Dutch clothing maker Vilenzo International NV has filed for Chapter 11 bankruptcy protection with a Dutch court failing to secure a refinancing deal.

In a statement, the company said: "At this moment there are insufficient prospects for the continuity of Vilenzo. Therefore it has been decided to seek protection from creditors."

The clothing group lost €14.3 million euros in the first half of 2004 and has said it expected a considerable full-year loss.

Several potential investors have said they could be interested in acquiring parts of the company should it go bankrupt.