Is Intermix Going Out of Business?
If you are a fashion enthusiast, you must know the iconic name of the fashion industry, Intermix. Intermix is a big fashion retailer and is a hub of many big brands that people really love. However, lately, this retailer has been facing many difficulties, such as loss of sales and revenue. They also faced bankruptcy. All these business difficulties have made people question, “Is Intermix going out of business?”
If you are also wondering the same, you must read this article. Here, we will answer your query and find out if this iconic retailer is really shutting down or not. So, stay around us and read till the very end to uncover the facts!
Everything You Need to Know About Intermix
Two siblings, Khajak and Haro Keledjian, started Intermix in 1993. Their mission was to make a heaven or a fashion hub for all fashion enthusiasts. For this, they started Intermix, which ultimately became a giant retailer in the fashion industry.
Intermix is not like any ordinary fashion retailer. In fact, it offers quality and a wide range of brands. At Intermix, you can find a wide variety of all big brands. In 2012, Intermix was acquired by another big company named, Gap Inc. for around 130 million dollars. Moreover, on 21 May 2021, the company named, Almost Capital Partners acquired Intermix. Today, Intermix is operated at many locations as an iconic name in the fashion industry. This retailer offers a wide collection of women’s clothing which makes it a heaven for women.
Is Intermix Going Out of Business?
Are you wondering, “Is Intermix going out of business?”
No, Intermix is not shutting down or leaving the business. There is no official news related to its closure, as the company has not given any statement. It is true that the company is facing many financial difficulties and has also closed some locations. However, these closures and business difficulties do not mean that the company is leaving the business. They are still around and operating at many locations.
Moreover, this giant retailer also faced some challenges like ownership changes and bankruptcy. These business difficulties made people think that they are shutting down. But, difficulties are part of every business, and the fashion industry is really saturated and high competition makes businesses suffer.
But, the point worth noting is that, Intermix faced all these challenges with determination and made to stay in the business. They have never compromised on their quality, and thus, people still love them for their services and wide range of products. So, you must not worry about Intermix leaving the business because you can still visit them and buy your favorite clothes.
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Is Intermix Closing the Stores?
Recently, there has been much news related to the Intermix store closure. People are wondering, “Is Intermix closing the stores?” Yes, Intermix is indeed closing its stores at many locations. Intermix has closed almost 17 stores at different locations. These closures were really hard for the retailer to make. Moreover, their customers were also greatly affected by these closures. But the good news is that they are still in business and operating at some locations. So, you can still visit their nearest stores and enjoy their quality clothes.
Why Is Interimix Closing the Stores?
As we have discussed, Intermix has announced the closure of almost 17 different locations. Now, let’s discuss the reasons behind these closures. Intermix faced some business difficulties, such as financial problems and loss of sales and revenue. These problems made them close some locations that were costing more and earning less. This was their strategic move to overcome the financial issues.
Moreover, over time, customer preferences also changed. The market competition also rose, which negatively impacted their business. The fashion industry is highly competitive. Businesses usually struggle and find it hard to stay in the competition. The same thing happened with Intermix. Many other retailers came into the market with better ideas that attracted many more customers. This competition became a hurdle for Intermix. So, they decided to close some locations in order to increase their sales and improve their services.
Also, high business costs, such as rents, and employees'’ salaries, etc also impacted Intermix. These difficulties resulted in the closure of some Intermix locations. However, Intermix is still in the business and operating at many locations. So, these closures do not mean the retailer is leaving or closing down for good.
Intermix Chapter 11 Bankruptcy
Intermix faced many financial problems, and to get rid of these difficulties the owner, Regent LLP, filed Chapter 11 Bankruptcy. This was a strategic move to overcome the business loss and other problems. This bankruptcy will help the retailer to reopen many locations. It will also help them to improve their sales and services which will ultimately increase their profit and revenue. Moreover, Chapter 11 Bankruptcy may also help Intermix to open new locations. Overall, the bankruptcy was an important and clever move from the owner to save the business from further loss.
At which Locations is Intermix Still Operating?
Although Intermix has closed many locations, it is still operating at around 5 locations. Here are the five locations at which Intermix is still operating:
Brickell City Centre in Miami
1003 Madison Avenue in New York
Palm Beach, Florida
You can visit any of these Intermix locations to get a huge variety of quality brands under one roof.
Is Intermix Going Out of Business - Bottom Line
So, the answer to your query, “Is Intermix going out of business?” is simply NO. This retailer is not leaving the fashion industry. Although, Intermix faced many challenges and business ups and downs nothing made him get out of business. Intermix closed around 17 locations, but today, it is still operating at 5 locations. This suggests that they are not leaving the market and are still selling. Moreover, they have filed for Chapter 11 Bankruptcy which will help them improve their operations and allow them to open more locations.
So, visit the nearest Intermix location and get the prettiest dress to charm like a princess. Happy shopping!