The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
DALLAS, United States — Another plus-sized women's retailer will be closing its doors.
Avenue Stores LLC, owned by private-equity firm Versa Capital Management, has decided to shutter all 222 of its retail locations, Hilco Merchant Resources said in a statement announcing the closures. The company, which operates in 33 states, has hired Hilco and Gordon Brothers to oversee inventory sales.
Versa, Avenue, Gordon and Hilco didn’t reply to requests for comment. Calls to stores in New Jersey, New York and Florida directed Bloomberg to the corporate office in Rochelle Park, NJ, where calls weren’t answered.
Retail Dive and Dow Jones reported on the closures earlier.
ADVERTISEMENT
The specialty plus-sized apparel industry has been under pressure as online rivals like Amazon.com Inc. and big-box retailers from Walmart Inc. to Target Corp. increasingly compete in the space. Plus-sized women’s retailer Fullbeauty Brands Inc. filed for Chapter 11 earlier this year before winning court approval for its plan to restructure the company in less than 24 hours.
By Olivia Rockeman; editors: Crayton Harrison, Anne Riley Moffat and Jonathan Roeder.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.