Configure Partners Announces the Sale of Avenue Stores to City Chic

January 17, 2020

Atlanta, GA — Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce the successful execution of the sale of the e-commerce business of Avenue Stores, LLC (“Avenue” or the “Company”), a leading U.S.-based plus-size women’s retailer, to City Chic Collective USA Inc. (“City Chic”), an Australian-based specialty retailer. The sale was executed pursuant to §363 of the U.S. Bankruptcy Code and represented a unique retail transaction in that going-concern value was preserved through a sale of the company’s e-commerce channel, even as physical stores were closed.

Configure acted as the exclusive investment banking advisor to Avenue in connection with the sale of the Company’s e-commerce assets to City Chic. Configure led all aspects of the sale process, including positioning, buyer targeting and outreach, and negotiating the purchase agreement. Additionally, Configure managed the bankruptcy auction process, which yielded an approximately 75% increase in value.

Jay Jacquin, a Managing Director at Configure, added, “We are pleased to have helped achieve such a positive outcome for the Avenue e-commerce business, which will inure to Avenue’s creditors and other stakeholders. The sale was challenging given the rapid timeline with which the transaction needed to progress coupled with the contemporaneous winding down of the traditional brick and mortar stores base, which makes the transaction somewhat unique in the industry and hopefully a blueprint for value maximization in the future.”

About Avenue (
With a history dating back more than 30 years, Avenue is a leading U.S. specialty retailer of plus-size women’s apparel. Through strong consumer penetration with its three proprietary brands, Avenue, Loralette and Cloudwalkers, the Company has amassed a loyal following amongst women sizes 14-32. Prior to the sale transaction, the Company operated across nearly [230+] retail locations. Bolstered by the strength of its brands and loyal customer following, Avenue has been successful in building a solid e-commerce platform, fully capable of standing alone absent support from a brick-and-mortar retail channel. For more information, please visit

About Configure Partners (
Configure Partners is a preeminent credit-oriented middle-market advisory boutique with offices in Atlanta and New York City.  The firm provides investment banking and financial advisory services surrounding credit and creditor's rights, providing actionable advice and results-oriented execution. Configure's Debt Advisory practice designs bespoke financing solutions for borrowers to support leveraged buyouts, acquisitions, refinancings, and dividend recaps, among other strategic objectives. The firm's Credit Resolutions practice is the trusted advisor to lenders and their borrowers when confronting business, liquidity, or capital structure challenges.  Securities transactions offered through unaffiliated broker-dealer Burch & Company, Inc.

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