Karmaloop to file for Bankruptcy
- Thread starter FreshAIG
- Start date
The memories.............
You know Dame be bringing up how Kanye with Jay instead of him making Ye feel guilty
Dame: "Ye if you can fund this for ya boy, I'll run that ship and I'll make back double what you paid. Real rap, Harlem shyt."
Kanye: "I dunno Dame, it doesn't seem like a good investment."
Dame: "Oh OK, that's gucci. I mean, I just brought you into the business and gave you your first deal and your big break, pause, and you probably wouldn't even be in the business right now without me. Can't forget that you ditched me and went with Jay, even though I did all that for you, and when a real man does something like that for another man he should show the proper respect for that man, but that's aight b. We'll hook up, pause, on something else later.
Kanye:
damn aight man, how much you need?
the artist known az
Hail the victors
Dame: "Ye if you can fund this for ya boy, I'll run that ship and I'll make back double what you paid. Real rap, Harlem shyt."
Kanye: "I dunno Dame, it doesn't seem like a good investment."
Dame: "Oh OK, that's gucci. I mean, I just brought you into the business and gave you your first deal and your big break, pause, and you probably wouldn't even be in the business right now without me. Can't forget that you ditched me and went with Jay, even though I did all that for you, and when a real man does something like that for another man he should show the proper respect for that man, but that's aight b. We'll hook up, pause, on something else later."
Kanye:
and that Dame smiley is hilariousKarmaloop may have to file for bankruptcy
Word on the street: Karmaloop may file for bankruptcy this week.
The Boston-based streetwear site — a dot-com darling just a few years ago with ambitious plans for growth — is scrambling to avoid a Chapter 11 filing, sources told The Post.
Chie Executive Greg Selkoe is in talks with investors including a New York-based private-equity firm to pay off a portion of the company’s secured debt while adding $10 million in working capital to the business, said one source.
Still, those talks could fall apart, insiders said, leaving Karmaloop’s investors liable for as much as $100 million in writedowns on debt and equity.
Those investors include the prominent New York VC fund Insight Venture Partners, which has poured about $50 million in unsecured loans and equity into Karmaloop, insiders said. Reps for Insight and Karmaloop declined to comment.
After racking up nearly $120 million in revenue in 2013, Karmaloop’s business plunged below $100 million last year as debt obligations crippled operations, sources said.
The site’s troubles have spilled onto social media, with irate customers complaining on Facebook, Twitter and Instagram about undelivered sneakers, tank tops and T-shirts.
“I am grinding extra hard to fix it!” Selkoe said in a Feb. 24 tweet. “Like make ur self sick kinda s- -t, no sleep etc But we gonna make it up to @karmaloop is my fam & life.”
One insider said Karmaloop “had the most selection and the best prices, but that created inventory obsolescence issues” as it struggled to sell all that it had.
A second insider said Karmaloop had racked up $40 million in debt related to flopped side ventures by Selkoe including women’s line MissKL.
http://nypost.com/2015/03/23/streetwear-site-may-have-to-file-for-bankruptcy/
Street wear
Word on the street: Karmaloop may file for bankruptcy this week.
The Boston-based streetwear site — a dot-com darling just a few years ago with ambitious plans for growth — is scrambling to avoid a Chapter 11 filing, sources told The Post.
Chie Executive Greg Selkoe is in talks with investors including a New York-based private-equity firm to pay off a portion of the company’s secured debt while adding $10 million in working capital to the business, said one source.
Still, those talks could fall apart, insiders said, leaving Karmaloop’s investors liable for as much as $100 million in writedowns on debt and equity.
Those investors include the prominent New York VC fund Insight Venture Partners, which has poured about $50 million in unsecured loans and equity into Karmaloop, insiders said. Reps for Insight and Karmaloop declined to comment.
After racking up nearly $120 million in revenue in 2013, Karmaloop’s business plunged below $100 million last year as debt obligations crippled operations, sources said.
The site’s troubles have spilled onto social media, with irate customers complaining on Facebook, Twitter and Instagram about undelivered sneakers, tank tops and T-shirts.
“I am grinding extra hard to fix it!” Selkoe said in a Feb. 24 tweet. “Like make ur self sick kinda s- -t, no sleep etc But we gonna make it up to @karmaloop is my fam & life.”
One insider said Karmaloop “had the most selection and the best prices, but that created inventory obsolescence issues” as it struggled to sell all that it had.
A second insider said Karmaloop had racked up $40 million in debt related to flopped side ventures by Selkoe including women’s line MissKL.
http://nypost.com/2015/03/23/streetwear-site-may-have-to-file-for-bankruptcy/
Street wear
Flay Mayweather
Superstar
:Dafauk:
The Jewnited States
Superstar
Site was overpriced imo
damn
they still got dope shyt tho
they still got dope shyt tho
Facts.
And Karmaloop was just a reseller. They didn't even make clothes, so even then, they weren't "high" on the totem pole.
KravenMorehead™
Barrel Brothers.®
Dame don't never move in silence man. Why he had to bring Kanye name up?
Dude be souring people relationships before the fact with the mouthpiece alone.
Dude be souring people relationships before the fact with the mouthpiece alone.
Flay Mayweather
Superstar
Only if u live in uk it is
Marl0 Stanfield
Yeshua Ben YHWH
Lmao@asking them where ur order is and they respond on twitter cussin n shyt talkin sum "I'm sick about this, I'm trying as hard as I can"
I TRIED TO TELL U nikkaZ ABOUT BACKSEAT nikkaZ FRONTING LIKE THEY DRIVER'S SEAT BRED. REMEMBER HOW U fukkING GUYS WANTED TO TALK ABOUT UR FEELINGS AND shyt? KEEP UR ASS IN THE BACKSEAT. DON'T BE NO GODDAMNED GORDON GEKKO ASS PRAGMATIST AS UR RUNNING PPL'S DEBIT CARDS AND THEN START CRYING LIKE A HIT DOG WHEN, SURPRISE MFKA, WHERE THE fukk IS MY MERCH?
If an investor saves this company and keeps these jerkoffs on board then this shyt is just a lik (which I can respect but the gay ass crying online is crossing the line).
Street wear. Jfc.
Grip ur babynuts and plot an industry takeover like Nino Brown only to end up crying like G Money at the first sign of accountability, morally conflicted would-be corporate raider brehs.
I TRIED TO TELL U nikkaZ ABOUT BACKSEAT nikkaZ FRONTING LIKE THEY DRIVER'S SEAT BRED. REMEMBER HOW U fukkING GUYS WANTED TO TALK ABOUT UR FEELINGS AND shyt? KEEP UR ASS IN THE BACKSEAT. DON'T BE NO GODDAMNED GORDON GEKKO ASS PRAGMATIST AS UR RUNNING PPL'S DEBIT CARDS AND THEN START CRYING LIKE A HIT DOG WHEN, SURPRISE MFKA, WHERE THE fukk IS MY MERCH?
If an investor saves this company and keeps these jerkoffs on board then this shyt is just a lik (which I can respect but the gay ass crying online is crossing the line).
Street wear. Jfc.
Grip ur babynuts and plot an industry takeover like Nino Brown only to end up crying like G Money at the first sign of accountability, morally conflicted would-be corporate raider brehs.
