Another bankruptcy for Mark Shale

High-end Chicago fashion retailer Mark Shale announced Tuesday it is filing for Chapter 11 bankruptcy once again.

“We have tried since Mark Shale was acquired to ensure the lasting success of this 83-year-old Chicago icon,” President Rich Myers said in a statement. “Unfortunately, in this current economic environment and despite our significant efforts over the past few years, we have concluded that a Chapter 11 filing was the company’s best alternative.”

The company’s three stores — 900 N. Michigan Ave. in Chicago, Oakbrook Center and Northbrook Court — will remain open.

It’s the third time the company has filed for bankruptcy. The retailer most recently filed in 2009 and emerged from bankruptcy four months later.