Anchor Blue files Chapter 11

New York City Anchor Blue Retail Group filed for Chapter 11 bankruptcy Thursday. The chain’s largest unsecured creditor, Levi Strauss, will purchase 73 of the retailer’s 81 MOST stores, which serve as outlets for Levi Strauss products.

Anchor Blue, which operates 177 mostly mall-based stores in southern and western states plans to remain open and restructure under Chapter 11 protection.