Ashley Stewart closes stores

Ashley Stewart, a plus-sized women’s retail store, filed for bankruptcy protection under Chapter 11.  The retailer announced it would immediately close 27 stores that it says are underperforming.  A statement released by the company reported that the company experienced a decrease in profitability in 2012 but the factors causing the problem have been corrected.  Bankruptcy filings show that the company has between $10 million and $50 million in both assets and liabilities.

For the full story see, “NJ retailer Ashley Stewart files for bankruptcy, will close 27 stores.”

Image credit: JamesAlan1986