Sunglasses Retailer Solstice Files for Chapter 11 Bankruptcy

Solstice Marketing Concepts LLC filed for Chapter 11 bankruptcy in New York with plans to shrink its store count, court papers show.

• The company intends to “rationalize” its leases and debt load “in a manner that preserves as many jobs as practicable” with plans to emerge from bankruptcy as a going concern, according to its Chapter 11 petition
• Solstice has stores at malls and outlets across the U.S., along with an outpost at John F. Kennedy International Airport, according to its website
• The retailer intends to obtain as much as $6.5m of bankruptcy financing with Second Avenue Capital Partners as ...