Home / Knowledge / News / Apparel/Garments / Anchor Blue to sell its assets through Chapter 11
Anchor Blue to sell its assets through Chapter 11
Jan '11
Anchor Blue Inc and its parent, Anchor Blue Holding Corp, a specialty retailer of casual apparel and accessories for the teenage market, today announced that the Company has filed a petition for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code with the Bankruptcy Court for the District of Delaware.

In connection with the filing, Anchor Blue plans to implement the orderly liquidation of all of the Company's assets, and has begun going out of business sales at all of its retail stores. All Anchor Blue stores are stocked with fashionable merchandise, and will remain open for business in the immediate future, with strong discounts offered to consumers to sell off the inventory and maximize store sales throughout the wind-down period. The Company has requested full authority to pay employee wages and benefits on an uninterrupted basis through the end of the wind-down process.

Anchor Blue said that when it emerged from a restructuring in August 2009, the Company worked to implement a series of initiatives to position the business for future growth, including introducing new merchandise, reducing overhead costs, launching a new store concept, and bolstering its executive team.

However, Anchor Blue has continued to face strong headwinds from product promotions and discounts offered by larger retailers and unusually disruptive weather conditions in Southern California where the majority of its stores are located. Additional capital was injected into the business in November 2010 to help Anchor Blue through the holiday season, but the Company suffered severe sales declines in December which further eroded its financial position.

After extensively exploring alternatives following thorough consultation with its legal and financial advisors, Anchor Blue determined that an orderly sale of its assets through a Chapter 11 process is the most prudent and effective means of maximizing value for the Company's stakeholders.

Legal advisors to Anchor Blue were Morgan Lewis, and financial advisors were FTI Consulting.

Anchor Blue Inc is a specialty retailer of casual apparel and accessories for the teenage market. Founded in 1972, the Company has 117 stores primarily located in California. Anchor Blue offers a great assortment of well-priced fashion basics with West Coast style in a fun environment.

Anchor Blue Inc

Must ReadView All

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search