Nasty Gal, the US-based young fashion etailer founded by entrepreneur Sophia Amoruso, is to file for Chapter 11 bankruptcy to enable it to financially restructure the business.

As a result it is believed that Amoruso, who founded the business 10 years ago at the age of 22, will step down from the board along with Danny Rimer from backers Index Ventures.

Nasty Gal has had a tough year and Amoruso, who is currently on a speaking tour in Australia, had already been forced to cede the role of CEO. The business was one of the darlings of the new generations of dotcoms to emerge in the early 2000s.

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Nasty Gal in 'fashion & accessories'