Frederick's of Hollywood shuttering 31 stores

[dmx10101]

Frederick's of Hollywood shuttering 31 stores
February 23, 2015 | By Gina Acosta

Lingerie retailer Frederick’s of Hollywood is reportedly closing at least 31 of its 93 stores as part of a broader re-engineering effort.

According to the Wall Street Journal, Great American Group is overseeing liquidation sales at 31 stores, including the flagship location in Los Angeles. The number of stores to be shuttered may rise slightly.

Frederick’s is working with Consensus Advisors to explore strategic options, although currently the retailer intends to operate its remaining stores and e-commerce site. Consensus has been advising Frederick’s since the company took a $24 million loan from Salus Capital Partners in 2012.

Frederick’s of Hollywood previously filed for bankruptcy in 2000, went public in 2006, and went private again in December 2013. Buyers led by the Harbinger Group took the retailer private in 2013 as part of a deal that valued Frederick’s at roughly $11 million. Even then, the company had been struggling to compete with top-selling lingerie brands such as Victoria’s Secret, which led to a string of quarterly losses.

WSJ notes that the going-private deal did not work out all that well for Harbinger, which recently said it wrote off more than $60 million on the transaction.

[TheFugitive]

Had no idea they even had any more brick-and-mortar stores.

Brilliantly parodied in this episode of Married With Children

http://marriedwithchildren.wikia.com/wiki/Episode:Her_Cups_Runneth_Over

[Hudsons81]

Had no idea they even had any more brick-and-mortar stores.

^

Also mentioned in this Red Green Show clip:
https://www.youtube.com/watch?v=GGKy1EM8Zrs

[Bdubs]

There has been a Frederick's in the Crystal Mall in Waterford, CT since I was a very young kid. I was surprised to see the signs a few weeks ago there. I'm pretty sure it has since closed. There were only 3 racks worth of items left in the store.

[ynkeesfn82]

Years ago they were in The Buckland Hills Mall in Manchester, Connecticut. Don't remember what year they closed. Haven't been there in years.

[Hudsons81]

In 1998 there was one in Southland Center in Taylor, Michigan. Don't remember when they closed, however.

There was also one at Great Lakes Crossing Outlets in Auburn Hills, Michigan. It was there when I went there in August 2013 and when I returned a month later they were already closed.