Two years after a major rebranding and expansion effort, consignment retailer 2nd Time Around has shuttered, according to a notice on the company’s website. Requests for more information from Retail Dive — to the communications address on the website, and to former CEO Kristin Kohler Burrows (now a senior director at turnaround and consulting firm Alvarez & Marsal) — were not immediately returned. Michael Swackhamer of Generation Equity Capital (listed as a contact on a New York City store shuttered for nonpayment of rent) told Retail Dive he was unaware of any ownership in the retailer and that the notice was in error.
A notice on the company’s website blamed the overall retail market: “Because of a convergence of market forces hitting all brick and mortar stores — including increased competition from online retailers combined with skyrocketing rents — we have made the difficult decision to close our stores.”
Over 35 years, the company had grown from a single store to more than 40 boutiques in 12 states, according to its website. With most of that expansion occurring in recent years, the retailer’s downfall could have come from expanding brick-and-mortar…