Alex and Ani is shutting down 20 stores along with its East Greenwich, RI, headquarters.
Employees learned of the closings in an all-staff meeting this week, the Boston Globe reports. They were instructed to begin working from home immediately.
Alex and Ani CEO Scott Burger told the Globe that the company is looking at a hybrid working model. He said Rhode Island employees “will work remotely until we determine our future office needs and conduct a search.” Alex and Ani has 50 employees in Rhode Island.
The company will continue to operate seven stores, according to the report.
Alex and Ani began Chapter 11 bankruptcy proceedings in an effort to stabilize its business in 2021.
The company was founded by Carolyn Rafaelian in 2004. Lion Capital took a controlling stake in Alex and Ani in 2019 and Rafaelian was eventually pushed out as CEO of the company.