September 30, 2020
Uncategorized

Bachrach President Talks New Brand, Growth Opportunities

One-hundred twenty days. Maybe men’s retailer Bachrach could get an award for that.
In four months and at a cost of about $1.3 million, the company filed for Chapter 11, reorganized and emerged nine stores lighter, armed with a new plan for its future.
“The most important thing that we had to accomplish was to close the non-performing stores,” said president Brian Lipman of the bankruptcy’s objective. “Our portion of stores was spread between A, B and C malls. We’re a 100 percent mall-based retailer and some of the locations we had were either in the wrong malls for the product price point we sell or the occupancy costs were just out of the stratosphere. We just couldn’t make money in those doors. And that’s what we accomplished.”
Bachrach, via its in-court restructuring, closed nine doors and now has a fleet of 15 along with e-commerce, in both of which the company sees growth opportunities. While the retailer will consider store growth, that will be in existing markets and will avoid spreading the business too thin, which was one of its issues pre-bankruptcy, Lipman said. It will also look to nab a new, younger customer with the launch of a more fashion-forward, digital

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