fashion-scoops
fashion-scoops

Dots Planning Prepackaged Bankruptcy Filing

Financial sources said the company has been in talks to find a buyer, but that some of those discussions stalled.

DOTS PLANS PRE-PACK BANKRUPTCY: Women’s value retail chain Dots is said to be planning a prepackaged bankruptcy filing, sources said. Financial sources said the company has been in talks to find a buyer, but that some of those discussions stalled.

One source said that Dots’ current lender, Salus Capital Partners, is working on lining up debtor-in-possession financing. Executives at Salus declined to comment.

An individual familiar with the real estate market said there have been rumblings about store closures for the past month, although that was left up in the air while the chain was in talks to be acquired last month. Its locations are primarily in strip malls. Another market source said those discussions fell through last week.

Dots, which operates more than 400 stores, is owned by Irving Place Capital. John Howard of Irving Place declined comment.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false