The end of 2014 and beginning of 2015 have not been kind to teen-oriented retailers. Back in December, we learned that dELiA*s was bANkruPt and starting to liQuid8 its inventory. This week, Wet Seal announced that it will close two-thirds of its stores. Now another mall staple is putting down the store gate for good: Deb is liquidating and closing all 295 of its stores.
You know, Deb. That store where you tried on a bunch of prom dresses but ultimately didn’t buy any of them. Or maybe that was me. The chain was still in existence and almost 300 stores strong, but sought Chapter 11 bankruptcy protection at the end of 2014. Without a buyer, the company will close all of its stores and liquidate.
Unfortunately, if you’re looking for hot deals on leggings and platform boots or whatever the kids are wearing this week, the liquidation sale doesn’t hold much promise. In the company’s bankruptcy auction yesterday, Hilco Merchant Resources and Gordon Brothers Retail Partners agreed to buy and liquidate the chain’s inventory and fixtures. You may not recognize those names, but you should. Those companies have handled many liquidation sales in recent years, including the end CompUSA, Circuit City, Linens-N-Things, Borders, Hollywood Video, Coldwater Creek, end every other store closing you’ve seen where prices weren’t even reasonable until a few weeks into the liquidation sale.
Liquidators To Run Final Sales At Teen Fashion Retailer Deb Shops [Wall Street Journal]
by Laura Northrup via Consumerist
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