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Upscale fashion retailer files for bankruptcy
The competitive apparel market and a touch retail climate overall has claimed another victim. BCBG Max Azria Group LLC on Wednesday announced that it taken “the next step in the restructuring of its brands and operations” by filing for Chapter 11 of bankruptcy protection. Earlier this month, the company revealed plans to close 120 stores as part of its restructuring efforts. -
Macy’s sells Minneapolis store
The final clearance sale is already underway at Macy’s store in downtown Minneapolis. Macy’s Inc. has officially completed the sale of its Minneapolis property to 601W Companies for $59 million in cash. The store is expected to close this spring. The department store retailer will record a gain for the property of approximately $47 million in first quarter 2017. The gain was originally anticipated and included in 2017 earnings guidance previously provided by the company.

