Fashion

Plus-size womenswear retailer Avenue files for bankruptcy protection


New York – Plus-size womenswear retailer the Avenue announced earlier
this month it will close its 222 stores nationwide.

As explained in a corporate release issued by the retailer’s designated
liquidation advisers – Hilco Merchant Resources – the fashion company will
shut all its stores across 33 states. Hilco is managing the liquidation
with Gordon Brothers.

Avenue Stores, LLC, filed for Chapter 11 bankruptcy protection for the
second time as back to2012, according to court records. In 2012, Versa
Capital Management, a private equity company, acquired the retailer in a
bankruptcy auction. At the time, there were 433 Avenue locations.

“Avenue shoppers will be amazed not only by the incredible savings, but
also by the great selections and styles available at the closing sale,” the
company advanced in a press release. “Given the popularity of the brand and
the seasonal trends, merchandise is sure to sell out quickly. We are
encouraging consumers to shop early and take advantage of these offers.”



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.