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Frederick's of Hollywood to Shutter Over 30 Stores

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Frederick's of Hollywood has had more than a few bankruptcy scares (and comebacks) since it was founded in 1945. And while its last attempt at upping profits centered around social media, this time the lingerie brand is cutting costs by closing over 30 of its stores, The Wall Street Journal reports.

"We're in the process of re-engineering the whole business," Frederick's of Hollywood's chief operating officer Bill Soncini said. "Landlords have been very, very agreeable of letting us out of some very unprofitable locations...These stores should have been closed years ago." The brand's Hollywood flagship is among the locations set to shutter, although there's still no word on whether or not the Staten Island and Jersey City outposts—which make up Frederick's of Hollywood's New York City presence—are safe.