Say it isn’t so: Our favorite retailer of slutty going out clothes, Nasty Gal, just filed for chapter 11 bankruptcy. What does that mean for betchy businesswoman Sophia Amoruso? What does this mean for the store? And most importantly, what does this mean for our wardrobes and our online shopping addictions?
Now this is a story all about how her life got flipped turned upside down, so let me take a minute, just sit right there, and I’ll tell you how Sophia Amoruso just lost her entire $280 million fortune.
According to Forbes and a statement they secured from the CEO of Nasty Gal, Sheree Waterson (who used to work for other betchy brand Lululemon), “the startup has been unable to secure capital or a buyer as the gap between top-line growth and profitability widened.” So basically they’re making clothes faster than they can sell them and that’s bad because they’re losing more money than they’re making. I should’ve studied economics instead of English. I’m a genius. You’re welcome.
This bankruptcy knocks Amoruso off Forbes’ list of Richest Self-Made Women due to her majority stake in Nasty Gal and it also costs her her job. She’s expected to resign from the Nasty Gal board, even as its executive chairperson. Despite the setback, Sophia has a hand in a bunch of new projects and probably still has millions (#pocketchange) available to her. She’s also handed the reigns to the new CEO and hopefully our love for clothing that barely covers our skin will be alive and well in time for summer. Let’s consider it a hibernation for cuffing season instead of a nail in the company’s coffin.
Even though Nasty Gal is expected to stay in business, we’re not exactly known for staying calm in times of crises (like this one), so we’re going to go ahead and treat this as if the world is ending. Here are a few things you should buy from Nasty Gal while you still can:
Slip dresses are super on-trend right now.
Everyone and their mom is into chokers, so why not get a gigantic one that takes up your entire fucking neck?
If you don’t want no scrubs, this is the shirt for you. Not sure if wearing it will get you sued by Beyoncé, but like, how many of us would actually mind that?
It’s about to be cold af out, but that doesn’t mean you can’t still dress like a slut and still be (kind of) warm.
For when you want to look like you just rolled straight out of bed into the club, this jumpsuit is the one.