Owner of Mandee, Annie Sez stores files for bankruptcy

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(Reuters) – The owner of the 129 Mandee, Annie Sez and Afaze women’s clothing stores filed for bankruptcy after Superstorm Sandy cut into the New Jersey-based company’s sales and derailed its turnaround. The company, Big M Inc, which caters to young women with its Mandee stores, was forced to close many locations for a week after Sandy cut through the New York City metropolitan area on October 29. The company also placed blame for its bankruptcy filing on its insurer for not promptly paying its claims related to the storm, according to court documents. …