US-based men’s apparel retail chain Bachrach is planning to close 14 stores and its e-commerce platform in the country.
Established in 1877, Bachrach is said to be one of the oldest retail chain in the US.
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The closures are underway at malls and other retail properties located in eight states, including Texas, Indiana and Illinois.
Bachrach is said to have operated 32 retail stores in the Midwest.
The retail firm had briefly emerged from bankruptcy after an earlier round of store closures, but filed for Chapter 11 in California Central Bankruptcy Court for the second time on 16 February.
New York-based financial services provider Tiger Group and Great American Group will be carrying out the liquidations on behalf of the retailer’s creditors.
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By GlobalDataGreat American Group unit GA Retail Solutions president Scott Carpenter said: “Its loyal clientele associates the name not only with menswear of exceptional quality and style, but also with highly-trained salespeople who are adept at helping them look their best.
“You walk into Bachrach and they put together an entire outfit for you, right down to the tie pin and the pocket square.”
GA Retail Solutions helps clients to liquidate and realise immediate returns from their underperforming assets or excess inventories.
Carpenter added: “Margins in the menswear sector have been shrinking due to declining foot traffic at malls, stiff competition from e-commerce retailers and significant shifts in consumer spending patterns.
“Unfortunately, Bachrach’s store locations were unable to survive these competitive pressures, despite its strengths, such as high-quality merchandise and customer service.”
