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In a tumultuous year for retailers that's already seen a slew of store closings and five bankruptcy filings, risqué lingerie shop Frederick's of Hollywood told The Wall Street Journal that it will close at least one-third of its stores, in an effort to turn around the business.
"Landlords have been very, very agreeable of letting us out of some very unprofitable locations…. These stores should have been closed years ago," Frederick's Chief Operating Officer Bill Soncini told the publication.
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The company currently operates 93 stores in 27 states.
The retail sector has been pinched by a number of factors, including the shift to e-commerce, emerging companies, and what many consider to be an inundation of stores. This has led to bankruptcy filings from RadioShack, Wet Seal, Caché, C. Wonder and SkyMall just in this calendar year.