LOS ANGELES — March 1, 2018 — Bachrach is closing its doors after 140 years, presenting menswear shoppers with the opportunity to have the renowned “Bachrach look” at discounts of up to 50 percent off. All told, millions of dollars in stylish, high-end inventory — signature Bachrach suits, shirts, pants, accessories and more — are available at 14 store-closing sales across eight states, as well as at bachrach.com. Great American Group and Tiger Group are conducting the liquidations on behalf of the retailer’s creditors.
The Los Angeles-based chain had briefly emerged from bankruptcy after an earlier round of store closures, but filed for Chapter 11 again on February 16, 2018, in California Central Bankruptcy Court/CN# 2:18-bk-11744.
Scott Carpenter, president of GA Retail Solutions, noted that Bachrach, which was founded in 1877, is a historic retailer with a specific style and top-notch customer service. “Its loyal clientele associates the name not only with menswear of exceptional quality and style, but also with highly-trained salespeople who are adept at helping them look their best,” he said. “You walk into Bachrach and they put together an entire outfit for you, right down to the tie pin and the pocket square.”
The store closings are underway at malls and other retail properties in Texas, Virginia, New Jersey, Tennessee, Michigan, Wisconsin, Indiana and Illinois.
The inventory being sold includes double-breasted, slim-fit, modern-fit and three-piece suits; dress shirts, sport shirts and sweaters; dress and casual pants; denim and jeans; coats, blazers and vests; and accessories such as ties, label pins, cufflinks and pocket squares, most of which are from the Bachrach brand. “Bachrach is well-known for the way it balances universal appeal while always staying edgy,” Carpenter said. “All of the elements of Bachrach’s signature look, from boutonnieres to blazers, are available.”
Best known in the Midwest, the chain had at one time operated 32 stores. “Margins in the menswear sector have been shrinking due to declining foot traffic at malls, stiff competition from e-commerce retailers and significant shifts in consumer spending patterns,” Carpenter noted. “Unfortunately, Bachrach’s store locations were unable to survive these competitive pressures, despite its strengths, such as high-quality merchandise and customer service.”
Furniture, fixtures and equipment in the 14 stores are also available for purchase. Online shoppers will also find discounts of up to 50 percent off at Bachrach.com for approximately the next four to six weeks.
Posted March 5, 2018
Source: Tiger Group