Lucky Brand Closing 13 Stores After Filing Bankruptcy

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Lucky Brand has over 200 stores in North America, but will be closing 13 of those locations after filing for bankruptcy. Lucky Brand apparel is only sold at a few select retailers including Lucky Brand stores and Macy’s, to name a few.

According to a Lucky Brand spokesperson, the bankruptcy will “reduce its debt burden caused by recent challenges.”

Bankruptcy Filing

Lucky Brand is positioning itself for an upcoming sell to the SPARC Group – which also operates Aeropostale and Nautica. The Lucky Brand spokesperson noted that the bankruptcy filing is to “facilitate the sale.”

Lucky Brand has been in business for 30 years, but currently has millions of dollars in outstanding debts owed to lenders. Interim CEO Matthew A. Kaness said in a statement,

“The COVID-19 pandemic has severely impacted sales across all channels,” going on to add, “While we are optimistic about the reopening of stores and our customers’ return, the business has yet to recover fully.”

Like many retailers during the pandemic, filing for bankruptcy is a way to ensure future business operations and reduce debt. Kaness backed the businesses’ decision, stating,

“After considering all options, the Board has determined that a Chapter 11 filing is the best course of action to optimize the operations and secure the brand’s long-term success.”

Store Closures

The initial list of closures includes 13 Lucky Brand retail locations in North America, including one in Puerto Rico. The bankruptcy filing indicates these 13 stores will close pending the bankruptcy proceedings:

Arkansas:

  • Outlets Little Rock, 11201 Bass Pro Pkwy, Little Rock

California:

  • The Oaks Mall, 350 West Hillcrest Dr., Thousand Oaks
  • 5267 2nd St., Long Beach
  • Outlets of Tejon, 5701 Outlets at Tejon Ranch Pkwy, Arvin

Connecticut:

  • Westfarms Mall, 1500 New Britain Ave., West Hartford

Florida:

  • The Mall at Millenia, 4200 Conroy Rd., Orlando
  • The Mall at University Town Center, 140 University Town Center Dr., Sarasota
  • Dania Pointe, 1763 Pointe Blvd., Dania Beach

Illinois:

  • The Shops at North Bridge, 520 North Michigan Ave., Chicago

Michigan:

  • Somerset Collection, 2800 Big Beaver, Troy

Mississippi:

  • Renaissance at Colony Park, 1000 Highland Colony Pkwy, Ridgeland

Nevada:

  • 1955 Festival Plaza Dr., Las Vegas

Puerto Rico:

  • The Mall of San Juan, 1000 The Mall of San Juan Blvd., San Juan

Lucky Brand joins a growing list of retailers who have filed for Chapter 11 bankruptcy and closed multiple locations. The Children’s Place, J.C. Penney, Victoria’s Secret, Signet Jewelers and more have filed for Chapter 11 since the coronavirus outbreak mandated closures.