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Thomas Kinkade Files Chapter 11

12/10/10

National Public Radio reported last week about the “dark times” that are befalling widely popular Christian painter Thomas Kinkade. Kinkade’s company filed for bankruptcy this past June amid allegations of fraud against him from gallery owners, and the NPR report said he plans to return to court soon to file a reorganization plan. COO of The Kinkade Company Frank Turrell said the company is changing strategies, including new partnerships with Disney, Warner Brothers, and QVC and increasing products available directly to consumers. “What’s compelling about this brand is, over the course of time, about 25 million people have purchased a Kinkade product,” said Turrell. “There’s an enormous demand out there for Tom’s products.” Some estimates say Kinkade’s work appears in 1 out of 20 U.S. homes.