Report: Wilsons Closing Up Shop

New York City The clothing company formerly known as Wilsons The Leather Experts Inc., is going out of business, according to a report by Bernard Sands, a New York City-based credit-ratings and service company.

Wilsons, which sold its name, 116 outlet stores and its retail Web site to a subsidiary of G-III Apparel Group Ltd. in July, is now known as PreVu Inc.

PreVu had plans to focus on its "Studio" mall accessories-store concept, but it said in a filing with securities regulators that it couldn't obtain capital or other financing needed to continue operations.

PreVu expects to fully liquidate its assets by the end of October.