Don’t Miss the Liquidation Bonanza: Bankrupt Retailer in Texas Offers Massive Discounts I’ve extensively covered the challenges faced by Soft Surroundings, a women’s apparel and accessories brand. Recent developments in the past few days have added to the ongoing story.
Facing Bankruptcy
Established in 1999, Soft Surroundings opened its first store in 2005, eventually expanding to over 80 stores. However, financial difficulties led to the closure of twenty-five stores in 2021. In September of this year, the company sought protection from creditors in the U.S. Bankruptcy Court in Texas, filing for Chapter 11 bankruptcy.
Last week, a Texas bankruptcy judge approved the women’s apparel retailer’s plan, which includes a $22.7 million sale of its e-commerce platform and a $400,000 settlement for unsecured creditors. Reportedly, 65.4% of Soft Surrounding’s total sales are from online transactions. The company has decided to close all its stores across the United States, focusing exclusively on e-commerce.
Closing Sale in Progress
This week, liquidation sales have commenced in all stores, offering discounts ranging from 20% to 50% on all items, including casual wear, shoes, and home products tailored for women. The sale includes new arrivals perfect for holiday parties and gift-giving.
Notably, these discounts are exclusively available in physical stores and not online.
Durien Sanchez, Managing Director, Retail at Gordon Brothers, the company overseeing the liquidation sales, encourages consumers to shop early to seize the best selection of products and significant savings throughout the stores, while supplies last.
Texas Store Closures
The following Soft Surroundings stores in Texas will be closing and are currently running liquidation sales:
- 10000 Research Blvd., Suite #115, Austin, TX 78759
- 412850 Memorial Dr. Suite 1140, Houston, TX 77024
- 8201 Quaker Ave, Unit 116, Lubbock, TX 79423
- 1900 Preston Road, Suite #185, Plano, TX 75093
- 160 State Street, Southlake, TX 76092
A Challenging Year for Retail
This year has proven difficult for retail businesses, with several major chains, including Bed Bath & Beyond, Tuesday Morning, Party City, Christmas Tree Shops, David’s Bridal, and Mitchell Gold + Bob Williams, filing for bankruptcy and closing stores. Even retail giants like Walmart have faced store closures due to the challenging economic climate.
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