Fashion Bug is a popular store across the country with hundreds of locations. There is even one in Lemon Grove -- the only one in San Diego County. But it will not be there for long, as the company is officially closing its doors. As a part of the pending business dissolution, the retail chain has already shut down operations at 124 of its locations across the country.
Including the store in Lemon Grove, there are approximately 600 stores remaining across the nation that will all close by early 2013.
Fashion Bug is a popular plus size store that offers clothing that is on par with current fashion trends. Many female consumers love the on-trend options for women's size 6 and above clothing -- something many plus size stores fail to pay attention to.
The decision to dissolve came after Fashion Bug's parent company, Charming Shoppes was sold. The acquisition was made by a New York-based company called Ascena Retail Group. Charming Shoppes also operates the plus size stores Lane Bryant and Catherines Plus Sizes. With the acquisition, the new combined company has a total of 3,800 stores and $4.4 billion net sales.
Business dissolution requires the same if not more attention than the formation of a business often does. A company cannot simply close its doors and walk away. There is a lot of preparation involved in the process, including terminating third-party contracts, ending employment, selling real estate or terminating a lease and satisfying debts. An attorney can assist in the proper closing and protect business owners from possible liability that can often arise in these types of situations.
Source: U-T San Diego, "Local Fashion Bug Store to Close in 2013," Tanya Mannes, June 21, 2012
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