S&K Menswear Begins Closing 30 Stores
S & K Famous Brands, which operates the S & K Menswear retail chain, gained bankruptcy court approval to begin closing 30 of its remaining 136 value-priced men's clothing stores.
In the year before the company's bankruptcy filing, S & K closed 78 stores and cut jobs as it tried to stay afloat. But merchandise vendors began demanding cash in advance as the U.S. economy declined, making it difficult for the company to buy as much inventory as it needed, S & K told the court last week.
The men's clothing retailer has about 1,095 full and part- time employees and operates about 136 stores under the name S & K Menswear, mostly in the Carolinas and mid-Atlantic states.
S & K began in 1967 and grew to more than 200 stores.
In the year before the company's bankruptcy filing, S & K closed 78 stores and cut jobs as it tried to stay afloat. But merchandise vendors began demanding cash in advance as the U.S. economy declined, making it difficult for the company to buy as much inventory as it needed, S & K told the court last week.
The men's clothing retailer has about 1,095 full and part- time employees and operates about 136 stores under the name S & K Menswear, mostly in the Carolinas and mid-Atlantic states.
S & K began in 1967 and grew to more than 200 stores.