Sportswear brand K9 Sport has filed for bankruptcy, reports The Wall Street Journal

K9 Sports is in talks with bankruptcy court to restructure its debt, the Wall Street Post reports.

The news comes a day after the company filed for Chapter 11 bankruptcy protection, citing “financial difficulties” and “irreparable harm.”

The company was valued at $3.5 billion in 2012, according to its website.

The company is seeking to restructurant the business through an array of creditors, including hedge funds, private equity firms, and a host of other companies, the Post reports, citing two people familiar with the situation.

K9, which launched in 2013, owns and operates several brands, including K9 Paws, K9 Pets, K7 Paws and K9 Shorthair.

The brand is a product of the company’s founder and namesake, James Petrie, who founded the company in 2013.

K8 Paws is the official name of the K9 breed, a breed of dog with a short, stocky build, which has a strong nose for treats.

The name K9 sports is a reference to the iconic American sports team the Chicago Bears, and the sports dog is a symbol of toughness and competitive spirit.