Posted by SooYeon(Pia),Shin
Menswear chain S&K Famous Brands Inc. filed for Chapter 11 bankruptcy protection on Monday, citing operational losses over the past year.
The Richmond, Va.-based chain, which sells value-priced clothing in about 136 stores in 23 states throughout the East Coast and Midwest, also attributed the move to difficulties plaguing many retailers, including tightening credit and slowed consumer spending.
S&K stores, mainly in strip malls, offer men's suits, sport coats, pants, shirts, ties and shoes for sale and tuxedoes for rent.
CEO Joseph A. Oliver III said in a news release that the company wants to cut its debt and build new capital as quickly as possible.
Click here to read more.
No comments:
Post a Comment