Daily News: May 29, 2012

Avenue Stores to Close 96 Stores as Part of Restructuring

Avenue Stores, LLC, which operates the Avenue brand of women’s fashion apparel, began the process to close 96 stores over the next three months. The company previously announced plans to selectively close and consolidate stores in order to finalize a geographic footprint that maximizes profitability and sales growth potential. Upon completion of the closures, the company will continue to operate more than 300 stores in 34 states, and offer online shopping at www.Avenue.com.

During the closing process, the affected stores will offer extraordinary sales on remaining inventory. The sales will begin immediately.

“This kind of necessary step is always a difficult decision given the impact on employees and customers, but it is an important step in concluding our successful recent restructuring, and will allow us to focus our resources,” said Elizabeth “Liz” Williams, CEO of Avenue Stores, LLC. “We thank our dedicated employees and loyal customers. We will be offering our customers significant discounts at the closing stores during the closing process. Once the closures are complete, we invite customers to shop with us at a nearby store or online at www.avenue.com.”

Avenue is retaining employees throughout the closing process. The company is also developing strategies to make this process seamless to its customers. While Avenue Stores is presently consolidating its base, the company intends to return to new store growth at the appropriate time in the future.

Based in Rochelle Park, NJ, Avenue Stores, LLC operates Avenue stores throughout the United States. Avenue is a fun, trend-right, multi-channel source for affordable fashion for real size women with a youthful attitude.

Previously on abfjournal.com:

Versa Affiliate Finalizes Acquisition of United Retail Assets, Tuesday, April 17, 2012