The exact number of stores that will emerge from the one-time 126-store chain is undetermined but it is estimated to be 60-70, contingent on landlord negotiations, in an effort to reduce expenses for the liquidity-challenged retailer. Meanwhile, it continues to have a liquidation plan, but has consistently described this as a backup plan required by the creditors, and its intention is to reorganize and emerge as a smaller chain of urban stores.

At this point, it has lined up a more favorable lending deal from Nike that is giving it access to merchandise for the ... Log in to view full article.