A few months ago, in certain circles, it seemed like you couldn't go anywhere without catching some of the buzz about sixteen year old Russian fashion designer Kira Plastinina who, after making an absurdly massive splash in her own country, was coming over to America to strike gold here. Now it looks as though the party might be over for the teen, as her US operations have just filed for bankruptcy, shut down most of their stores, and scraped their plans to open hundreds of new locations across the country. Now the only thing left of the once-hyped company is to figure out a way to pay back the millions it owes to its creditors through bankruptcy, so Plastinina can hop a jet and run back to those warm Russian winters. Here's a bit:

Los Angeles-based KP Fashion Co. filed for Chapter 7 bankruptcy Wednesday in New York, and at least four of the six branches in Southern California shut their doors in the last two weeks. At least three other stores around the country have already closed, according to the shopping centers where they were based.

The chain had plans to open 250 stores in the U.S., executives told The Times in May. Now, the chain's website is advertising 75% discounts on all merchandise.

More information availabe here on Bloomberg.