Rudderless leadership finally crashes Japanese clothier Renown

TOKYO -- Japanese apparel maker Renown's bankruptcy filing to the Tokyo District Court last week was actually prepared by a subsidiary because of disarray among the parent's management, according to people familiar with the matter.

Renown Agency, a unit operating as an insurance marketing agency, filed the application for court protection from creditors on Friday. The court approved the application the same day, a release from Tokyo Databank said.