Hilo Hattie, which has made a name for itself in Hawaii for decades selling aloha shirts and souvenirs, filed for Chapter 11 reorganization bankruptcy today.

The retailer, which has seven stores in Hawaii and two in California, was sold for an undisclosed price in May to a California company led by principal Ted Nelson, owner of Fantastic Sams hair salons in Hawaii.

As part of that sale, Nelson replaced John Reed as chief executive officer of Hilo Hattie. In today's filings, Hilo Hattie estimated both its assets and liabilities at between $10 million and $50 million. It said it had between 1,000 and 5,000 creditors.

The largest unsecured creditor is Maui Divers of Hawaii at $1.25 million. Some of Maui Divers' operations are in Hilo Hattie's stores.