S&K Menswear confirms closing; sales begin today
S&K Menswear confirmed today that it will close its 105 stores, with going-out-of-business sales beginning today.
The company is currently offering savings of up to 50 percent off regular prices. Existing S&K gift cards will be honored throughout the sale.
The company has stores in Greensboro, Burlington and Winston-Salem, according to its Web site.
"In spite of our best efforts, the current economic climate left us with no choice but to close down the business," Jonathan Tibus, chief restructuring officer at S&K Menswear, said in a news release.
A federal bankruptcy judge in Richmond approved S&K Famous Brands Inc.'s plan Wednesday to sell its assets to a liquidator.
The sale will be administered by Gordon Brothers Retail Group, which won an auction to acquire the assets of S&K.
S&K filed bankruptcy in February in hopes of reorganizing its troubled finances in Chapter 11.
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