Women’s fashion retailer Dots seeks bankruptcy protection
Posted on Sunday, January 26th, 2014 at 3:49 pm
Women’s apparel retailer Dots, which has about 400 stores in 28 states, sought bankruptcy protection on Monday, January 20 by filing for Chapter 11 bankruptcy.
In the bankruptcy petition filed by Dots LLC, Chief Executive Officer Lisa Rhodes said in a statement that taking this action will enable the company to reorganize while also remaining in operation. In connection with the filing, Dots will have to shut down 36 stores with poor sales.
Rhodes also said that the company’s financial problem was worsened by a failed marketing strategy and unstable economic conditions.
If your business has been struggling financially in Raleigh, the lawyers at the Bradford Law Offices, PLLC, can help you explore your options, including filing for bankruptcy protection. Call (919) 758-8879 today to find out how bankruptcy may prove advantageous to your business.