Teen brand and retailer Delia’s announced today that it plans to file for Chapter 11 bankruptcy protection and liquidate all merchandise. Recently, the retailer tried to raise funding and find a buyer; both efforts were unsuccessful.
Delia’s entered into an agency agreement with Hilco merchant Resources and Gordon Brothers Retail Partners to liquidate merchandise owned by the retailer and dispose of furnishings, trade fixtures and equipment from company stores.
Executives within the company expect the bankruptcy to be completed in the “very near term,” and also “will seek, among other things, the bankruptcy court’s approval to close all existing stores and distribution centers and to conduct store closing and going out of business sales,” the company reported in a statement.
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