Renowned children's clothing brand EPK is liquidating: its managing company announces lawsuit over multimillion-dollar debts.

The Superintendency of Companies confirmed that the children's clothing store Akmios, known as EPK, has entered liquidation due to its multimillion-dollar debts, which total 174.304 billion pesos.

"Given the impossibility of overcoming the financial difficulties, the company unanimously decided not to continue with the reorganization process, which is why it requested the bankruptcy judge to open the liquidation process ," the Superintendency of Companies stated.

Akmios is a company founded in 2005 with the purpose of marketing clothing, mainly in the children's category.

According to the latest financial statements reported as of December 31, 2023, it had assets of 70.673 billion pesos and liabilities of 174.304 billion pesos.

"The company resorted to legal insolvency proceedings after exhausting its recovery efforts," said Superintendent of Companies Billy Escobar.

Bridgewood Capital INC and businessman Samuel Tcherassi have been facing a legal dispute over the children's clothing brand for a year.

"The trademark dispute has been complicated. There are all kinds of stories about us winning, losing, and having it given back and then taken away. The reality is that we won a major lawsuit against Bridgewood Capital over the three-letter EPK logo," said businessman Tcherassi in an interview with EL TIEMPO a year ago.