Best & Co. files for bankruptcy

New York City Best & Co. filed for Chapter 7 bankruptcy protection Friday.

The upscale childrenswear maker, which had a flagship location in Greenwich, Conn., and a small shop within department store Bergdorf Goodman, cited assets of $1 million to $10 million and liabilities of the same amount.

Best & Co. was founded over 130 years ago as a posh store on Fifth Avenue and resurrected in 1997 as a small boutique in Greenwich.