Avenue Stores LLC, owned by private-equity firm Versa Capital Management, has decided to shutter all 222 of its retail locations, Hilco Merchant Resources said in a statement announcing the closures, Bloomberg News reported. The company, which operates in 33 states, has hired Hilco and Gordon Brothers to oversee inventory sales. The specialty plus-sized apparel industry has been under pressure as online rivals like Amazon.com Inc. and big-box retailers from Walmart Inc. to Target Corp. increasingly compete in the space. Plus-sized women’s retailer Fullbeauty Brands Inc. filed for chapter 11 earlier this year before winning court approval for its plan to restructure the company in less than 24 hours.
