Fashion brand London Fog is asking for bankruptcy court backing to pay executives up to US$470,000, Dow Jones reported.

The company wants to reward president David Didio's and chief designer James Thomas's efforts to turn around the fortunes of the brand, the report said.

London Fog claims there is a clear correlation between Didio's and Thomas's endeavours to sell the company and its final sale price.

The proposed bonuses would be equal to the pair's monthly salaries according to sale proceeds.