More Luxury Goods Cos. May File For Bankruptcy

Law360, New York (July 25, 2008, 12:00 AM EDT) -- Though mid-range and low-end retailers have been hit hardest by the downturn in the economy, luxury goods makers, once thought to be recession-proof, are feeling the economic strain as well.

While they may not be as affected as other retailers, experts say sellers of high-end goods should be mindful that the credit crunch may affect their target consumers as well.

The most recent luxury company to succumb to the economic climate is yacht company Fearless International Inc. LLC, which filed for Chapter 11 last week. In...
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