Chicago-based Olly's Retail U.S.A., the parent company of women's and children's apparel retailer, Oilily, filed bankruptcy on May 28, 2009. The upscale retailer, known for its eclectic fashions featuring vibrant colors and bold designs for both mom and child, listed assets between $1 million and $10 million and liabilities between $10 million and $50 million in its filing.