Local Stores Part of Anchor Blue Closures

Several local Anchor Blue stores will shut down as part of the clothing chain’s decision to close all of its 117 stores after it filed for bankruptcy. Local stores that are closing include those in Glendale, Northridge, Palmdale, Panorama City, Sun Valley and Valencia. Stores closures started on Jan. 7 and will continue until all merchandise is sold. Going-out-of business sales are being held for merchandise and store fixtures. Anchor Blue, Inc. decided to sell its assets through a Chapter 11 bankruptcy process after experiencing declining sales. The company, which was also trying to recover from a previous bankruptcy filing in 2009, attributed its struggles to competitive promotions and discounts offered by larger retailers and disruptive weather in Southern California. Since the company emerged from a restructuring in August 2009, it has tried recovery tactics such as introducing new merchandise, reducing overhead costs, launching a new store concept and bolstering its executive team. In November, additional capital was even injected into the chain to help with its holiday season. The retail chain started as Miller’s Outpost in 1972 and changed its name to Anchor Blue during the late 1990s. Jessica Vernabe