“… To Forgive Divine Is At Your Discretion.

During these troubled times, it looks like no one’s Recession proof as Marc Ecko’s facing the possibility of bankruptcy.

Ecko has hired investment bank Peter J. Solomon to help refinance at least $170 million in debt owed to two key business partners, sources told The Post. With lenders scarce, sources say his empire may be dismantled as he sells off assets to pay creditors. Sources said Marc Ecko’s executives and bankers alike have been lobbing phone calls to rivals, trying to unload the company’s brands in exchange for cash. The dire scenario is a far cry from a few years ago, when Marc Ecko had entertained potential offers from Jones Apparel Group and Tommy Hilfiger. At one time, both firms were weighing bids for Marc Ecko in the $500 million range, according to one source.

Regardless of whether you have $10 in your bank account or $1,000,000 people can usually find a sliver of sympathy for the individual down on their luck. It’s a little harder to do Read the rest of this entry »