Women’s specialty chain Joyce Leslie has reached the end of the line.
Going-out-of-business sales at all 42 locations will begin on Friday, with Gordon Brothers Group handling the GOB sales. Discounts of up to 50 percent are expected on its remaining inventory of dresses, tops, denim, swimwear, handbags, footwear and accessories.
Celia Clancy, chief executive officer of the specialty chain, said, “Unfortunately, our efforts to find a strategic partner to help save the business were not successful. We are saddened to say that we now have to close our doors.”
The retailer filed a voluntary petition for Chapter 11 bankruptcy court protection in White Plains, N.Y. At the time of the filing, a liquidation was the expected end result, even though the company tried to find a buyer.
Julius Gewirtz and his wife Hermine founded the chain in 1947. It targets young women between ages 15 to 35. Their daughters Joyce Gewirtz Segal and Nancy Shapiro own the company’s stock. Each holds a 50 percent stake.