Anna’s Linens begins liquidation sales
Anna's Linens has hiredHilco Merchant Resources and Gordon Brothers Group to begin going-out-of-business sales at allretail locations.
The joint venture partners were awarded the store closing process by a U.S. bankruptcy court on June 18.
The sale will entail the total liquidation of all merchandise, much of which has been re-stocked within the past week. Store furniture, fixtures, and equipment will also be available for sale.
"These store closing sales feature an outstanding assortment of merchandise at very significant price reductions," a spokesperson for the joint venture stated. "Consumers are encouraged to shop early while the selection is best."
Anna's Linens currently operates 252 retail locations throughout the United States and Puerto Rico.Anna’s Linens filed for bankruptcy in 1993 and emerged from the process in 1994. In its current filing, the company said it had up to $500 million in liabilities and up to $100 million in assets.
Unsecured claims include $3.9 million owed to Welcome Industrial in Deer Park, N.Y; $3.6 million to Shewak Lajwanti Home Fashions Inc. in Vernon; and $3.1 million to S. Lichtenberg and Co. in New York. Anna’s Linens generates more than $300 million in annual revenue, according to court documents.
Founder and Chairman Alan Gladstone started the company in 1987. Eight stores—San Francisco, San Ysidro, Dallas, Houston, Decatur, Ga., Stone Mountain, Ga., Langley Park, Md. and Rock Hill, S.C.—are set to close this month.
T.J.Maxx seeks budding artistes
T.J.Maxx has come up with a creative way to encourage shoppers to support children in need.
The retailer is launching the "Maxx Kids Art Contest" to support organizations that help children in need reach their full potential, such as Save the Children.Winning artwork will appear on future products sold in T.J.Maxx stores that will benefit children in need. In addition, all winners will receive a $250 savings bond.
"We're excited to launch the 'Maxx Kids Art Contest' because it's a chance for kids to have fun while helping other kids in need," said Rebecca Leonard, spokesperson for T.J.Maxx.
Coinciding with the "Maxx Kids Art Contest", a reusable bag featuring children's artwork will be available in-stores for $.99 with proceeds benefiting Save the Children's literacy, nutrition and physical activity programs.
The contest will run in-store from June 21 through July 11 and 25 winners will be selected. Submissions will be judged based off of the following criteria: originality, creativity, and applicability to the theme of "what's your favorite thing in the whole world?" Children must be 14 years old or younger to participate.
T.J.Maxx is dedicated to raising funds and awareness for organizations that work to improve the lives of the nearly one in four American children that live in poverty. For more than 30 years, T.J.Maxx has supported Save the Children through in-store fundraising campaigns, child sponsorship and merchandise.
T.J.Maxx is the nation's largest off-price retailer, with more than 1,000 stores spanning 49 states and Puerto Rico.
Head merchant at Aeropostale is out
Aeropostale is losing a key executive and handing over merchandising responsibilities to the company's CEO.
The retailer announced that its chief merchandiser, Executive VP Emilia Fabricant, is leaving the company. Effective immediately, the company's senior merchandising team will report to CEO Julian R. Geiger.
The retailer said there are no plans to seek a replacement for Fabricant at this time.
"Over the past ten months, we have carefully instituted structural changes to our organization that enabled us to balance levels of responsibility and to run our business more effectively,” Geiger said. “In conjunction with these changes, I believe that the strength of our senior design and merchandising teams positions us well on our path to profitability.”