Fashion to Figure Files For Chapter 11

After announcing the closing of half of its brick-and-mortar shops last month, plus size retailer Fashion to Figure has filed for bankruptcy this week.

As reported by The New York Post, the retailer filed for chapter 11 on Monday in Newark, New Jersey. Fashion to Figure currently has 26 stores open and listed $1 to $10 million in assets and the same amount in liabilities, according to the filing.

When filing for chapter 11, the company in question usually proposes a plan of reorganization to keep its business alive and pay creditors over time. Fashion To Figure's earlier plan to downsize could be part of their plan to keep the business running.