Another retailer is in trouble, Destination Maternity has filed for bankruptcy! Destination currently owns 458 stores nationwide and is the leading Maternity retailer in the U.S.
What Destination Maternity has to say on Bankruptcy:
““This decision is a difficult, but necessary one,” said Lisa Gavales, Chair of the Office of the CEO of the Company. “In a challenging retail environment, we have had to make some very tough choices, but we are confident that the steps taken today provide an opportunity to continue a marketing process that provides the most efficient means of maximizing value to our stakeholders. Throughout this process we will be focused on developing the promising interest already shown by potential bidders, and maintaining operational momentum toward a stronger business.” “
Read more details in the press release now.