Just days after Pennsauken, New Jersey-based retailer Forman Mills announced it could close its lone Milwaukee location as well as several others nationwide due to financial challenges, a buyer for the company has been found.
In a WARN notice submitted to Wisconsin’s Department of Workforce Development last week, the company said it would need to file for Chapter 11 bankruptcy if a buyer was not found. The move would have resulted in the closure of its store on Milwaukee’s northwest side, costing 33 people their jobs. Located at Midtown Center at 4061 N. 54th St., the site was previously a Piggly Wiggly store.
A press release from the company states Forman Mills has been acquired by New York City-based Shopper’s World, a discount department store chain.
“We’re pleased to be joining a company with such longevity, strong community roots and financial stability,” said Mike Kvitko, chief executive officer of Forman Mills. “I’m happy for our team and our vendor partners, and I’m also happy to announce the upcoming openings of our newest Forman Mills stores at Marshfield Plaza in Chicago and at 48th & Market in Philadelphia.”
Forman Mills stores carry home goods and clothing for all ages. The Milwaukee store opened in 2018. The company also has locations in New Jersey, Pennsylvania, New York, Maryland, Michigan, Illinois and Ohio.
Forman Mills joins Pick ‘n Save, Planet Fitness, Foot Locker and GameStop as tenants at the 26.2-acre Midtown Center, which was sold in May for $22.1 million.
“We’re thrilled to add Forman Mills to the SW family of businesses, and plan to continue operating all Forman Mills locations,” said Sam A. Dushey, CEO of Shopper’s World. “We look forward to seeing benefits to both companies from this new acquisition.”
