Karmaloop court permits required company name change to KL Wind-Down

By Kali Hays

New York, June 22 – Karmaloop, Inc. received approval from the U.S. Bankruptcy Court for the District of Delaware to change the company’s name to KL Wind-Down, Inc. on June 22, according to an order.

As previously reported, the company’s purchase agreement with lender agent Comvest Capital II, LP for the sale of substantially all assets, including all Karmaloop trademarks, requires the change of the company name.

The company received court approval of the sale, which is comprised of a $13 million credit bid, along with the assumption of liabilities and payment of cure amounts, on May 21.

Karmaloop, a Boston-based cross-platform digital commerce and media property company specializing in the sale of global streetwear fashion and culture, filed for bankruptcy on March 24. The Chapter 11 case number is 15-10635.

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