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Perfumania is closing a quarter of its stores



The company hopes bankruptcy will allow it to renegotiate its leases and focus on high-performing stores "to establish a foundation for sustainable long-term growth," Perfumania CEO Michael Katz said in a prepared statement.


Perfumania plans to focus on boosting its online sales to offset its losses.


Retailers such as Bebe, Staples ( SPLS ) and JCPenney ( JCP ) have closed thousands of stores this year.


There are some positive signs for retail: the second quarter brought some unexpectedly good earnings from many brands.




READ MORE (CNNMoney)


  • Perfumania to close 64 stores, blames declining mall traffic for bankruptcyNew York Business Journal
  • Perfumania Files For Chapter 11PYMNTS.com
  • Perfumania files for Chapter 11 bankruptcy, will close 65 storesNewsday
  • Perfumania Holdings Chapter 11 Petition, Plan FiledBankrupt Company News (press release) (blog)
  • Perfumania files Chapter 11; to close more storesChain Store Age
  • Perfumania files for bankruptcy, plans to close storesRetail Dive
  • Retailer Perfumania announces recapitalization, Chapter 11 filingReuters
  • Fragrance Retailer Files Chapter 11 With $84MM DIP Commitment From Wells FargoABL Advisor


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Perfumania is closing a quarter of its stores

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