Skip to comments.Clothing chain Love Culture files bankruptcy, may be sold
Posted on 07/18/2014 7:32:20 PM PDT by 2ndDivisionVet
Love Culture Inc on Wednesday filed for Chapter 11 bankruptcy, becoming the latest women's apparel retailer to seek protection from creditors, and said it may be sold after having received interest from possible buyers.
The company, which according to its website has 82 stores stretching from Massachusetts to Hawaii, joins Ashley Stewart Holdings Inc, Coldwater Creek Inc., Dots LLC and Loehmann's Inc among retailers to file for bankruptcy since late last year as consumers curb spending and visit malls less.
In a court filing, the company's chief restructuring officer, Rick Bunka, said sales remain below projections, while vendors in April began curbing credit and demanding payment for goods faster or upon delivery, leading to "significant liquidity challenges."
Love Culture said it plans during the bankruptcy process to close money-losing stores, restructure its debt and investigate options "including a possible sale of substantially all of its assets as a going concern."(continued)
(Excerpt) Read more at reuters.com ...
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I’ve never heard of the clothing chain Love Culture.
I am a bonafide shopaholic.......and have never heard of them.
It looks similar to “Forever 21” or “Body Central.” Skimpy teenage girl clothes.
Ahhhh that explains it. Although I have a 14 yr old granddaughter who forces me to sit in Forever 21 while she shops. Her favorite store is actually the Charlotte Russe outlet. Lol
I take my teenaged daughters (14 and 16) and their friends to the mall sometimes. They like Hot Topic and Forever 21. I don’t think they go into Charlotte Russe, not sure why.
My girls are grunge dressers, but some of their friends actually try to look cute :-).
My granddaughter is a fashionista. Gets it from me and her mom I guess. We have a boat in Ventura Ca so we do all our shopping at the outlet stores here and in Camarillo. We wear top of the line stuff at Target prices since we shop sales and clearance racks. A couple of weeks ago I walked into Saks Off Fifth and they were having an additional 30% off your entire purchase. Because we get designer duds at really good prices we shop......alot. Lol.
I haven’t been to a regular mall in 15 years.
I hit a good sale at Belk (a Southeastern department store chain) the last time the girls forced me to take them to the mall. One dress was 80% off, ended up being about $14.
Usually I go to The Salvation Army on half-price day!