a brand it meager times, apparently, include spending almost a quarter million dollar on a PR firm (Harrison & Shriftman). But, the good news is that while it's still live, is offering their tacky Russian chic merch for up to 75% off. No returns, natch.
· Kira Plastinina Files for Bankruptcy–U.S. Firm Owes Creditors More Than $54 Million [WSJ]