Profile: Factory 2-U Stores Inc (FTUSQ.PK)
23 Apr 2015
Factory 2-U Stores, Inc., incorporated on March 6, 1987, operates a chain of off-price retail apparel and housewares stores in the United States. As of April 23, 2004, the Company operated 195 stores located in seven states, under various operating leases with third parties. The Company's stores are generally located in shopping centers in densely populated urban areas, lower to moderate-income suburban communities and certain rural locations. On January 13, 2004, the Company filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Code in the Court.
The Company purchases merchandise from manufacturers, jobbers, importers and other vendors in the United States. Unlike traditional department stores and discount retailers (that primarily purchase merchandise in advance of the selling season, for example, back-to-school is purchased by March), Factory 2-U primarily purchases merchandise in-season (during the selling season). These in-season purchases generally represent closeouts of vendors' excess inventories remaining after the traditional wholesale selling season and are often created by other retailers' order cancellations.
Factory 2-U Stores Inc
4000 Ruffin Rd
SAN DIEGO CA 92123