WASHINGTON, D.C., USA — Add Lucky Brand to the growing list of retailers filing for bankruptcy because of the coronavirus pandemic.
Lucky Brand Dungarees LLC announced Friday it filed for Chapter 11 bankruptcy protection and plans to sell the business to the SPARC Group, which operates the Aéropostale and Nautica brands.
Lucky Brand, which currently has around 200 locations in North America, plans to close at least 13 stores within the next few months, according to a court filing.
In a statement, the company's Interim CEO, Matthew Kaness, 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," Kaness said. "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."
Over the past couple months, several major retailers have had to file bankruptcy amid the coronavirus pandemic. So far, GNC, Tuesday Morning, J. Crew, Neiman Marcus, and J.C. Pennery have all filed for Chapter 11. Other retailers have announced a slew of store closures including Victoria's Secret and the parent company of Zales, Jared and Kay Jewelers.
Lucky Brand closing stores
In a July 3 court filing, Lucky Brand identified the following 13 locations as its "initial closing stores":
Little Rock: 11201 Bass Pro Pkwy
Thousand Oaks: 350 W Hillcrest Drive
Long Beach: 5267 2nd St
Arvin: 5701 Outlets at Tejon Ranch Pkwy
West Hartford: 1500 New Britain Ave
Orlando: 4200 Conroy Road Suite 168
Sarasota: 140 University Town Center Drive Space 266
Dania Beach: 1763 Pointe Blvd
Chicago: 520 N Michigan Ave Suite 127
Troy: 2800 Big Beaver Space North U209
Ridgeland: 1000 Highland Colony Pkwy Suite 2005
Las Vegas: 1955 Festival Plaza Drive Suite 160
San Juan: 1000 The Mall of San Juan Blvd Space 144