Retail news for Wednesday includes all Avenue stores closing in 2019.
Avenue, a retailer of plus-size women’s clothing, has yet to confirm the retail news itself, but several of its employees have spoke out about the stores closing. These employees claim that the announcement was made during a meeting on Friday.
The reports claim that Avenue is working on a going-out-of-business sale that will come to a close next month. Some employees also note they are no longer allowed to accept returns or sell gift cards to customers.
The Avenue employees hit by this retail news are also reporting that they were caught by surprise and that the company isn’t planning to pay them any severance. There was talk about the stores potentially closing earlier during the month, but that’s still not helping out the employees, reports Retail Dive.
While Avenue isn’t saying anything about it going out a business, one of its partners is. The company is working with Hilco Merchant Resources for its liquidation sale. The company has announced the sale and says it will have items at the store marked down between 30% and 50%.
The retail news includes Avenue closing down all of its 222 stores that it operates across the U.S. What is still unknown about this closure is if the chain is planning to keep its online store up and running after the physical retail locations close their doors.
As of this writing, William White did not hold a position in any of the aforementioned securities.