Popular watchmaker known for its lifestyle watches and accessories filed for bankruptcy in a U.S. court in Texas on October 20. The Chapter 15 filing asks U.S. courts to recognize Fossil’s ongoing UK restructuring as a foreign bankruptcy case.
Fossil Files for Chapter 15 Bankruptcy Amid UK Restructuring
According to PacerMonitor, Fossil (UK) Global Services Ltd. filed for Chapter 15 bankruptcy on October 20. The case, represented by Clifford William Carlson from Weil Gotshal & Manges, was filed at Texas Southern Bankruptcy Court under the case no. 4:25-bk-90525.
Fossil, a Texas-based company, was founded by Tom Kartsotis in 1984 and specializes in lifestyle accessories and premium watchmaking. Over the past 40 years, Fossil has grown into an international brand, offering watches, jewelry, handbags, and other leather goods.
On October 20, Fossil paid a $1,738 filing fee and submitted a petition under Chapter 15, asking U.S. courts to recognize its UK bankruptcy proceedings.
Overview of Fossil’s U.S. Bankruptcy Case
Fossil’s legal team filed several supporting and procedural documents, including requests for four attorneys to appear on the case, on October 21. For each attorney, Gary T. Holtzer, Sunny Singh, Jessica Liou, and Clifford Carlson, debtor Fossil (UK) Global Services Ltd paid $100.
The filings included declarations confirming Fossil’s foreign representative and outlining the UK restructuring and related relief under Chapter 15. Gemma Sage also filed a declaration supporting the petition, attaching key UK documents, including the practice statement letter, explanatory statements, and convening order.
Initially, the case was assigned to Judge Alfredo R. Perez, but later, following a recusal order, it was reassigned to Judge Christopher M. Lopez. The company also filed an emergency motion and, in return, received a ‘complex case’ designation. The court’s designation highlights the case’s cross-border complexity and its impact on both U.S. and UK operations.
Furthermore, Fossil’s case administrator, Epiq Corporate Restructuring, has filed proof that all required notices were sent to the relevant parties.
Through the Chapter 15 filing, Fossil is protecting its U.S. assets while its UK restructuring continues.
