Clothing Co. Dots Files For Ch. 11, Shutting 30 Stores

Law360, New York (January 21, 2014, 6:51 PM ET) -- Private equity-owned discount clothier Dots LLC filed for Chapter 11 protection in New Jersey bankruptcy court Monday, seeking to cut underperforming stores and exigent leases.

Dots seeks to close between 30 and 40 of its 400-some stores, according to court papers. The stores are concentrated in the eastern half of the U.S., often in strip malls, the company said.

But according to court papers, owner Irving Place Capital hopes to ultimately sell the company, which has faced headwinds recently.

“Dots’ financial difficulties have been exacerbated by...
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