Sunday, August 9, 2020
Home World Fortunate Model recordsdata for chapter citing COVID-19, appears to promote firm to...

Fortunate Model recordsdata for chapter citing COVID-19, appears to promote firm to Aéropostale proprietor. Is your retailer closing?

Lucky Brand files for bankruptcy citing COVID-19, looks to sell company to Aéropostale owner. Is your store closing?

CLOSE

Democratic Presidential candidate Joe Biden says the newest jobs report shouldn’t be a ‘victory to be celebrated’ by President Donald Trump whereas the coronavirus pandemic is on the rise. (July 2)

AP Home

The coronavirus pandemic has led one other retailer to file for chapter.

Fortunate Model Dungarees LLC, which has about 200 Fortunate Model shops in North America and sells its merchandise in shops, introduced it had filed for Chapter 11 chapter safety Friday with plans to promote the equity-backed enterprise to the SPARC Group, operator of Aéropostale and Nautica.

The corporate additionally plans to shut at the least 13 shops in chapter, it mentioned in a information launch.

“The COVID-19 pandemic has severely impacted gross sales throughout all channels,” mentioned Matthew A. Kaness, interim CEO and govt chairman, in a press release. “Whereas we’re optimistic in regards to the reopening of shops and our clients’ return, the enterprise has but to get well absolutely.”

Save higher, spend higher:  Cash suggestions and recommendation delivered proper to your inbox. Join right here

The Los Angeles-based enterprise is owned by Leonard Inexperienced & Companions LP, which owes $182 million to lenders and $79 million to distributors, in response to courtroom information, which had been filed in U.S. Chapter Courtroom in Wilmington, Delaware.

Face masks necessities: Can shops make you put on a masks? Do youngsters need to put on masks?

COVID-19 cancellation: 7-Eleven’s Free Slurpee Day is canceled as a consequence of COVID-19, however here is the right way to get a free frozen drink

As many as 25,000 shops might shutter this 12 months as companies proceed to really feel the impacts of the pandemic, in response to a current report from Coresight Analysis.

COVID-19 has hit retailers who had been already in debt tougher than others and chapter filings have elevated because of the pandemic with J.C. Penney, Neiman Marcus, Tuesday Morning, GNC and J. Crew submitting for Chapter 11.

Different retailers, who have not filed for chapter, additionally plan to shutter places, together with Victoria’s Secret, Nordstrom and Signet Jewelers, mother or father firm of Kay, Zales and Jared.

Fortunate Model retailer closings 2020

The next shops had been listed within the chapter submitting as “preliminary closing shops.”

Arkansas Fortunate Model retailer closing

  • Little Rock: 11201 Bass Professional Parkway

California closing Fortunate Model shops

  • Arvin: 5701 Retailers at Tejon Ranch Parkway
  • Lengthy Seashore: 5267 2nd St.
  • Thousand Oaks: 350 W. Hillcrest Dr.

Connecticut Fortunate Model closing retailer

  • West Hartford: 1500 New Britain Ave.

Florida Fortunate Model retailer closures

  • Dania Seashore: 1763 Pointe Blvd.
  • Orlando: 4200 Conroy Rd.
  • Sarasota: 140 College City Heart Dr.

Illinois Fortunate Model closing retailer

  • Chicago: 520 N Michigan Ave.

Michigan Fortunate Model retailer closure

Mississippi Fortunate Model retailer closure

  • Ridgeland: 1000 Highland Colony Parkway

Nevada Fortunate Model closing retailer

  • Las Vegas: 1955 Competition Plaza Dr.

Puerto Rico Fortunate Model closure

  • San Juan: 1000 The Mall of San Juan Blvd.

Observe USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

Learn or Share this story: https://www.usatoday.com/story/cash/2020/07/03/covid-19-store-closings-lucky-brand-coronavirus-impact/5366437002/

LEAVE A REPLY

Please enter your comment!
Please enter your name here