Dive Brief:

• Lingerie retailer Frederick’s of Hollywood has turned to liquidators to close a third or more of its stores.

• The Los Angeles-based retailer will close at least 31 of its 93 stores, according to COO Bill Soncini, including the company’s iconic flagship Hollywood store.

• The struggling company is exploring its “strategic options” and aiming for a turnaround.

Dive Insight:

Frederick’s of Hollywood, founded in 1947 by the inventor of the push-up bra, may have leaned on its iconic name and traditional catalog and brick-and-mortar approach a bit too long. The brand has struggled for years with few updates in its e-commerce game and has fallen under the shadow of mainstream brand Victoria’s Secret. The retailer has faced bankruptcy and went private in 2013 in an effort to reorganize.

The retailer, meanwhile, hasn't diversified much, though. In an era when lingerie for many people means boyshorts and athletic bras, the retailer’s name pretty much still stands only for push-up bras and slinky garments. 

“We’re in the process of re-engineering the whole business,” Soncini told the Wall Street Journal. “Landlords have been very, very agreeable of letting us out of some very unprofitable locations…These stores should have been closed years ago.”