Anchor Blue to close 46 underperforming stores

Ontario, Calif. Anchor Blue, a specialty retailer of casual apparel and accessories for the teenage and young adult markets with 177 stores across 12 states, is closing 46 underperforming stores nationwide as part of its overall restructuring plan.

Gordon Brothers Group, a global advisory, restructuring and investment firm, is running a store-closing sale on Anchor Blue's behalf.

Anchor Blue initially filed for Chapter 11 bankruptcy on May 28. Apparel company Levi Strauss, the largest unsecured creditor in Anchor Blue’s bankruptcy case, will purchase 73 of the retailer’s 81 MOST stores, which serve as outlets for Levi Strauss products.

Anchor Blue plans to remain open and restructure under Chapter 11 protection.