Chapel Hill, NC-based Southern Season has filed for chapter 11 bankruptcy.
According to the News & Observer, the company filed for bankruptcy protection while re-structuring its business model to focus on its smaller-scale stores and online sales.
The company shuttered its Richmond store in April and recently announced the closing of its Mt. Pleasant, SC-based location as well. However, Southern Season will open a store in the Buckhead section of Atlanta, GA this summer and will continue to expand its A Taste Of Southern Season locations.
“We built a really loyal following there but it wasn’t big enough to support the size of the store,” Brian Fauver, CFO, told News & Observer. “With these big stores come liabilities that are not part of our go-forward plan.”