Headlines

Bradlees Returns to Bankruptcy Protection

Discounter with 105 stores points to strong competition, economic downturn

Published

23 years ago

December 28, 2000

admin1

Bradlees Inc. (Braintree, Mass.) has decided to file for bankruptcy protection. The 105-store chain will begin a phase-out of its headquarters and distribution operations this week.

A company statement said the retailer “had explored a number of options, including strategic consolidation, before determining that an orderly wind-down of operations offered the best alternative to maximizing the value of the company.” The company says it has a valuable, urban real estate portfolio.

Just a year after emerging from Chapter 11 bankruptcy, Bradlees'business was buoyed by the liquidation of Caldor, its main regional competitor. But soon, Wal-Mart, Kmart and Kohl's were taking over some 70 vacant Caldor stores, and Bradlees again began to struggle. The retailer also cited a general economic downturn as a factor in its decision.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design