Fashion Review Australia first reported about the struggle of Peter Alexander stores in the US here.
The performance of the two remaining Peter Alexander stores, combined with the tough retail conditions faced in the US have led to the shops closures. Peter Alexander and the US dream is no more.
The Just Group owns the Peter Alexander chain of stores. Solomon Lew Premier Investments acquired The Just Group in September 08. The remaining 25 stores in Australia and 2 in New Zealand are reported to be performing well and are unaffected by the decision to shut up shop in the US.
The closure of Peter Alexander in the US is not the first casualty of the slowing global econnomy. Herringbone, Australia’s mens and womens clothing and fashion retailer was purchased by German company Van Laac. Lisa Ho dumped Mad Cortes, and Morrissey have shut up shop.
Even legendary french fashion designer Christian Lacroix recently filed for voluntary bankruptcy.
Tough times call for tough measures – We’re sure more fashion shop closures, brand takeovers and bankruptcies are to come.