Dive Brief:
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Body Central, a 40-year-old old teen-apparel retailer with 265 “Body Central” and “Body Shop” stores in 28 states mostly in the Midwest and the South, is working on a bankruptcy filing after facing default on $18 million of debt, according to sources.
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The Jacksonville, FL-based company has been operating mostly in malls in recent years, which are losing favor among shoppers in the U.S.
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Founders Jerrold and Ronnie Rosenbaum opened their first Body Central store in Jacksonville in 1972.
Dive Insight:
As more mid-level or neglected malls continue to falter and close, mall-dependent retailers like Body Central will be doomed. Add on the woes of teen-apparel retailers — Deb Shops, Delia’s, and now Wet Seal are facing bankruptcy because they were unable to solve the problem of teens’ reluctance to spend — and Body Central has had iffy chances in the face of those pressures.