Is Matilda Jane going out of business? If you have a Matilda Jane Trunk Keeper, then you already know, the (formerly Fort Wayne-based) children’s clothing company announced in December 2022 that it can no longer stay in business. There were many now former Trunk Keepers who posted information on their Facebook pages that Long Beach, California-based clothing company, Cabi would possibly be purchasing Matilda Jane. The Cabi rescue plan did not come to fruition.
What Happened to Matilda Jane in 2023?
Cheeky Plum, a Houston, Texas-based online boutique purchased Matilda Jane and will launch a Matilda Jane line in Fall 2023. Cheeky Plum, a modest girls’ clothing line, calls the purchase a merge of Matilda Jane and Cheeky Plum. It appears that the Matilda Jane line will be a co-branded collection under the Cheeky Plum label. For now, we’ll have to wait and see!
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Why did Matilda Jane Go Out of Business?
One of my personal Trunk Keeper friends said that they were notified on December 7th that the company was cutting ties with their consultants and they would not be able to place orders after 5 pm Eastern on that same day.
Matilda Jane Clothing was founded in Fort Wayne, Indiana in 2005 by Denise DeMarchis. She created the clothing line to make clothing for girls and to create opportunities for philanthropy. In 2015, founder Denise DeMarchis died after a battle with Cancer. Denise’s philanthropic efforts have continued through the Might Acorn Foundation, a charity that helps children in Africa.
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Since 2020, the company has been led by Donna Noce Colaco. Donna relocated Matilda Jane Clothing Company operations to Fort Myers Florida in 2021. Matilda Jane Clothing employed nearly 50 people at their headquarters and over 2,000 independent contractors engaging in direct sales throughout the United States.
Matilda Jane consultants were issued an email from Donna Noce Colaco, CEO and Executive Chairwoman of Matilda Jane Clothing Company. The email says:
“A Note from Donna
To our valued Trunk Keepers,
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We are very sorry to have to notify you that as of today, December 7, 2022, at 5:00 p.m. Eastern Standard Time, the Company is winding down its business and terminating its relations with its trunk keepers. The Company has been experiencing financial difficulties and had been negotiating a sale of substantially all its assets to preserve jobs and the business. However, despite the Company’s extensive efforts, the sale has not materialized. In addition, the Company’s secured lender asserted a default under its loan agreement, and the Company is unable to borrow any additional money from the lender or any other financing source. As a result, the Company is left without the funds necessary to continue operating its business and has no choice but to sell any remaining assets and wind down.
December launch commissions will be paid on Monday, December 12, 2022. We are very saddened by this turn of events, and truly appreciated all your support over the years.”
There’s no additional news for now but we’ll update as information is available.
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