Gordon Brothers Group to Close Dots Stores Going-Out-of-Business Sales to Begin March 1st, Nothing Held Back PR Newswire Gordon Brothers Group Feb 28, 2014 8:30 AM BOSTON, Feb. 28, 2014 /PRNewswire/ -- After over 25 years in business, Dots, LLC, an Ohio-based womens fashion discount retailer, is closing its doors. The company filed for Chapter 11 protection on January 20, 2014. On February 27th, Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, was awarded the store closing process for all locations by the bankruptcy court. Dots currently operates approximately 360 retail locations across the United States. Store closing sales will begin on March 1st and will involve significant discounts on all merchandise, as well as store furniture, fixtures and equipment in order to wind down company operations. Dots, known for its affordable womens fashion, has struggled against competition from both online retailers and other brick and mortar discount retailers that have greater resources and wider brand recognition. The retail chain has experienced trouble throughout the economic downturn with a significant decline in store traffic. Dots financial difficulties have been exacerbated by a number of largely unsuccessful changes in product pricing and marketing, as well as a burdensome lease portfolio. Our employees continue to do a tremendous job maintaining high quality standards and they are dedicated to fully serving our customers during this transition. We appreciate the continued support of our valued customers over the years and hope they take advantage of the significant savings during these sales events, said David Minnix, President of Dots.
Posted on: Thu, 27 Mar 2014 23:02:29 +0000
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