Annie Sez and Mandee’s parent company files for bankruptcy
Blaming Hurricane Sandy for store closures, Big M, a New Jersey-based company that owns Mandee and Annie Sez filed for Chapter 11 bankruptcy on Monday, with liabilities of $50 million to $100 million.
Mandee and Annie Sez, low-priced clothing retailers, have locations throughout the Hudson Valley and Fairfield County, Conn. Several Annie Sez and Mandee stores in Staten Island were forced to close in the wake of the storm.
Big M owes money to more than 1,000 creditors, including White Plains-based Acadia Realty Trust, which is owed $203,000 in back rent.
Last year, Big M closed several stores and reduced overhead costs, and said it will close a handful of stores in the wake of the bankruptcy filing, but did not specify locations.