Irvine apparel maker nZania LLC has shut down.
The company, which had licensed or produced clothes under the brands Black Flys, Andy Warhol by Levi’s, Disney and others, closed after a bank withdrew a credit line in September amid the financial meltdown.
NZania was unable to secure new financing, according to owner and apparel industry veteran Ivan Spiers.
Spiers, known for turning around struggling clothing brands, had planned to shed poor performing lines and revive nZania. But he couldn’t do so without financing.
He called it “a sad story.”
The company was estimated to have yearly sales of more than $300 million.
NZania has left its Irvine headquarters near John Wayne Airport, where San Clemente-based Silver Star Casting Co. has signed on to lease the space.
Spiers said “his friends” at Silver Star are using screen presses left by nZania in the 93,000-square-foot space.
Known for its edgy designs worn by mixed martial arts fighters, Silver Star outgrew its 12,000-square-foot San Clemente site after more than doubling sales each year since 2004.
For more on this story, read the April 20 issue of the Business Journal.
