Large Retailers Which Have Filed For Bankruptcy
Styles For Less
Styles For Less is another well-known American clothing and accessories retailer. Its main demographics are women and teens. It was founded in 1992 and is headquartered in Anaheim, California. Unfortunately, the emergence of fast fashion brands like H&M, Forever 21, and Zara, as well as online shopping from e-commerce websites, led to declining sales and decreased profit, which led Styles For Less to file for Chapter 11 protection in November 2017.
Since then, it has closed 50 stores and laid off 300 employees. Those who remained also had to take a reduction on their payroll. Despite these measures, Styles For Less was unable to recover, and by September 2018, its filing was converted to Chapter 7 in which the company will be liquidated and sold.
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