Skip to comments.The End of an Era: Fashion Discount Retailer Dots Files Chapter 11 Bankruptcy and Closes Its Doors
Posted on 03/11/2014 5:02:19 PM PDT by 2ndDivisionVet
On February 27th, Gordon Brothers Group, a global advisory, restructuring and investment firm was awarded the store closing process for all locations by the bankruptcy court. Store closing sales will begin on March 1st and will involve significant discounts on all merchandise, as well as store furniture, fixtures and equipment in order to wind down company operations.
Our employees continue to do a tremendous job maintaining high quality standards and they are dedicated to fully serving our customers during this transition, David Minnix, president of Dots, said. We appreciate the continued support of our valued customers over the years and hope they take advantage of the significant savings during these sales events.
This discount retailer is already known for its affordable pricing and we encourage customers to visit their local stores to find even greater discounts while the selection lasts, Rick Edwards, Co-President of Gordon Brothers Groups Retail Division, said.
Through the economic downturn, Dots has struggled against competition from both online retailers and other brick and mortar discount retailers that have greater resources and wider brand recognition.
When it came to translating brand message through all channels, the retailer did an average job. In creating a seamless online presence, it is very important to also provide consumers with an experience that will have them coming back for more. Many retailers are now investing in creating a personalized experience with the consumer and this is something that Dots hasnt done.
Over the last 25 years, Dots has made changes to the appearance of their stores, however, it wasnt enough to keep up with the driving force of technology, the ever-changing needs of the consumer and other developing innovations. This often needs heavy attention and investment into marketing strategies and resources, which is something that the retailer lacked.
Gordon Brothers Groups Retail Division will oversee the going-out-of-business sales on behalf of Dots in all locations. Store locations will remain open until all merchandise has been sold and all inventory will be on sale and discounts will begin at 20 percent.
I thought Dots died out years ago.
Mostly in the North East.
Asian rag merchants
this is the first i have heard of Dots...
Dots...did not connect