Simply Fashion, a discount retailer of women's clothing, accessories and footwear, filed for Chapter 11 bankruptcy protection last month.

The privately held company currently runs about 243 stores under the Simply Fashion and Dots names.

This week, Simply Fashion and Dots stores will be closing nationwide and going-out-of-business sales.

Liquidators Gordon Brothers Group and Hilco Merchant Resources are managing the 243 closings, after being awarded the store closing process by the bankruptcy court on 6 May.

The stores will liquidate with sales that will offer discounts up to 30 percent off all merchandise, the company said in a release.

"We anticipate that this will be a short sale due to the outstanding savings and the desirable assortment of fashions and accessories. Consumers are encouraged to shop early while the selection is best," said a representative of the Joint Venture.