Bill Soncini

Frederick's of Hollywood, a purveyor of racy women's lingerie for almost seven decades, is reportedly shedding one-third of its 93 stores. The Los Angeles-based retailer has hired liquidator Great American Group to help wind down operations for at least 31 of its stores, which will close in the coming months, The Wall Street Journal reported on Thursday. Bill Soncini, Frederick's chief operating officer, told WSJ that the number of store closings could increase slightly. The company will shutter its flagship store in Hollywood in April.