Soaked London Fog Files For Chapter 11

Law360, New York (March 22, 2006, 12:00 AM EST) -- For the second time in less than a decade, famed rainwear manufacturer London Fog Group Inc. has filed for Chapter 11 bankruptcy protection, seeking to shutter its Pacific Trail outerwear business in order to stay afloat.

The Seattle-based apparel company filed its petition on Tuesday in the U.S. Bankruptcy Court for the District of Nevada, listing $59.84 million in assets and $93 million in debts.

The company revealed in court documents that Wachovia Bank NA has already agreed to fund a $40 million debtor-in-possession loan....
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