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Frederick’s Seeks Bankruptcy After Closing Lingerie Stores

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Frederick’s of Hollywood Group Inc., known for its racy women’s lingerie, filed for bankruptcy after closing all its stores and reaching a deal to sell the company as an online-only venture to Authentic Brands Group LLC.

The Los Angeles-based company notified customers on its website that it had closed all its brick-and-mortar locations. The company listed $36.5 million in assets and $106 million in debt in Chapter 11 papers filed Sunday in U.S. bankruptcy court in Wilmington, Delaware.