The wave of retailers shutting brick-and-mortar locations is continuing, with plus-size retailer Fashion to Figure announcing it will close stores once the holiday shopping season is over.
The chain-store has 26 locations on the East Coast, including three in New York City. The New York-based company said it will shut down up to 10 locations, according to the New York Post.
The company received a $18.2 million investment in 2013 from Perella Weinberg Partners, and decided to move ahead with a mall expansion.
“We rolled out mall stores at a time when the world was changing quite a bit,” chief executive Michael Kaplan said, according to the Post. “We are unwinding [the expansion] and that certainly presents challenges.” The store’s headquarters are in New York City, and it was founded in 2004. It has a store in a mall in the Bronx and two in Brooklyn, according to its website.
JCPenney and Macy’s are collectively planning to shut down more than 200 stores this year. Michael Kors also announced this summer that it will close between 100 and 125 stores over the next two years. [NYP] — Miriam Hall