Bachrach Seeks Bankruptcy Court Approval to Close 12 Stores

Bachrach Seeks Bankruptcy Court Approval to Close 12 Stores
Kari Hamanaka
Men's retailer B&B Bachrach LLC has outlined a plan in bankruptcy court that, if approved, would allow it to emerge with a much lighter fleet of stores. The Los Angeles-based company, which filed for bankruptcy protection Friday, has asked a bankruptcy court judge to approve the closure of 12 underperforming doors while keeping the lights on at 11, according to a declaration by the company's majority owner Brian Lipman. Confirmation of the plan is estimated to occur by August, a date which Lipman said in his declaration would allow the company to turn cash flow positive and continue operations. This isn't the company's first go at bankruptcy. Bachrach sought Chapter 11 relief in 2006, a year after Sun Capital Partners' acquisition of the business from the Bachrach family, which founded the company in 1877. The chain peaked with 79 doors. Lipman, who had previously been a supplier to the company before leading a consortium to buy the business out of its first bankruptcy for $12 million, told WWD in 2007 he planned to grow the chain to somewhere between 100 and 150 doors. More recent market realities haven't helped the business and Bachrach is now one in a string of retail bankruptcies to hit

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