the staff of the Ridgewood blog
Ridgewood NJ, The coronavirus pandemic has led another retailer to filing for bankruptcy. Lucky Brand Dungarees LLC, which has about 200 Lucky Brand stores in North America and sells its products in department stores, announced it had filed for Chapter 11 bankruptcy protection Friday with plans to sell the equity-backed business to the SPARC Group, operator of Aéropostale and Nautica.
The company also plans to close at least 13 stores in bankruptcy, it said in a news release. Lucky Brands Dungarees has a store in the Ridgewood Central Business District at 67 E Ridgewood Avenue .
Matthew A. Kaness, appointed as Interim CEO in September 2019 and also Executive Chairman in January 2020, said, “The COVID-19 pandemic has severely impacted sales across all channels. While we are optimistic about the reopening of stores and our customers’ return, the business has yet to recover fully. We have made many difficult decisions to preserve the Company’s viability during these unprecedented times. 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. We remain committed to our Associates, vendors, and business partners and appreciate the continued support through this process.”
Such a shame. I loved this store and will miss it. Where are we headed people? With this rate we will have a ghost downtown by end of the year. Where will all the new moving in families be hanging out? I thought they would be the ones saving us.
overpriced junk
Crazy. People are starving in nearby cities, but Ridgewoodites pay through the nose for a pair of shitty jeans. Crazy.
“Starving”? Really? I have no doubt that many people are struggling, but starving?