Avenue is reportedly putting all of its stores on the chopping block.
According to a breaking story from Retail Dive, the women’s plus-size retailer is shuttering its locations across the United States in the coming weeks — an announcement reportedly made in a conference call to employees on Friday. The company has not confirmed plans to close, but the media outlet shared that store associates were instructed not to accept returns or sell gift cards.
In an official statement emailed to Retail Dive, a spokesperson for the firm’s owner, Versa Capital Management, said, “We remain focused on Avenue as a retail destination for style-minded, plus-size women.”
The news comes a week after Avenue filed a Worker Adjustment and Retraining Notification notice with the Department of Labor & Workforce Development in New Jersey for its Rochelle Park outpost, indicating the elimination of 152 jobs effective Sept. 30. WARN requires employers to provide 60 days notice in advance of mass layoffs.
In a report published early this month by FN sister publication Sourcing Journal, unnamed associates at various Avenue locations said that the stores “either have been closed or are in the process of closing.”
The retailer is currently hosting a flash sale on its website, with 50% off clearance items. It is also offering 30% off new items and a $25-off-$100 promotion.
Rapidly shifting consumer trends and the rise of e-commerce have contributed to a widespread downsizing of traditional brick-and-mortar stores. While some closures are the result of bankruptcy proceedings, including Payless and Gymboree, others are simply restructuring in an effort to bring down costs and prioritize better-performing channels amid the challenging retail environment.
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