Charming Shoppes Closing 100 More Stores

BENSALEM, PA-Charming Shoppes, the owner of the Lane Bryant, Fashion Bug and Catherine’s Plus Sizes chains is closing 100 more stores in addition to the 150 management had already identified for dispositions. A majority of the closures will take place in the 911-unit Fashion Bug chain, but the company will also shut stores in its other chains.

Management hopes the closings, along with other measures, will bring an eventual $100 million to $125 million in cost reductions at the retailer. “We feel we are playing strong defense in this brutal retail environment,” said Alan Rosskamm, chairman and interim chief executive officer, during the company’s third-quarter conference call.