KITSON TO CLOSE ALL STORES
Kitson, the Los Angeles mini-chain known for its unique selection of merchandise and celebrity clientele, is in the process of closing its 17 brick-and-mortar locations as well at its e-commerce store, www.shopkitson.com. The stores are currently offering all items at discounts up to 50 percent.
Liquidation specialists Gordon Brothers Group and Hilco Merchant Resources have been selected to direct closing sales at all Kitson retail locations. However, the retailer is reportedly in discussion with other retailers to find options to preserve the brand.
The company, which was founded in 2000, has weathered various debt problems in recent years. It received a $15 million credit line from Salus Capital Partners in 2013, and most recently, received a substantial investment this summer from Spencer Spirit Holdings Inc., owner of novelty gift mall shops Spencer Gifts and Spirit Halloween Superstores.
