Good News for A’Gaci: Stores Will Remain Open

A’Gaci LLC, a San Antonio-headquartered women’s apparel and accessories retailer, filed for Chapter 11 bankruptcy protection in an effort to reorganize its $62 million in debt, resulting from poor financial performances. On the positive side, however, the company will be spared from liquidation, and will get to keep a majority of its stores open.

When the company filed for bankruptcy, it was thought that up to 49 of the company’s stores would be closed. However, A’Gaci’s counsel, Haynes and Boone LLC, indicated that 1,500 employees will keep their jobs, and 55 of the company’s 78 stores will remain open.

The company temporarily closed 24 stores in Texas, Florida and Puerto Rico following Hurricanes Harvey, Irma and Maria during late 2017.

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