The company will close down all 117 stores this month. Most of those stores are in California.
The company's Facebook page has a giant graphic that noted the stores are not only going out of business, but will only accept gift cards through Jan. 21.
Anchor Blue, which is headquartered in Corona, began holding its going-out-of-business sales last week and featured discounts of up to 60 percent.
The sales will continue until all the merchandise is gone.
The chain has been popular with the youth market for decades but lately other retail stores such as Old Navy, American Eagle and Pacific Sun took big bites out of its mall-frequenting customer base.
The company filed for bankruptcy protection nearly two years ago and closed dozens of stores and it outlet division.
Even though it got an injection of capitol last November, it was not enough to stem the tide of red ink.
So all Anchor Blue stores will honor gift cards only until Jan. 21. After that, the stores will not accept any returns or exchanges. All sales during the liquidation will be considered final sales.