Headlines

Deb Shops Files Chapter 11

May liquidate 295 stores

Published

9 years ago

December 5, 2014

Sarah Whitman

Court documents reveal that Deb Shops (Philadelphia) filed its second bankruptcy in less than four years this past Thursday and may conduct a going-out-of-business sale at its 295 stores, according to Reuters.

Deb Stores Holding LLC, which is controlled by private equity firm Cerberus Capital Management, said it would seek a buyer of its teen and young women's fashion business. Otherwise, the company said it plans to liquidate its stores.

“Deb's recent performance has been strained due to a combination of factors, including historic lack of capital invested in (the) business resulting in old tired stores,” said Dawn Robertson, the company's president, in a court filing.

Deb Shops operates in 44 states, mostly along the East Coast and in the Midwest.

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