Abercrombie & Fitch Co. closed at Beachwood Place in Beachwood Jan. 18 and Papyrus will also close, in addition to GAP, which announced its closure earlier this week.
Abercrombie & Fitch’s website no longer lists a location in Beachwood.
Papyrus announced it will close all stores nationwide, after its parent company filed for Chapter 11 bankruptcy in Delaware.
Gap, Inc. will close its Beachwood store Jan. 26, the CJN previously reported.
Brookfield Properties, which owns Beachwood Place, referred all comment to its tenants.
Hollister, a sister store to Abercrombie & Fitch, remains open at Beachwood Place, with no plans to close.
“We put the customer at the center of everything we do, and we are constantly evaluating our stores to ensure we are meeting our customers’ needs, which sometimes involves relocating or closing a store as a result,” a spokeswoman wrote in an email to the CJN. Abercrombie & Fitch owns Hollister.
“As a company, we believe stores matter – we opened more than 34 new store experiences for our customers in Q3 ’19 alone – and we continue to focus on optimizing our store fleet, as well as providing an engaging online experience, where we know many of our customers begin their shopping journey,” she continued.
There are no other Ohio closures to announce at this time, the company spokeswoman said.
Papyrus will close within four to six weeks as its parent company, Schurman Retail Group, liquidates the business. Five employees work at the Beachwood Place store.
Signs announcing 20% to 40% off were posted at Papyrus, along with "Everything Must Go."
SFP Franchise Corp. and Schurman Fine Papers of Goodlettsville, Tenn., filed voluntary petitions in U.S. Bankruptcy Court in Delaware on Jan. 20 seeking protection under Chapter 11.
Papyrus employees will be paid through the process as the company holds a going-out-of-business sale, according to a news release, and all suppliers will be paid going forward.
“The liquidation process relates to the company’s retail stores, including Papyrus, Paper Destiny and American Greetings/Carlton Cards,” the news release states. “In order to maximize the value generated through the orderly liquidation process, the company and related affiliates today filed for protection under Chapter 11 of the U.S. Bankruptcy Code and Canada's Companies' Creditors Arrangement Act."
“After careful consideration, it became apparent that the appropriate path forward is to ensure the company implements a process to maximize value for all of our stakeholders,” said Dominique Schurman, Schurman Retail Group Chief Executive, in a statement. “We are confident that we can achieve that goal through an orderly and effective process over the coming weeks.
“I want to thank all of our employees for your hard work and commitment to making our brands so cherished and beloved by our loyal and valued customers,” she stated in the news release. “While this is not the outcome any of us wanted, I know that I can count on all of our employees to lead us through this process with the same diligence, responsibility and commitment to excellence you have always demonstrated.”