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.
This story first appeared in the January 21, 2014 issue of WWD. Subscribe Today.
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.