Fossil, the major men’s and women’s fashion accessories retailer, is filing for Chapter 15 bankruptcy, citing recent U.S. tariffs and tech rivals as factors harming its business.

The United Kingdom-based company filed its Chapter 15 bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of Texas in Houston, Texas on Oct. 20, court documents show.

The petition was filed after Fossil proposed a restructuring plan in the High Court of Justice Business and Property Courts of England and Wales on Oct. 9.

The core of the UK plan is to restructure $150 million in unsecured notes (held by the Bank of New York Mellon N.A. as trustee) and refinance an asset-based revolving credit facility with JPMorgan Chase Bank N.A., the court records say.

The restructuring plan would also

See Full Page