CHICAGO, Aug. 21, 2012 /PRNewswire/ -- Mark Shale, the Chicago-area high-end fashion retailer, announced today that it has filed a voluntary petition for Chapter 11 business reorganization in the U.S. Bankruptcy Court of the Northern District of Illinois.
Mark Shale's President Rich Myers said: "We have tried since Mark Shale was acquired to ensure the lasting success of this 83-year-old Chicago icon. The company has always sought to bring quality and outstanding service to high-end fashion. We are proud to have some of the most experienced and loyal employees in the business, from sales associates, to tailors, to warehouse staff, to buyers and managers.
"Unfortunately, in the current economic environment and despite our significant efforts over the past few years, we have concluded that a Chapter 11 filing was the Company's best alternative. We continue to seek a strategic partner to fortify the business. In the meantime, all three of our stores – at 900 N. Michigan Avenue, Oakbrook Center and Northbrook Court – will, as always, provide the highest level of service to our customers."
Founded in 1929, Mark Shale has been one of Chicago's premier providers of men's and women's clothing. Known for its extraordinary customer service and timeless clothing collections, Mark Shale has consistently been named one of the best stores in the United States by Esquire Magazine.
Showing posts with label Oak Brook. Show all posts
Showing posts with label Oak Brook. Show all posts
Tuesday, August 21, 2012
Thursday, January 5, 2012
Bloomingdale's to Close Store in Oak Brook
Macy's Inc. has announced that it will close five Macy's and four Bloomingdale's stores that are underperforming, including a Bloomingdale's store in Oak Brook. The Macy's stores being closed are in Topeka, Kansas; Laurel, Maryland; Parma, Ohio; Antioch, Tennessee; and Texas City, Texas. The other Bloomingdale's stores closing are are in Atlanta; North Bethesda, Maryland; and in the Mall of America in Bloomington, Minnesota.
The 93,000 square foot Bloomingdale's store in Oak Brook opened in 2003 and currently employs 50 associates. Macy's says that employees displaced by store closings may be offered positions in nearby stores where possible. Regular full-time and part-time employees who are laid off due to the store closings will be provided severance benefits.
The company previously announced that it will open a new Macy's store in Gurnee. The 140,000 square feet store is slated to open in spring 2013 and will employ approximately 200 associates.
"We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations," said Terry J. Lundgren, Macy's chairman, president and chief executive officer. "This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity."
Clearance sales will begin at the stores Sunday, January 8 and run for approximately 10 weeks.
The 93,000 square foot Bloomingdale's store in Oak Brook opened in 2003 and currently employs 50 associates. Macy's says that employees displaced by store closings may be offered positions in nearby stores where possible. Regular full-time and part-time employees who are laid off due to the store closings will be provided severance benefits.
The company previously announced that it will open a new Macy's store in Gurnee. The 140,000 square feet store is slated to open in spring 2013 and will employ approximately 200 associates.
"We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations," said Terry J. Lundgren, Macy's chairman, president and chief executive officer. "This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity."
Clearance sales will begin at the stores Sunday, January 8 and run for approximately 10 weeks.