Avenue (store)
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| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | 1987 (as The Avenue) |
| Defunct | 2019 (stores) |
| Fate | Bankruptcy |
| Headquarters | Rochelle Park, New Jersey, U.S. |
Number of locations | 222 (33 states)[1] (2019) |
Key people | Mark Walsh (CEO) |
| Products | Clothing, footwear, jewelry |
| Revenue |  US$399.25.1 million (2006) |
| US$12.982 million (2006) | |
| US$10.48 million (2006) | |
| Owner | Versa Capital Management |
| Website | www |
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Avenue Stores LLC is a specialty retailer in the United States offering plus-size clothing to women who wear larger-size clothing. The company serves a target audience of women aged between 25 and 55 years of age, wearing apparel of size 14 or larger. The group operated 222 stores in 33 states in 2019,[1] all under the name The Avenue.[2]
The company was purchased by Redcats USA, part of the French group Kering, in November 2007.[3]
Early in 2012, United Retail Group, Inc., Avenue's parent company, filed for Chapter 11 bankruptcy and was acquired by Versa Capital Management.[citation needed]
On August 9, 2019, Avenue Stores again filed for Chapter 11 bankruptcy. The case was filed in Delaware as case number 19-11842. According to an affidavit filed by David Rhoads, the company's President and Chief Financial Officer, the company struggled to compete. It planned to use the bankruptcy process to sell its e-commerce business and wind down its physical stores. The e-commerce business maintains the domains: avenue.com and loralette.com SB360 Capital Partners, LLC has been identified as the stalking horse bidder.[4][5]
In October 2019, the e-commerce assets were sold to Australian retailer City Chic Collective.[6][7]
References
- ^ a b "Avenue store closings 2019: Plus-size retailer files for bankruptcy". www.usatoday.com. Retrieved 2019-08-23.
- ^ "History of United Retail Group Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved August 23, 2019.
- ^ "Cengage Learning". www.cengage.com. Retrieved August 23, 2019.
- ^ "Bankruptcy Filing for Avenue Stores". IBTimes. Retrieved 2020-05-10.
- ^ "New Chapter 11 Bankruptcy Filing - Avenue Stores LLC". Petition11. Retrieved 2020-05-10.
- ^ Acquisition of Avenue’s e-commerce business approved City Chic Collective October 8, 2019
- ^ City Chic broadens US reach with e-commerce acquisition Inside Retailing October 8, 2019
External links
- Companies that filed for Chapter 11 bankruptcy in 2012
- Companies based in Bergen County, New Jersey
- Retail companies established in 1987
- Clothing retailers of the United States
- American companies established in 1987
- Retail companies disestablished in 2019
- American companies disestablished in 2019
- Retail companies established in 2019
- Internet properties established in 2019
- American companies established in 2019
- 2019 establishments in New Jersey
- Companies that filed for Chapter 11 bankruptcy in 2019
- Rochelle Park, New Jersey
- 2007 mergers and acquisitions