According to CoinMeta, Peter Manning New York filed for Chapter 11 bankruptcy protection at the Southern District Court of New York on August 19, with debts of approximately $3.1 million. The men's clothing retailer is seeking court-supervised reorganization, while managing claims from major creditors and preparing to open new stores in Boston. As disclosed by the court, the company's assets are about $138,000, with debts exceeding 20 times the value of its assets. Despite facing financial pressures, Peter Manning still plans to operate stores in Manhattan and Washington D.C., and intends to open a new store in Boston in September.