Moorestown, New Jersey-based Destination Maternity Corporation, the world's largest designer and retailer of maternity apparel, is undergoing a major reorganization under the provisions of its October 21, 2019 Chapter 11 bankruptcy filing. The company is preparing to lay off more than 642 employees; 430 in its 74,000 square-foot Moorestown corporate headquarters and 212 in its 406,000 square-foot distribution center in Florence, New Jersey in addition to closing 183 stores involving hundreds of additional layoffs. The company, unprofitable for the past five years due to declining sales and shrinking profit margins, has been subject to a number of proxy fights from activist investors and leadership changes, including five CEO’s in the past five years. Many consumers who looked toward mall-based retail shops for fit, comfort, and fashion in maternity wear are now turning to online retailers with liberal exchange policies.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?