Yohji Going Broke?

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Now that titles a little misleading-I'm sure personally he'll never go broke,lol. But his self titled company, the powerful & respected Fashion House-Yohji Yamamoto Inc.; has filed for Bankruptcy in Japanese courts. The worldwide economic downturn has drastically affected the Fashion industry, and Japan is no exception. The Japanese are well known for their affinity of luxury brands-Louis Vuitton, Gucci, Versace, but it seems even these global giants are no match for simply being broker than you have been in years past.

The designer whose Adidas collaborative Y-3 brand is well known to Streetwear aficionados has sad that his company's debts outweigh their assets ($67 million USD); but through Japan's Corporate rehab law he will continue to work and operate the company both in Japan and overseas. It's crazy when you see these corporate giants that you would never imagine going broke filing Chapter 11 (or the French/German/Can-American equivalent). Kinda brings you into the real world, eh? It's like even the "Good Life" has to face real life sooner or later. Sad, i know :(

-S.DeBose via cnbc