Rock & Republic Hires New Top Exec
Rock & Republic, the financially strapped Los Angeles denim company that filed for Chapter 11 bankruptcy protection on April 1, has hired denim specialist Rick Spielberg as its new chief operating officer.
Spielberg has headed a number of up-and-coming denim companies over the past decade. His most recent post, which he took last October, was as president of Dylan George, a relatively young Los Angeles denim label founded in 2008 by Danny Guez, whose father is blue-jeans patriarch Paul Guez, founder of the Sasson jean label in the 1970s.
Spielberg left his Dylan George position on May 7 and joined Rock & Republic on May 17. He will be working to help bring Rock & Republic out of bankruptcy and grow the company.
In its bankruptcy filing, the 8-year-old Rock & Republic said it had assets of $68.4 million and liabilities of $35.7 million. Its biggest secured creditor is Richard Koral, who loaned Rock & Republic $15 million with the company’s brand name put up as collateral. Court documents state that when Rock & Republic was unable to repay the $15 million loan, which was due April 2, the company had to file for bankruptcy protection.
Koral also has the exclusive distribution agreement for all of Rock & Republic’s off-priced and close-out apparel.
Before joining Dylan George, Spielberg worked at Hudson Clothing Co. for four years as a vice president. Prior to Hudson, he was president of Blue Holdings, founded by Paul Guez. Blue Holdings labels included Antik Denim and Taverniti So.—Deborah Belgum
