Mark Shale Announces Filing of Chapter 11

Aug 21, 2012, 11:30 ET from Mark Shale

CHICAGO, Aug. 21, 2012 /PRNewswire/ -- Mark Shale, the Chicago-area high-end fashion retailer, announced today that it has filed a voluntary petition for Chapter 11 business reorganization in the U.S. Bankruptcy Court of the Northern District of Illinois.

Mark Shale's President Rich Myers said: "We have tried since Mark Shale was acquired to ensure the lasting success of this 83-year-old Chicago icon. The company has always sought to bring quality and outstanding service to high-end fashion. We are proud to have some of the most experienced and loyal employees in the business, from sales associates, to tailors, to warehouse staff, to buyers and managers.

"Unfortunately, in the current economic environment and despite our significant efforts over the past few years, we have concluded that a Chapter 11 filing was the Company's best alternative. We continue to seek a strategic partner to fortify the business.  In the meantime, all three of our stores – at 900 N. Michigan Avenue, Oakbrook Center and Northbrook Court – will, as always, provide the highest level of service to our customers."

Founded in 1929, Mark Shale has been one of Chicago's premier providers of men's and women's clothing. Known for its extraordinary customer service and timeless clothing collections, Mark Shale has consistently been named one of the best stores in the United States by Esquire Magazine.

SOURCE Mark Shale