Vanity Shop’s 137 stores start going-out-of-business sale after requesting Chapter 11 protection

Midwest womenswear and children apparel chain Vanity Shop of Grand Forks, Inc., is closing all 137 of its Vanity stores in 27 states.

This move follows the company's filing of a voluntary petition for Chapter 11 bankruptcy protection on March 1 in the U.S. Bankruptcy Court for the District of North Dakota (Case No. 17-30112).

Tiger Capital Group, which provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients, is conducting the going-out-of-business sale, which is now underway.

Michael McGrail, COO of Tiger Group, explained Wednesday in a statement that "During the sale, shoppers across the country will find deals starting at 10 percent to 30 percent off on Vanity's expansive offering. The company's difficult decision to close all stores is emblematic of the pressures facing mall-based speciality apparel retailers in the wake of ever-increasing competition from big-box ‘fast-fashion' chains and e-commerce sites."

While Vanity's nationwide store portfolio spans 27 states, its heaviest concentrations are in Minnesota (13 stores); Iowa (12); Wisconsin (nine) and Ohio (nine).

Tiger will also be liquidating store fixtures and equipment, as well as furniture, fixtures and equipment from the company's distribution centres, according to the corporate note.