The COVID-19 pandemic has pushed yet another well-known company into filing for bankruptcy—Lucky Brand Dungarees LLC, according to USA Today. The company, which currently has about 200 Lucky Brand stores in North America as well as merchandise in various department stores, announced that it has filed for Chapter 11 bankruptcy protection and has plans to “sell the equity-backed business to the SPARC Group,” which operates Aéropostale and Nautica. The company also announced that it will be closing at least 13 of its stores as a result of the filing.
Here is a list of the Lucky Brand stores that are scheduled to close:
- Little Rock, Arkansas, located at 11201 Bass Pro Parkway
- Arvin, California, located at 5701 Outlets at Tejon Ranch Parkway
- Long Beach, California, located at 5267 2nd Street
- Thousand Oaks, California, located at 350 W. Hillcrest Drive
- West Hartford, Connecticut, located at 1500 New Britain Avenue
- Dania Beach, Florida, located at 1763 Pointe Blvd.
- Orlando, Florida, located at 4200 Conroy Road
- Sarasota, Florida, located at 140 University Town Center Drive
- Chicago, Illinois, located at 520 N Michigan Avenue
- Troy, Michigan, located at 2800 Big Beaver
- Ridgeland, Mississippi, located at 1000 Highland Colony Parkway
- Las Vegas, Nevada, located at 1955 Festival Plaza Drive
- San Juan, Puerto Rico, located at 1000 The Mall of San Juan Blvd.
Interim CEO and executive chairman of the company, Matthew A. Kaness, issued this statement in regard to the recent filing, “The COVID-19 pandemic has severely impacted sales across all channels. While we are optimistic about the reopening of stores and our customers’ return, the business has yet to recover fully.” USA Today cited that the company behind the brand, Leonard Green & Partners LP, currently owes $182 million to lenders and $79 million to vendors.”
Lucky Brand isn’t the only retailer to file for bankruptcy amid the COVID-19 pandemic. In fact, JCPenney, Neiman Marcus, Tuesday Morning, GNC, and J. Crew are some of the other companies that have recently filed for Chapter 11 bankruptcy. USA Today says that other retailers like Victoria’s Secret and Nordstrom that haven’t filed for bankruptcy have plans to shutter some of their locations.
Do you own a business in Tulsa, OK that has accrued a significant amount of debt?
Are you considering filing for bankruptcy?
If so, the Tulsa, OK bankruptcy lawyers at the Henson Law Firm, PLLC would be happy to sit down with you to determine if you would be a suitable candidate for bankruptcy. Before assuming bankruptcy is the best course of action to take in order to get your debt under control, it is best that you discuss filing with a legal professional who has extensive experience in bankruptcy law. If you are ready to learn more about filing for a Chapter 7 or 11 bankruptcy in Oklahoma, contact the Henson Law Firm, PLLC today.
The Henson Law Firm, PLLC is located at:
601 S. Boulder, Suite 600
Tulsa, OK 74119
*We are a debt relief law firm in Tulsa, Oklahoma.
*We help people file for bankruptcy relief under the Bankruptcy Code.