Rock & Republic Keeps L.A. Flagship Store
Rock & Republic, the Los Angeles premium-denim maker that filed for Chapter 11 bankruptcy protection in April, will be able to stay in its high-end flagship location on South Robertson Boulevard under the terms of its current lease.
Judge Arthur Gonzalez of the U.S. Bankruptcy Court in New York granted the motion, requested by Rock & Republic, on Nov. 3.
Rock & Republic had been fighting to keep its current lease for the tony store, which opened last year at 103 S. Robertson Blvd.
The troubled blue-jeans maker was able to stay at that location because it doesn’t owe any back rent and the landlord, 101 South Robertson LLC, holds a $184,500 security deposit, according to court documents. The monthly rent is $41,200.
Rock & Republic also will keep its lease for the contiguous property at 105 S. Robertson Blvd., owned by the same landlord. Monthly rent for that property is $33,948.80.
Meanwhile, the bankrupt company is in court fighting to get out of leases for stores it never occupied on Rodeo Drive in Beverly Hills and in SoHo in Manhattan.
In September, Rock & Republic signed a non-binding letter of intent with GR Acquisition LLC of New York, a newly formed entity of Bluestar Alliance, to acquire certain assets for $33 million to $48 million. Those assets include licensing agreements and all the worldwide rights to most of the company’s brands, including Rock & Republic, Rock Is King, Live to Rock, Rock the Cure, Rock Racing and Rock Studios. GR will then negotiate with Rock & Republic for the right to use those licenses, court papers showed.—Deborah Belgum
