Modern Vice’s boots are made for walking. Come next week, they’ll be walking to the bankruptcy auction block.
The Manhattan-based shoemaker’s assets are up for sale as part of owner Adoni Group’s Chapter 11 case, court papers show. That includes the brand’s intellectual property, inventory, social media sites, equipment and lease to its Garment District factory.
The maker of rocker-inspired boots (styles are named Jett, Debbie and Bowie) for women and men’s velvet loafers has drawn attention for its styles and efforts to bring shoe-making back to the U.S. from the likes of BET, Elle, Inc. and MTV.
Standing ready to bid on the assets is a company tied to Jordan Adoni, one of the brothers who are the creative force behind Modern Vice. He’s offering $180,000, plus rent, which bankruptcy lawyers are looking to put to the test at a Monday auction.