Simply Fashion Files Chapter 11 Bankruptcy

Simply Fashion Stores has filed for Chapter 11 bankruptcy protection and said it plans to liquidate substantially all of its assets. The Birmingham, Ala.-based urban fashion retailer, which operates nearly 250 stores in 25 states, said declining sales was one of the primary factors behind the bankruptcy. In a court filing, the restructuring officer for the retailer said the company expects some Simply Fashion locations will be forced to close as part of the process. The filing didn't disclose how many stores would close. The company has 1,332 employees.