PHENOMENON & SWAGGER Designer Takeshi Osumi aka Big-O Files for Bankruptcy Protection

According to Empire Data Bank of Japan, Japanese fashion brand PHENOMENON and SWAGGER designer Takeshi Osumi has filed bankruptcy protection for both himself and the brands. Despite ¥1.3 billion JPY worth of sales since 2007 (approximately $10.8 million USD), sources point to rising costs for shipping as well as cash-flow deterioration as reasons for filing. As it stands, both brands are currently in ¥47 million JPY-worth of debt (approximately $508,000 USD) as of this reporting.