Tuesday, April 21, 2015

Frederick's of Hollywood Files Bankruptcy

End of an era.
At one time Frederick's of Hollywood was the go to place for sexy lingerie.

Racy lingerie retailer Frederick’s of Hollywood is seeking bankruptcy protection in federal court after closing all of its stores and switching to an online-only business, which it intends to sell to the highest bidder. 
The privately held company says competition, decreased mall foot traffic and onerous leases helped push it into a Chapter 11 bankruptcy filing. 
Frederick’s of Hollywood Group Inc. says in bankruptcy court papers that it has not had a profitable fiscal year since 2007. Its balance sheet lists about $36.5 million in assets and around $106 million in liabilities.~snip~
Another casualty of the world wide web. Why go into a store when you can shop from the comfort of your own home?
Businesses who didn't see the changes fast enough get left behind by those who do.

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