AddThis

Dots to close all stores; Gordon Bros. handling liquidation

New York -- After over 25 years in business, Dots, an Ohio-based women’s fashion discount retailer, is closing its doors.  Store-closing sales will begin on Friday, March 1, with discounts on all merchandise, as well as store furniture, fixtures and equipment. Dots filed for Chapter 11 protection on January 20, 2014.

Dots selected Gordon Brothers Group’s Retail Division to oversee the chain’s going-out-of-business sales in all of its 360 locations. Stores will remain open until all merchandise has been sold. All inventory will be on sale and discounts will begin at 20%.

Dots officials contacted 268 potential buyers but weren't able to find any offers that would have kept the chain alive, according to a report in the Wall Street Journal.

Dots has struggled against competition from both online retailers and other brick-and-mortar discount retailers that have greater resources and wider brand recognition. The retail chain has experienced trouble throughout the economic downturn with a significant decline in store traffic. Dots' financial difficulties have been exacerbated by a number of largely unsuccessful changes in product pricing and marketing, as well as a burdensome lease portfolio.
 

 

© 2014