store closings

New York City — Saks Global Enterprises LLC, a leading multi-brand luxury retailer, is advancing its planned optimization across its store portfolio by announcing the closure of an additional 12 Saks Fifth Avenue and 3 Neiman Marcus locations. This builds on initial closures announced last month. “This strategic optimization is part of our ongoing transformation and rooted in our long term view of our business,” says Geoffroy van Raemdonck, chief executive officer of Saks Global. “Our go-forward store portfolio will comprise the best performing and most desirable locations in markets …

New York City — Saks Global Enterprises LLC, a leading luxury retail company, is underway on an initial phase of optimization across its Saks Fifth Avenue and Neiman Marcus store footprint, which will include nine store closings. There are no changes to the Bergdorf Goodman operational footprint. “We are initiating a series of actions to reinforce Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman as the ultimate destinations for luxury with a seamless multi-channel shopping experience,” says Geoffroy van Raemdonck, chief executive officer of Saks Global. “By optimizing our operational …

Bellevue, Wash. — Eddie Bauer LLC, operator of Eddie Bauer stores in the United States and Canada and a licensee of the Eddie Bauer brand, has entered into a Restructuring Support Agreement (RSA) with its secured lenders and commenced voluntary Chapter 11 cases in the United States Bankruptcy Court for the District of New Jersey. The RSA is designed to enable Eddie Bauer to move through the process as quickly and efficiently as possible. Through the RSA and the Chapter 11 proceedings, Eddie Bauer will conduct liquidation sales at its …

Houston — francesca’s®, a specialty retail brand known for its distinctive boutique-style experience, has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey. The filing is intended to facilitate a court-supervised process to maximize value for stakeholders. Tiger Group, SB360 Capital Partners and GA Group, acting as advisors to francesca’s, have commenced court-approved store closing sales across the company’s entire store fleet as part of the Chapter 11 process. “Shoppers will find discounts of 25% to …

Columbus, Ohio — American Signature, Inc. (ASI), one of the nation’s leading home furnishings retailers and the parent company of Value City Furniture and American Signature Furniture, has filed voluntary petitions for chapter 11 relief in the United States Bankruptcy Court for the District of Delaware. ASI expects to enter into a stalking horse asset purchase agreement with ASI Purchaser LLC under which, subject to court approval, ASI Purchaser LLC will acquire substantially all of the company’s assets and assume certain related liabilities. Value City Furniture and American Signature Furniture …