dELiA*s, Inc. , the
omni-channel retail company primarily marketing to teenage girls,
announced on December 8, 2014 that it, along with certain of its
subsidiaries (collectively, the "Company"), has filed voluntary
petitions for relief under Chapter 11
of the United States Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of New York in White Plains, NY (the
"Bankruptcy Court") on December 7, 2014. The Company will continue to
manage its properties and operate its businesses as
"debtors-in-possession" under the jurisdiction of the Bankruptcy Court
and in accordance with the applicable provisions of the Bankruptcy Code
and the orders of the Bankruptcy Court. As previously announced on
December 5, 2014, after exploring strategic alternatives to raise
financing and/or engage in a sale, merger, or other form of business
combination, the Company's Board of Directors concluded that it was in
the best interests of the Company's stakeholders to close its retail
stores and liquidate its assets, that it had entered into an agency
agreement with Hilco Merchant Resources, LLC and Gordon Brothers Retail
Partners, LLC, to among other things, liquidate all merchandise owned by
the Company and to dispose of certain furnishings, trade fixtures,
equipment and improvements to real property with respect to the
Company's stores, and that it would commence a bankruptcy case to seek
approval to conduct store closing and going out of business sales
pursuant to the Agency Agreement. Learn more
about dELiA*s chapter 11 filing on the Apparel Search fashion blog.
Historical Profile prior to
dELiA*s, Inc. is a retail company comprised
of two lifestyle brands primarily targeting teenage girls and young women.
The Company generates revenue by selling predominantly to teenage consumers
through direct mail catalogs, Websites and retail stores. It operates in
dELiA*s brand. Through its e-commerce Webpages, catalogs and retail stores,
dELiA*s (the brand) offers a variety of product categories to teenage girls
to cater to an entire lifestyle. Through its catalogs and the e-commerce
Webpages, it sells many name brand products along with its own brand products
in key teenage spending categories. These products include apparel and accessories.
Its mall-based dELiA*s specialty retail stores derive revenue primarily
from the sale of apparel and accessories and, to a lesser extent, branded
apparel to teenage girls. It operates in two segments: direct marketing
and retail stores. In June 2013, it sold its Alloy business to HRSH Acquisitions
LLC d/b/a Alloy Apparel and Accessories.
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