Teen apparel company in N.C. expected to file for bankruptcy
Posted on Monday, January 9th, 2017 at 11:25 pm
Another well-known teen apparel company with branches in North Carolina is expected to seek bankruptcy protection due to stiff competition with new brands, a January 3 article of The News & Observer reported.
According to reports, at least 240 stores of “The Limited” are expected to cease operating, as their sales have dropped significantly. There were branches of the store in some parts of North Carolina where other well-known brands of teen apparels could also be found. Earlier reports revealed that apparel brands like Abercrombie & Fitch, Aéropostale, and Pac Sun, already sought bankruptcy protection in 2016 after their sales became affected by other teen apparel brands like H&M and Uniqlo. The filing could also be coming for The Limited because two of their top officials resigned.
The attorneys of Bradford Law Offices, PLLC in Raleigh represent struggling businesses who have decided to resolve their financial woes through a bankruptcy filing. If you are in such situation, we may offer you legal assistance in the filing process to make sure you get the best deal you deserve. Learn more about your options from us today by calling (919) 758-8879.