Tory and ex-husband Chris Burch have had a rough couple of years, what with his new company C. Wonder and public falling outs. But the War of the Burches isn’t over, and now Chris is suing Tory and her company for allegedly messing with his own business.
Burch, JCB Investments, and C. Wonder LLC filed a six-count suit against Tory, Tory Burch LLC, the company’s board members, and Isla Capital, a subsidiary of a private equity firm with a stake in the company. WWD reports that Chris is claiming Tory “interfered in multiple ways” with his new brand and that she has “hijacked the bidding process” of the sale of his stake in the company.
Chris currently owns 28.3 percent of Tory’s company, which is equal to her ownership. Burch alleges that before he can reach an agreement with any buyer regarding his stake in Tory’s company, he must reach a “one-sided and onerous” accord with Tory herself and that this has slowed down the selling process.
He also brought to court a copy of the company’s limited liability company agreement which states that directors and members are allowed to have a hand in other businesses that are seen as competitors to Tory’s. On several occasions, he has publicly declared that his company is not modeled after Tory’s, and Chris has decreased the prices on his products “so that she would cease interfering with the sale process.”
In addition to the blasting the corporate side of his ex-wife, Chris also takes the opportunity to personally slam her, saying that her background is in public relations and apparel marketing, not design. According to WWD, “Ms. Burch, while talented, [did] not have the core business experience necessary to assemble a team of top executives.”
Burch is asking for an unspecified sum, a court order that allows him to take on other business ventures, the removal of Tory and individual board members, and the appointment of new ones.
Your move, Tory.