True Religion To Close Miami Beach Store

MIAMI BEACH, FL — Clothing retailer True Religion announced that it is closing its Miami Beach store as part a bankruptcy filing. It is the latest high-profile retailer to fall on hard times as 2017 shapes up along a record pace for bankruptcies in the retail industry. The chain still has three other locations in Miami-Dade but also plans to close two other stores in nearby Broward and Palm Beach Counties.

The Miami Beach store is located at 644 Collins Avenue in South Beach. (Sign up for our free Daily Newsletters and Breaking News Alerts for the Miami Beach Patch.)

True Religion Chief Executive John Ermatinger said in a statement to Fortune that the company is using bankruptcy laws to close, consolidate or renegotiate leases for underperforming locations. As it closes stores, the company will look more to online sales.

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Fortune reports that True Religion is the 23rd retailer to file for bankruptcy in 2017. Brands such as The Limited, hhgregg and Wet Seal have already closed all of their stores. This year is on pace for a record number of bankruptcies among retailers.

Other Florida True Religion locations that are being shuttered include The Gardens at Palm Beach Gardens and the Town Center at Boca Raton, according to a list published by USA Today.

Patch editor Emily Leayman in Virginia contributed to this report.

Image via Clotee Pridgen Allochuku/Wikimedia Commons