Bankruptcy: Perfumania joins companies seeking to restructure | The Colpitts Law Firm
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Bankruptcy: Perfumania joins companies seeking to restructure

As more and more people become accustomed to the convenience of online shopping, companies with stores that rely on brick and mortar locations have begun to struggle. Several different businesses, including Sears and KMart, among many others, have experienced difficulties. Recently a company with a location in Oklahoma has recently made the decision to file for bankruptcy.

The company, Perfumania, specializes in fragrances and perfumes. A representative for the company claims that efforts have been focused on amending its business model and reducing expenses and its cost structure, among other goals. The spokesperson claims that the recent decision to seek bankruptcy protection will allow the company to move toward its goals faster in order to protect the long-term success of the company.

As part of the plan, the company hopes to shift more effort toward an online model. It also plans to close over 60 locations, approximately 25 percent of its 226 stores located across the country. While it has not announced which specific stores will close, a representative claims that those likely to shut down are ones that have been underperforming and/or see reduced foot traffic in malls.

There are many businesses in Oklahoma that have personnel who are dedicated to the overall success of the company. Unfortunately, there are often factors that are beyond their control preventing the businesses from realizing the success of which they are capable. Filing for bankruptcy can allow struggling companies to restructure and move resources into efforts that are beneficial for financial security and future success.

Source:, "Perfumania files for bankruptcy, plans to close 64 stores", Leada Gore, Aug. 28, 2017

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