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Colorful brand Oilily is one of the latest labels to file for bankruptcy, reports Crain's. The Dutch company's Madison Avenue store has been shuttered, and they're attempting to renegotiate the leases of their 25 other US shops. "Oilily, which launched here 15 years ago and sells clothing for babies, children and women, said it will not close its West Broadway outpost, which it leased three years ago. However, the retailer does owe money to 465 West Broadway Corp., the 3,200-square-foot SoHo location’s landlord, which is listed as an unsecured creditor in the filing." [Crain's]