San Antonio-based women’s apparel and accessories retailer A’Gaci filed for bankruptcy protection on Tuesday, seeking to reorganize its $62 million in debt amid poor financial performance on a failed expansion, hurricanes and other troubles, the San Antonio Express-News reported. A’Gaci is seeking bankruptcy court approval to close 49 of its 78 stores, a bankruptcy court filing shows. Twenty-one of its 34 stores in Texas are on the closure list. David Won, A’Gaci’s chief merchandising officer, couched the store closings by saying that some could remain open if it’s able to negotiate more favorable lease terms and rent reductions from landlords.
