Tuesday, February 25, 2020

Modell's to close 19 stores, offer up minority stake

Retail Dive
Modell's on Monday announced it was closing more than 15% of its footprint and seeking outside investment to help save the company, according to a company press release.

Unless the company can "appropriately restructure the leases," it will close 19 stores, a company spokesperson said in a statement emailed to Retail Dive, noting that five locations originally slated for closure will remain open thanks to negotiations with landlords.. . . more