PHILADELPHIA (KYW Newsradio) — A new deal will allow Forman Mills to keep its stores open, saving hundreds of jobs in the process.
Shoppers World has scooped up the discount retailer and plans to keep all 43 Forman Mills locations open, according to the Philadelphia Business Journal.
It comes just days after Forman Mills said more than 200 people would be laid off from four stores in Philadelphia and two locations in Montgomery and Delaware counties. The company warned it likely would file for Chapter 11 bankruptcy and shut down stores if it couldn't find a buyer.
Forman Mills CEO Mike Kvitko told the Business Journal that the company is now going to open new stores and reopen the location at 48th and Market streets.
Forman Mills is based in Pennsauken, New Jersey and has several dozen stores in nine states. The private equity firm Goode Partners bought the company from founder Richard Forman in 2016.






