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Need Supply Co. Files for Bankruptcy After Years of Too Much Supply, Not Enough Need

RICHMOND, Va. — Local clothing and accessory boutique Need Supply Co. has filed for Chapter 11 bankruptcy according to a press release issued Monday morning. The high-end fashion retailer made the decision after years of back-to-back quarterly losses caused by too much supply and not enough need. “We’ve been trying to make it work for years but we just reached the end of our runway,” commented founder and CEO Jason Marsh. “It’s been an amazing run but we just misread the market. We should never have offered so much supply.” According to Callie Dawn, Need’s head of merchandising, the retailer could be spared if the store sold just three of its $150 t-shirts. “Back of the envelope math, we either sell a few shirts or, like, one of those shoes and we’re in the black,” added Dawn, gesturing towards a $400 pair of white Common Projects sneakers. “We don’t even have to sell both, just one shoe and Need is solvent.”

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