Two weeks ago, fashion designer David Peck was sharing photos of jewelry designer Jill Reno attending the Emmy Awards in a gorgeously draped pale blue gown of his design. It was a big moment for Peck, who launched his first line, CrOp by David Peck, after moving to Houston in 2010 and spent the next five years raising his profile as one of the biggest design talents in town, dressing everyone from celebrities like Taylor Swift and Mayim Bialik to the well-styled employees at the J.W. Marriott Houston Downtown.
Just days later, on Sept. 24, Peck's company, David Peck LLC, filed for Chapter 7 bankruptcy. According to court documents, his business has over $1.7 million in debts (including unpaid sales and other taxes) and $97,000 in assets.
The bankruptcy filing follows a lawsuit against Peck and his company by AVG Holdings, a private investment firm based in Baton Rouge, claiming that Peck is in breach of contract and owes nearly $2 million on a loan dating back to 2011, provided in exchange for 80 percent equity in the company.
In 2011, Peck opened a production factory in Montrose, producing his own line as well as pieces for other brands, expanding to add a showroom and retail space in 2014. That store is now closed—landlord Define Properties executed a lien over unpaid rent in June, according to the bankruptcy filing—and the David Peck USA website has gone offline. We'll see how it all pans out. The designer told CultureMap that he plans to move forward in Houston.
"I'm still working hard and working on what's next," Peck told the website. "Like any business you go through crossroads. In order to take it to the next level, I have to make changes. I can say with 100 percent certainty that I'm not leaving Houston."