US-based women’s clothing retailer Vanity has filed for bankruptcy and decided to close all 137 stores located in 27 states. Around 1,700 people are employed with the Fargo retailer. The move has come after retailer faced significant competition from internet retailers. The company took the decision last month reportedly said Board Chairman Jim Bennett, who added, “It’s been a very difficult retail sector in the last three to four years. It just isn’t sustainable for us.”
President and CEO Mickey Quinn further informed that stores will remain open to sell off remaining inventory and most stores will be closed by late March.
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Vanity, also known as Vanity Shops, has been in apparel and accessories retail, targeted at fashion-conscious young females.
