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The Tannery Files for Chapter 7 Bankruptcy

Boston-based shoe and apparel company, The Tannery, filed for Chapter 7 bankruptcy in a Boston federal court.

In June, the Boylston St. location of the Nader Corp. and Alana Inc.-owned company, listed that it had around 50-99 creditors that owed a total between $1 million and $10 million, as well as assets between zero and $50,000, according to a Boston Herald report.

The creditors included companies like Adidas AG, Clark, Colliers International N.E. LLC and Dolce & Gabbanna USA Inc.

The iconic 40-year-old company closed its Cambridge location last year, and denies whispers that the store might be going out of business, according to the Herald.

The bankruptcy trustee for both cases requested court approval to sell the shoe and boot inventory to the Tannery outlet store at a public auction. If approved, the sale would take place July 27 at the store’s Boylston location according to court filings.

The Tannery has yet to release an official statement.