Anchor Blue Closing 46 Underperforming Stores

Store Closing Sales Start Friday, June 19th

ONTARIO, Calif., June 19 /PRNewswire/ -- Anchor Blue, a specialty retailer of casual apparel and accessories for the teenage and young adult markets with 177 stores across 12 states, is closing 46 underperforming stores as part of its overall restructuring plan. A massive store closing sale kicks off Friday, June 19th at all stores earmarked for closing and will last until all merchandise is sold.

"These strategic store closings will help us significantly improve operational performance as we proactively restructure our business to conform to today's market," said Thomas Sands, Chief Executive Officer at Anchor Blue Retail Group. "Anyone who lives near a closing store is encouraged to take advantage of the tremendous values we're offering on all merchandise during the sale."

Anchor Blue has lowered prices on its entire inventory in all 46 closing stores, with savings up to 40% off regular prices. Girls can find incredible savings on everything from tops; jackets and hoodies; shorts; jeans; pants and crops; dresses; accessories; backpacks and bags; fragrances; jewelry; sunglasses; intimates; hats; shoes; and belts. Guys can find great deals on screen tees, shirts and polos; jeans; shorts; accessories; backpacks; belts and buckles; and hats.

Beginning as Miller's Outpost in 1972, the company changed its name to Anchor Blue in the late 1990s to reflect the fact it marketed, distributed and sold its own line of jeans and other clothing and accessories in it stores. Anchor Blue has always been driven by the desire to succeed in the retail business while helping to build better communities. Even in today's challenging retail market, this guiding principle remains an integral part of the company.

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, real estate and industrial sectors, is running the store closing sale on Anchor Blue's behalf.

To view a list of all Anchor Blue stores earmarked for closing, visit: www.gbcorp.com/anchorblue or see list below.

    Mohave Crossroads                     Bullhead City         AZ
    Desert Ridge Marketplace              Phoenix               AZ
    Tempe Marketplace                     Tempe                 AZ
    East Hills Mall                       Bakersfield           CA
    Streets of Brentwood                  Brentwood             CA
    Sunrise Mall                          Citrus Heights        CA
    Manchester North SC                   Fresno                CA
    Hanford Mall                          Hanford               CA
    Del Monte Center                      Monterey              CA
    Mervyn's Plaza                        Redwood City          CA
    The Village at Sacramento Gateway     Sacramento            CA
    Oakridge Mall                         San Jose              CA
    State Street District                 Santa Barbara         CA
    Turlock TC                            Turlock               CA
    County Fair Mall                      Woodland              CA
    The Mall At Yuba City                 Yuba City             CA
    Chapel Hills Mall                     Colorado Springs      CO
    Foothills Mall                        Fort Collins          CO
    Altamonte Mall                        Altamonte Springs     FL
    Boynton Beach Mall                    Boynton Beach         FL
    Westfield Brandon                     Brandon               FL
    Westfield Countryside                 Clearwater            FL
    Coral Square                          Coral Springs         FL
    Edison Mall                           Fort Myers            FL
    Treasure Coast Square                 Jensen Beach          FL
    Lakeland Square                       Lakeland              FL
    Melbourne Square                      Melbourne             FL
    Coastland Center                      Naples                FL
    West Oaks Mall                        Ocoee                 FL
    Prime Outlets Mall 2 (AB Outlet)      Orlando               FL
    Florida Mall                          Orlando               FL
    Seminole TC                           Sanford               FL
    Sarasota Square                       Sarasota              FL
    Tyrone Square                         St. Petersburg        FL
    Governor's Square                     Tallahassee           FL
    University Mall                       Tampa                 FL
    Oglethorpe Mall                       Savannah              GA
    Boise Towne Square                    Boise                 ID
    Town Square                           Las Vegas             NV
    Newgate Mall                          Ogden                 UT
    University Mall                       Orem                  UT
    Provo TC                              Provo                 UT
    Red Cliffs Mall                       St. George            UT
    Kitsap Mall                           Silverdale            WA
    North Town Mall                       Spokane               WA
    Westfield Vancouver Mall              Vancouver             WA

About Anchor Blue Retail Group

Anchor Blue Retail Group is the holding company for two subsidiaries -- Anchor Blue Division and Levi's(R) & Dockers(R) Outlet by MOST Division. Anchor Blue is a specialty retailer of casual apparel and accessories for the teenage and young adult markets. Founded in 1972, the Company has 177 stores in 12 states. Anchor Blue offers a great assortment of well-priced fashion basics with West Coast style in a fun environment. MOST is an outlet store retailer that holds the exclusive U.S. license for Levi's(R) Outlet & Dockers(R) Outlet Stores. Known for its denim apparel and reasonable prices, MOST operates 74 stores across the U.S.

About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.

SOURCE Gordon Brothers Group