The apparel retailer is amongst the latest clothing brand to file for Chapter 11 bankruptcy protection amid the ongoing impacts of the Coronavirus pandemic.
A news release announced that the Minneapolis-based company expects to close a significant portion, it not all, of its bricks and mortar store locations, and will be launching a store closing and liquidation process.
President and Chief Executive Officer, Keri Jones, commented: “Despite the tremendous advancements we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in the whole or in part to position the company for the future.”
The company will be actively discussing the sale of its online business and related assets with potential buyers.
