March 26

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Karmaloop CEO Greg Selkoe Squashes Rumors

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Following recent reports and media presence relating to Karmaloop‘s bankruptcy issues, founder and CEO Greg Selkoe has taken upon social media to set the record straight. After having to filed for bankruptcy protection this past Monday for owing debt upwards to $100 million, Selkoe issued the following statement via an exclusive interview with Four Pins, “Karmaloop isn’t going anywhere. Also, those rumors about Damon Dash and Kanye West buying the brand aren’t happening either.” Yes, the company is going through a rough patch, but Selkoe is positive that Karmaloop will be back to its root – a time when the company was known for offering premium streetwear. The company will be going through a restructure and Selkoe will continue to be at the forefront of his business. There you have it, the rumors squashed. To read the complete interview, visit Four Pins.

March 25, 2015 / author: Elle / source and photos: Four PinsPeter Tannenbaum via Ny Post