Avenue Stores Hits Ch. 11 With Plans To Close All Locations
Law360 (August 16, 2019, 6:13 PM EDT) -- Women's plus-size clothing retailer Avenue Stores LLC and three affiliates opened a Chapter 11 case in Delaware late Friday with more than $78 million in debt and plans already in motion to close all 222 of their stores in 33 states by the end of September.
The shutdowns are part of a broader wind-down plan and going-concern sale that includes an effort to sell Avenue's e-commerce business, remaining inventory and intellectual property, the company said.
Avenue said in its initial disclosures that it had “recently suffered operational losses stemming from, among other things, onerous lease obligations, underperforming retail locations, and the...
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