Multibrand retailer Intermix (New York) has closed 17 of its remaining stores, leaving it with five still operating, Women’s Wear Daily reports. Sources told the fashion newspaper that owner/private equity firm Regent LLP’s (Los Angeles) plan for Intermix is to file for Chapter 11 bankruptcy, renegotiate the leases, reopen some stores and then start up again immediately as a new company.
Regent, which also has investments in such retailers as Club Monaco and Escada, bought Intermix late last year from Altamont Capital Partners (Palo Alto, Calif.), WWD reported in an earlier story.
The retailer’s name reflects its central strategy, which involves “buyers visiting hundreds of brands spanning the globe, selecting their favorite pieces, designers and trends,” its website says. “The result? A curated selection of the best styles across a mix of established and emerging designers.”