Los Angeles apparel chain Metropark USA Inc. has filed for bankruptcy and is shutting all 69 stores, including 18 in California.
Metropark, a specialty retailer that has catered to the 25- to 35-year-old market, is known for offering a shopping experience that was part store, part club. Despite a rapid expansion, the company has struggled to become popular among young adult shoppers and sales fell sharply during the economic downturn.
The company filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Southern District of New York.
On Thursday, Metropark stores began offering 20% to 40% off all merchandise, including items from True Religion, Diesel, Rock & Republic and BCBG. The stores are also selling high-end DJ equipment, flat-screen televisions, apparel racks, shelving and lighting, according to two firms hired to run the going-out-of-business sales.
Metropark operates stores in 21 states. Its California locations include stores in Los Cerritos Center, Glendale Galleria, Westfield Santa Anita and Irvine Spectrum Center.
In a statement, Metropark Chief Executive Cynthia Harriss said the chain's customers had "shown us great loyalty over the years."