Headlines

Simply Fashion Files for Bankruptcy

Chain of 250 units will liquidate assets

Published

9 years ago

April 21, 2015

Discount women’s apparel company Simply Fashion Stores Ltd. (Birmingham, Ala.) has filed for Chapter 11 bankruptcy protection in Miami. The chain, which markets primarily to women in urban areas and operates 250 stores in 25 states, began to struggle during the 2009 recession and shuttered 120 stores from 2012 to 2014, according to The Wall Street Journal.

Competition from general merchandise stores like Target and Walmart has also hurt the chain, as those retailers have entered more urban neighborhoods in recent years.

While the owners of Simply Fashion, Swapnil Shah and Shail Shah, will loan the company funds during bankruptcy proceedings, WSJ reports the company will likely liquidate its all of its assets.

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