LOVELY QUEEN

LOVELY QUEEN (株式会社ラブリークィーン) was a Japanese company engaged in the planning, manufacture, and sale of ladies' formal wear. Founded in 1947 and incorporated in February 1964, it grew into one of the leading players in Japan's ladies' formal wear industry, at its peak recording annual sales of 17.6 billion yen and ranking third in the sector. The company built its reputation on formal dresses and related apparel sold through department stores and general merchandise channels. In September 2006, LOVELY QUEEN acquired the department store division operating rights of a failed competitor, strengthening its department store business. However, after the global financial crisis, the company faced declining personal consumption, intensifying competition, shrinking demand due to the aging population and low birth rate, and reduced sales to general supermarkets. It recorded net losses in the fiscal years ending May 2015 and May 2017, and was in a state of excess liabilities for three consecutive fiscal years from the fiscal year ending May 2015. As a restructuring measure, RVH announced support for LOVELY QUEEN on December 6, 2017. On January 23, 2018, a new company, also named LOVELY QUEEN Co., Ltd., was established through a company split to succeed the business. The business and real estate were transferred to the new company, which did not inherit interest-bearing debt. The old company resolved to dissolve on January 16, 2019, changed its name to ISO Co., Ltd., and received a special liquidation order from the Gifu District Court on August 7, 2019. The new company recorded sales of 5.133 billion yen in the fiscal year ending March 2019 but posted a net loss. The COVID-19 pandemic in 2020 caused May sales to fall to 70% of the previous year's level. RVH, which was proceeding with business reorganization, approached Jrout, headquartered in Chuo-ku, Osaka, in April 2020 to transfer all shares. On June 3, 2020, RVH transferred all shares of the new company to Jrout and waived its claims against the new company. Jrout conducted a financial investigation immediately after acquiring the shares and found that cash flow had deteriorated beyond expectations. As a result, the new company filed for bankruptcy with the Tokyo District Court on June 16, 2020, just 13 days after becoming a Jrout subsidiary, and received a bankruptcy commencement decision the same day. Total liabilities were approximately 4.5 billion yen for ISO (the first company) and approximately 600 million yen for LOVELY QUEEN Co., Ltd. ISO's legal personality was extinguished on June 24, 2020, and LOVELY QUEEN Co., Ltd.'s on May 17, 2021.

LOVELY QUEEN was founded in 1947 and incorporated as LOVELY QUEEN Co., Ltd. in February 1964. The company engaged in the planning, sale, and manufacture of ladies' formal wear, and thanks to its brand recognition held a high market share. At its peak, annual sales reached 17.6 billion yen, placing it third in the ladies' formal wear industry. In 1969, the company completed its head office building. In 1995, it completed a new fashion center in Motosu, Gifu Prefecture. In 2012, the head office building was rebuilt. In September 2006, LOVELY QUEEN acquired the department store division operating rights of a failed competitor, aiming to strengthen its department store business. However, after the Lehman Shock, the company faced a downturn in personal consumption, withdrew from the department store division, and encountered intensifying competition, declining demand due to the aging population and low birth rate, and shrinking sales to general supermarkets. As a result, it posted net losses in the fiscal years ending May 2015 and May 2017, and fell into excess liabilities for three consecutive fiscal years from the fiscal year ending May 2015. As a restructuring measure, RVH announced on December 6, 2017 that it would provide support to LOVELY QUEEN. On January 23, 2018, a new company, LOVELY QUEEN Co., Ltd., was established through a company split to succeed the business. The business and real estate were transferred to the new company, which did not inherit interest-bearing debt. The old company resolved to dissolve on January 16, 2019, and simultaneously changed its name to ISO Co., Ltd. On August 7, 2019, it received a special liquidation order from the Gifu District Court. The old company's legal personality was extinguished on June 24, 2020. The new company began operations on January 23, 2018, taking over all business from the old company. For the fiscal year ending March 2019, it recorded sales of 5.133 billion yen but posted a net loss. In 2020, the COVID-19 pandemic caused May sales to drop to 70% of the same month the previous year. RVH, which was proceeding with business reorganization, approached Jrout, headquartered in Chuo-ku, Osaka, in April 2020 to transfer all shares. On June 3, 2020, RVH transferred all shares of the new company to Jrout and simultaneously waived its claims against the new company. Jrout conducted a financial investigation immediately after acquiring the shares and found that cash flow had deteriorated beyond expectations. Consequently, the new company filed for bankruptcy with the Tokyo District Court on June 16, 2020, just 13 days after becoming a Jrout subsidiary, and received a bankruptcy commencement decision the same day. The new company's legal personality was extinguished on May 17, 2021. Total liabilities were approximately 4.5 billion yen for ISO (the first company) and approximately 600 million yen for LOVELY QUEEN Co., Ltd.

• 2021

  New company's legal personality extinguished on May 17.

• 2020

  RVH transferred all shares to Jrout on June 3; new company filed for bankruptcy on June 16; ISO's legal personality extinguished on June 24.

• 2019

  Old company dissolved and renamed ISO on January 16; special liquidation ordered on August 7.

• 2018

  New company established through company split on January 23; business transferred.

• 2017

  RVH announced support on December 6; net loss for fiscal year ending May.

• 2015

  Recorded net loss for fiscal year ending May; entered excess liabilities for three consecutive years.

• 2012

  Head office building rebuilt.

• 2006

  Acquired the department store division operating rights of a failed competitor in September.

• 1995

  New fashion center completed in Motosu, Gifu Prefecture.

• 1969

  Head office building completed.

• 1964

  Incorporated as LOVELY QUEEN Co., Ltd. in February.

• 1947

  Founded.

Mid-to-high-end ladies' formal wear sold through department stores and general merchandise channels; at its peak, the third-largest player in the Japanese ladies' formal wear industry.

• Ladies' formal wear

• Formal dresses

1. 1ラブリークィーン - Wikipediaja.wikipedia.org
2. 2LOVELY QUEEN - Wikidatawikidata.org