November 18, 2016
Vintage Appeal: Nasty Gal founder Sophia Amoruso.
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APPAREL: Nasty Gal’s quick rise, growth end in bankruptcy.
The clock appears to have struck midnight for the Cinderella of tech. The nickname was given to Sophia Amoruso, the young founder of clothing retailer and manufacturer Nasty Gal in a 2013 New York Times article for her ability to seemingly turn cast-off vintage clothes into hundreds of millions of dollars – within six years of its founding the company’s sales hit a reported $100 million. This month, however, the magic ran out, as the company filed for bankruptcy protection, saying it didn’t have enough money to pay employees at the end of November.