Redcats USA would now prefer to sell United Retail Group because they feel that Avenue hs not been bring in enough sales or success. By selling United Retail, Redcats would have a better opportunity to focus on working on other businesses and prospective brands. Supposedly, United Retail owes a debt of around 67 million dollars and has been looking for options that will keep it in operation until it finds another corporation to sell itself to for the chance to keep Avenue.
Obviously, for United Retail to have a debt of 67 million dollars, there has been a noteworthy problem with Avenue and other related businesses for some time. The risk of the business should have been apparent within a short amount of time. One can only wonder why United Retail didn't sell Avenue or try a different alternative instead of allowing it to fall into bankruptcy.
Do you think that Avenue will go out of business or will United Retail be able to salvage its name?