imogene + willie, the selvedge denim darlings of the Nashville instagram hipster set, seems to be having some problems with their finances. Investors accuse the Eddmensons of using company money to “support a lavish lifestyle of personal indulgence” rather than “developing a wholesale business”.
In court papers, Celia Hughes, Imogene + Willie’s former chief financial officer, said the company’s accounting books contained many “red flags.”…She cited a $10,000 motorcycle, spa trips and home renovations such as a new bath, doors, furnishings and window treatments as examples of the Eddmensons’ mismanagement of company funds.
Matt Eddmenson’s personal instagram does feature a lot of motorcycles, so who knows. Anyway, apparently the latest financial statements show “61 percent of Imogene + Willie’s roughly $224,000 in bills are 90 days past due” and Robert Lamey and Paige Heid, the largest creditors of the company, are trying to force the company into chapter 11 bankruptcy ”using an involuntary petition”.
So maybe pretty soon Jordana and Bleubird will have to find a new brand of status jeans run by a new hipster couple they can glom onto and instagram tag.