Fashion apparel and accessories retailer Vanity Shop has announced plans to close all 137 of its Vanity stores across 27 states, including one located in Vienna.
The closing down sale is being conducted by Tiger Capital Group, which provides asset valuation, advisory and disposition services.
Go deeper with GlobalData
Vanity filed a voluntary petition for Chapter 11 bankruptcy protection on 1 March prior to the announcement, in the US Bankruptcy Court for the District of North Dakota.
Tiger Group chief operating officer Michael McGrail said: “With roots stretching back to North Dakota in the late 1950s, Vanity is known for offering a wide selection of quality, affordable apparel, accessories and footwear targeted to fashion-conscious young females.
“During the sale, shoppers across the country will find deals starting at 10% to 30% off on Vanity’s expansive offering.
“The company’s difficult decision to close all stores is emblematic of the pressures facing mall-based specialty apparel retailers in the wake of ever-increasing competition from big-box ‘fast-fashion’ chains and e-commerce sites.”
Averaging 3,000ft² in size, the stores carry a wide range of apparel items, including coats, jackets, jeans, dresses, skirts and shorts.
Vanity has 13 stores in Minnesota, 12 in Iowa, nine each in Wisconsin and Ohio.
Tiger also plans to liquidate fixtures and equipment, as well as furniture, fixtures and equipment from the company’s stores and distribution centres.
Image: Vanity Shop of Grand Forks plans to close all of its Vanity stores. Photo: courtesy of Robert Linder/Freeimages.com.
