Macy’s
Macy’s is the newest retail shop to announce a series of cutbacks in the near future. The firm announced in January that 45 locations would close permanently in 2021. According to CNBC, the closures are part of Macy’s bigger plan to close 125 locations by 2023, limiting the company’s presence to high-end commercial establishments.
Macy’s
Express
Express said last year that it would shutter 100 of its stores by 2022, beginning with 31 in 20 states in January 2020. Between January 1st and December 31st, 2021, 35 further stores will close, with 25 more planned to open the following year.
Express
Office Depot
The restructuring plan for Office Depot, which was first unveiled last spring, will extend until 2021. By 2023, the office supply company wants to shutter an unknown number of outlets and lay off approximately 13,000 employees. According to sources, the plans are part of the company’s continuous cost-cutting efforts as it transitions from a typical store to an IT services provider.
Office Depot
Walgreens
Walgreens has closed almost 200 of its shops across the United States since confirming the layoffs in 2019. The shop closures will make up less than 3% of the pharmacy chain’s overall store count, which is currently around 9,600 locations worldwide.
Walgreens
The Children’s Place
This year, The Children’s Place is closing a number of facilities around the world. The children’s clothes business said last year that it would eliminate 200 outlets in 2020 and another 100 by 2021. The company hasn’t revealed which stores will close, but “Today” reports that it’s mostly seeking “mall-based” locations.
The Children’s Place
J.C. Penney
After declaring bankruptcy and liquidating more than 150 stores last year, J.C. Penney will shut more stores this spring. The department store chain stated in December that it would close 15 more stores by the end of March 2021. “We have planned to shut an additional 15 locations as part of our shop optimization approach, which began in June with our financial restructuring,” JCPenney said in a statement to USA Today. “At the end of this month, liquidation sales will commence, and the stores will close to the general public in mid- to late March.”
J.C. Penney
Francesca’s
Francesca said in November 2020 that it would close around 140 stores by the end of January 2021. In December, the women’s boutique network filed for Chapter 11 bankruptcy, with the intention of selling the business, including its physical sites. The firm presently maintains 558 outlets, according to a statement sent to USA Today, but “plans to renegotiate a number of leases throughout this phase, which may involve closing new boutiques.”
Francesca’s
Signet Jewelers
Signet Jewelers, which runs under the names Kay Jewelers, Zales, Jared The Galleria Of Jewelry, and Piercing Pagoda in various cities across the world, is closing several more sites this year. The diamond jewelry business said in 2020 that it will not reopen at least 150 North American outlets that were closed because of the COVID-19 pandemic in March. Another 150 locations are set to shutter by the end of February 2021.
Signet Jewelers
Pet Valu
The list of establishments that have shuttered as a consequence of the coronavirus incident now includes Pet Valu. The pet supply company announced in November 2020 that it will close all 358 stores and warehouses across the United States. Despite the fact that closing sales have already begun in countries throughout the world, people will no longer be able to make purchases on the company’s website.
Pet Valu
Justice
Justice is slated to close the final outlets this year after permanently closing nearly 600 locations last year. Ascena Retail Group Inc., the parent firm of the tween girl chain, announced plans to shut the business in November, with the last 108 stores closing by early 2021.
Justice
GameStop
GameStop, which has already closed hundreds of stores in the last two years, wants to close even more in 2021. The video game retailer announced plans to shutter over 1,000 outlets before the end of its fiscal year in March December. The closures come after nearly a decade of financial difficulties for the gaming juggernaut, which is still trying to repay its debts after a $458 million net loss in 2018.
GameStop
Sears
Since declaring bankruptcy in 2018 and liquidating the majority of its stores over the preceding two years, Sears, which Transformco owns, has suffered a dramatic reduction in sales. According to CNN, the failing chain is undergoing a “slow-motion liquidation,” and would commence liquidating stores as soon as feasible next year, as well as advertising many locations with commercial real estate agents.
Sears
The Disney Store
Disney said on March 3 that about 60 of its Disney Stores in North America will shutter by the end of 2021. E-commerce, social media, and theme park shopping ventures would be emphasized, according to the community. The corporation had 330 sites throughout the world as of 2016, with 200 in North America.
The Disney Store
Kmart
Kmart, which is acquired by Transformco, the same corporation that owns Sears, is also going out of business. The number of outlets in the company has been reduced to only 48, with more closures predicted this year as the commercial real estate market rebounds.
Kmart
H&M
Following the failure of 180 stores in 2020, H&M expects to shutter another 250 stores in 2021. The coronavirus outbreak, as well as the expanding trend of internet buying, drove the retailer’s decision. “After the epidemic, more and more buyers began buying online,” H&M CEO Helena Helmersson said on “Good Morning America,” “and they are making it plain that they value a relaxing and inspiring environment in which shops and online interconnect and support each other.”
H&M
Victoria’s Secret
Victoria’s Secret is scheduled to close additional stores in the next two years after closing 250 locations in the United States and Canada last year. During a May 2020 earnings call with investors, Victoria’s Secret CEO Stuart Burgdoerfer openly revealed the anticipated closures. “We would expect a significant number of slow store closures outside of the 250 we’re aiming this year,” he told USA Today, “suggesting that there would be more in 2021 and possibly a little more in 2022.”
Victoria’s Secret
Gap
For the next two years, Gap plans to drastically shrink its physical presence. Gap Inc. said in October 2020 that by the end of 2023, it would shutter 220 Gap shops across North America. The closures are part of the retailer’s plan to concentrate on city centers and supermarkets rather than malls.
Gap
Banana Republic
Several Banana Republic locations will shutter, which are also owned by Gap Inc. By 2023, the business plans to shut 130 Banana Republic outlets. The chain will shutter 350 stores, or about a third of its North American outlets, between the Banana Republic and Gap.
Banana Republic
ALDI
We all know ALDI and have so many reasons to love this common German brand, discount supermarket. ALDI has over 10,000 stores in 20 countries and an estimated combined turnover of more than $60 million. Sadly, due to the global pandemic which began rife worldwide in 2020, many stores had to close their doors. Will they reopen any of them? Guess we’ll have to wait and see…
ALDI
Carter’s
Due to lease expirations in the coming months, Carter’s has chosen to shutter hundreds of locations permanently. The children’s apparel and accessories business revealed intentions to shut down over 200 stores in October 2020, with roughly 60% of those stores closing by the end of 2021. At the end of 2022, the current stores will shutter.
Carter’s
American Eagle
After announcing plans to shut 40 to 50 American Eagle stores by 2020, they will finish the remaining outlets this year. Executives indicated last October that the company may shut up to 500 outlets when leases expire over the next two years. When deciding which stores to close permanently, Chief Financial Officer Mike Mathias told Retail Dive that the retailer examines “lease tenure, mall profile, accessibility to other retailers, and customer experience level.”
American Eagle
Zara
Zara is shifting its focus away from brick-and-mortar stores and toward online purchases in the aftermath of the coronavirus pandemic. Inditex, the apparel firm’s holding company, stated this summer that it would close up to 1,200 locations worldwide over the following three years, beginning in 2020. The corporation also intends to spend $3 billion on improving its digital operations, which will include the hiring of additional online customer support personnel.
Zara
Men’s Wearhouse
The parent company of Men’s Wearhouse and Jos. A. Bank, Tailored Brands, stated last summer that almost 500 stories will be closed “over time.” The COVID-19 pandemic affected the men’s apparel company hard as shoppers relocated to distant work and had less need for formalwear. The company has been slowly recuperating since filing for bankruptcy in August and completing the last steps of the Chapter 11 proceedings in November.
Men’s Wearhouse
Chico’s
Chico’s has committed to making a genuine attempt to shutter 250 locations over the next three years, according to CEO George J. C. Becker, and would appear to be on track to meet that objective. In an effort to give additional outlets, one of the women’s apparel stores has expanded its e-commerce activity and sales.
Chico’s
Abercrombie & Fitch
By the end of January 2021, Abercrombie & Fitch’s four most prominent flagship locations will be closed. Closures will be mostly in London, Paris, Munich, and Dusseldorf, Germany, and were scheduled prior to the COVID-19 epidemic. Three more key stores will close this year when their leases expire in Brussels, Madrid, and Fukuoka, Japan.
Abercrombie & Fitch
Nine West
Nine West is attempting to restructure its debts by selling off portions of the business and filing for Chapter 11 bankruptcy protection. The company’s $1.5 billion debt made all of this feasible. The shoe retailer planned to close all but 25 of its outlets and phase out its Easy Spirit brand. The company wants to focus on jewelry and garment companies such as Anne Klein, One Jeanswear Group, and Kasper Grouper.
Screenshot 12
Payless
Payless ShoeSource has the most store closures of any company that plans to shutter this year. The corporation plans to close over 2,500 stores and hold clearance sales to get rid of their inventory and sell their outlets. Some stores will stay open until the end of May, while others will shut down by the end of March.
Payless
Gymboree
In mid-January, Gymboree Group Inc, a children’s clothing retailer, filed for Chapter 11 bankruptcy protection. In the United States and Canada, they have announced the closing of about 800 Gymboree and Crazy 8 locations. It has stopped accepting online orders and has started liquidation sales in supermarkets. For the second time in the previous two years, Gymboree has declared bankruptcy. Only last year, the corporation closed a number of locations.
Gymboree
Charlotte Russe
In March of this year, Charlotte Russe announced the closing of the whole network. Yes, it covers approximately 500 locations across the country. Earlier this year, the firm announced the closure of 94 locations. All of the others have shut down by April 30, 2019. Online purchases have also been suspended by the corporation, however, things can still be acquired through liquidation sales in select locations.
Charlotte Russe
Starbucks
In the summer, Starbucks announced that 150 underperforming shops would be officially closed. This is three times the amount it closes with at the end of a fiscal year. According to the corporation, the closures would affect large cities with oversaturated marketplaces. In some places, the coffee chain segments are just competing against one another.
Starbucks
Christopher & Banks
In late 2018, Christopher & Banks revealed that 30 to 40 of their outlets would shutter by 2020. However, this does not suggest that the company’s revenues are decreasing. In recent years, the company’s e-commerce segment has flourished. It is also expected to soar much higher this year!
Christopher & Banks
e.l.f Cosmetics
Like the other companies on the list, e.l.f. Cosmetics expects to liquidate physical locations and focus on e-commerce instead. Twenty-two of its outlets had closed by the end of March 2019. Customers of this company, on the other hand, should not worry because their products are still available on the official website and at drugstores around the country.
elf
Destination Maternity
In order to reinvigorate the business and improve e-commerce revenues, Destination Maternity Corp. plans to place less focus on its retail presence. This year’s retail closures will affect around 42 to 67 locations. They did it to save money at the store and expand their internet presence. According to USA Today, the corporation also plans to create smaller stores “with decreased square footage to achieve improved efficiency.”
Destination Maternity
Foot Locker
In March 2019, Foot Locker Inc. announced the closing of 167 shops. It planned to boost its investment and pour millions of dollars into the remaining sites. This choice was made in order to boost profit margins. The retailer’s performance in the fourth quarter of 2018 astonished its stockholders.
Foot Locker
J. Crew
Crew seemed to be all over the headlines these days. Following the resignation of its CEO in 2018, the company kicked off the new year by closing six outlets in January. The closures are part of a bigger plan to shut 30 stores. They made the proposition public last summer. However, we still don’t know which locations they plan to close in order to meet their goals.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is experiencing similar issues to GNC. They are focusing on e-commerce and building a subscription business to circumvent these challenges. Revenues were $1.2 billion in 2017, down 8.5 percent from the prior year. The reduction in the popularity of shopping malls, as well as the emergence of competitors, are to blame for the problem. We’re hoping they’ll be able to break free soon with their category expansion, distribution services, and marketing efforts!
The Vitamin Shoppe Store
Bebe
Bebe’s revenues began to drop after Neda Mashouf, the creative director and wife of founder Manny Mashouf, departed the company. In 1979, the logo was designed. As shopping malls faded away, the company had to deal with a series of challenges. Last year, Bebe recorded a $4.6 million net loss. It also paid $65 million to shut retail locations and focus on e-commerce.
Bebe
David’s Bridal
Wedding gowns and elaborate ceremonies appear to be a thing of the past. More brides are choosing for less formal weddings and less expensive gowns. This is bad news for David’s Bridal and other bridal gown retailers. The popularity of this brand is steadily dwindling. They also have a $520 million loan due in 2020, as well as $270 million in unsecured notes.
David’s Bridal
Bon-Ton
The online retailer and department store Bon-Ton has been around for a century, but it’s time to say goodbye. Last year, the store went bankrupt, and all of its outlets were shuttered. It did, however, reopen for e-commerce and a few stores in 2018. Because they worked in tiny communities with little competition at first, they were highly successful. It was, of course, altered by Amazon.
Bon-Ton
Claire’s
Claire’s began as an accessories boutique in 1961. It was a favorite shop of many young American ladies for a long time. The company, on the other hand, postponed its IPO in 2018 and filed for Chapter 11 bankruptcy protection. In May of that year, it closed more than 130 outlets across the country.
Claire’s
Southeastern Grocers
Grocery stores are also experiencing sales issues. Southeastern Grocers, the parent company of Winn-Dixie, Bi-Lo, and Harveys, has announced the closure of 22 of its shops by March 25, 2019. The corporation bounced back from its Chapter 11 bankruptcy filing in less than a year. During that time, 94 shops were forced to shutter. With 13 locations expected to close, Bi-Lo will be the most impacted of the three brands it controls.
Southeastern Grocers
Shopko
Shopko had previously stated that it planned to shutter 70% of its locations by May 2019. They eventually reversed their decision and declared that all of the stores will be closed permanently. In January 2019, Shopko filed for bankruptcy, hoping to find a buyer who could assist it get out of this crisis. It was unable to locate a buyer and attempted to dispose of all of its assets, but was unsuccessful. It had shuttered all of its stores by June 2019.
Shopko
Performance Bicycle
If you like to cycle, we have some bad news for you. The largest bicycle retailer in the country has closed its doors. The last of its 104 stores shuttered on March 2. Advanced Sports Enterprises ceased operations last October. At first, it planned to try to renegotiate leases in order to save at least half of its locations. Unfortunately, the company had no choice but to fold and shut down.
Performance Bicycle
Lowe’s
Lowe’s is a popular retailer of home and garden goods. The corporation has now shuttered 51 unprofitable locations. In the year 2019, the closures occurred. It shuttered 20 U.S. locations and 31 in Canada. The company announced its plans towards the end of 2018, with the goal of shutting down all of its locations by February 1, 2020. The decision to shutter stores was taken when veteran CEO Robert Niblock stepped down and was replaced by former J.C. Penney CEO Marvin R. Ellison.
Lowe’s
Vera Bradley
Vera Bradley is rethinking its business approach, opting for licenses over actual locations. Bed Bath & Beyond and Macy’s are among the places where the corporation is exploring selling home items. By 2021, it plans to shut up to 50 of its 110 locations. At that time, several of the leases would be up for renewal. However, 52 Vera Bradley factory stores remain open, making it easy to visit a physical location.
Vera Bradley
Henri Bendel
In early 2020, Henri Bendel terminated all of its 24 locations across the country. L Brands, the parent business, announced in the fall of 2018 that the entire brand would be shut down, including the website and the popular Fifth Avenue store. The corporation decided to focus on high-potential products like Victoria’s Secret and Bath & Body Works.
Henri Bendel
Family Dollar
Dollar Tree, a bargain retailer, has revealed that about 390 Family Dollar locations will shutter in 2020. Customers will have to go elsewhere for personal care items and other requirements. About 200 branches of this organization have been renamed. It also wants to improve in the future. They are planning to boost the prices of their products at a few outlets in the near future.
Family Dollar
J.C. Penney
For years, J.C. Penney has been a mall staple, but its sales have been decreasing in recent months. During the holiday season, it suffered a dry period, and its stock value plummeted. The business has chosen to shutter 18 department stores by 2020 as a result of these concerns. Not only that but nine furniture outlets will be shuttered. A total of 27 sites will be closed as a result of this.
J.C. Penney
Z Gallerie
Z Gallerie is a luxury furniture store. It has just joined the list of retailers who have filed for bankruptcy protection. The company is reportedly looking for a buyer who can help it escape bankruptcy, according to reports. Until then, the company is shuttering 17 locations across the country, accounting for around 20% of its total.
Z Gallerie
Beauty Brands
Beauty Brands has stated that 25 of its locations will shutter in 2018. In January of that year, the company filed for bankruptcy, and its corporate personnel was halved. The company’s operational expenditures had soared since it was a “predominantly brick and mortar shop,” according to its bankruptcy filing.
Beauty Brands
Things Remembered
“Things Remembered”, is a brand that is spezialised and mostly sells personal and engraved items. Unfortunately, the company had a few tough years and had to apply for bankruptcy in February 2019. Things Remembered however, had there was a silverlining in the situation. A buyer was found who saved 450 of the 700 branches.
Things Remembered
Ascena Retail
Did you know that Ascena Retail owns brands such as Dress Barn, Ann Taylor, Loft and Lane Bryant. Unfortunately, the company’s sales were not the best over the past few years and as a result, 677 locations of the brand had to be closed. Many of the locations already closed down and many more are going to follow. Hopefully Acenta Retail, can recover again soon.
Ascena Retail
Lord & Taylor
The company Lord & Taylor, operated for more than over 100 years, but last year was a very hard one for them! Due to a loss in sales, the comapny had to shut down its famous store on 5th Avenue, as well as many other stores all over the counrty.
Lord & Taylor
Kohl’s
Also the famous retailer Kohl’s had to suffer severe sales loss the last few years. It was a hard decision, but Kohl’s decided to shut down several stores. The company however thought through it and opened 4 smaller stores. If you are a Kohl’s fan than you can keep relaxed, because the retailer still has many running stores throughout the country.
Kohl’s
99 Cents Only
Do you remember the 99c store? The store had to deal with a severe net loss of over $60 million in the year 2017. Luckily the managment could save the store, before it got bankrupt fully. With a new CEO the store tries their best to increase their sales, but despite the attractive prices of the products, the store still has some financial issues.
99 Cents Only
Neiman Marcus
In the fiscal year of 2017, the company Neiman Marcus had a stong decrease of its top line sales. They thought about a way to save the company from going bancrupt, which included to fire 200 employees. Another way to save the company, was by it being bought by another company. A possible buyer, would have been the canadian company “Hudson Bay”. Unfortunetaly this plan didn’t work out.
Neiman Marcus
Cole Haan
Cole Haan started as a footwear company for elegant shooes. This went very well for the company, however they wanted to change their image and their target audience and concentrtae on sports footwear. The company’s plan didn’t work how they wanted it to and they had to be bought by another company. Sometimes its better to stick with old things.
Cole Haan
FullBeauty Brands Holdings Corp
Also the plus size brand Full Beauty Brands Holding Corp, had to deal with a severe revenue loss. The owner of several plus size brands such as “Jessica London”, “Ellos”, “Woman Within”, “Roaman’s” or “Brylane Home”. In the first quater of 2017, the company had a loss of 30% in revenue. With new people in the companys board, hopefully things will improve.
FullBeauty
Eddie Bauer
Eddie Bauer is a company that sells clothes and outdoor gear. It went into bankruptcy, however managed to get back on track. The company still has to deal with a loss of revenue and might be bought by the company PacSun.
Eddie Bauer
Mattress Firm
Matress Frim was one of the best matress retailres out there. Unfortunately also the matress heaven, had to file Chapter 11 bankruptcy. The comapny ones 3500 stores, of which 700 had to be closed. Hopefully things are going to get better for the famous matress retailer.
Mattress Firm
GNC
The company GNC is already on the market for nearly 80 years. Since 1935. the company is selling vitamins and suplements. There are over thousands of GNC stores located all around the world. However, due to a high revenue loss, the companie needed to close many of its stores. GNC however doesn’t give up and tries its best too keep up with its competitors and to get back into the game.
GNC
Pier 1 Imports
Pier 1 imports is known for its scented candle, towels and every other item that will turn your home into a cozy and nice place. The company lost a high percentage in revenue sales which was a big shock for the company, that started its journey with a single shop in California in the 60s. As a result, Pier 1 Imports had to close over 900 stores.
Pier 1 Imports
New York & Co.
New York & Co. is a fashion retailer for women. Due to the high amount of online shopping, the retailer encoutnterd a high drop in revenue loss. On top with covid-19, the retailer nearly went bankcrupt. We hope that New York & co. will be able to financially recover again.
New York & Co.
Stein Mart
The company Stein Mart is selling items frm jewrely, over luggage to food. You can nealry get everything at Stein Mart. The company that opertaes since 1908 and that has over 280 stores throughout the U.S, had severe financial problems due to Covid-19 and had to file bankcrupcy. It is was the end of an era.
Stein Mart
AT&T
AT&T actually planned to open 1000 new stores, before covid-19 crossed their paths. The company had to close many of its stores, which led to the 1300 people that were affected. At&T tried the best to help their employees that were affected by the closed stores and searched an option for them to work at one of their other branches or from home.
AT&T
Tuesday Morning
Due to a high percentage in revenue loss and Covid-19, the company Tuesday Morning, had to close 230 stores. The CEO Steve Beckers, said that Covid-19 hurt their business more than thought. Tuesday Monring still tries to fight against the consequences brang with it.
Tuesday Morning
Family Video
Nowaydays DVDs and Blue Rays can already be seen as something vintage. While most of the DVD rental shops already closed, however the store “Family Video” is still working. Even if they are still open, also “Family Video” encountered some severe revenue loss and had to close several locations, which left many people jobless.
Family Video
Art Van Furniture
In March Art Van Furniture announced that it has to close down. Due to the company, the couldn’t stand up to their competitors, which resulted in a high amount of revenue loss. As sad as it may seem, from now on you have to buy your funriture and matress somewhere else.
Art Van Furniture
Papyrus
Papyrus was one of the most popular and famous retailers for greeting cards. The company had locations in Canada and the U.S. Due to a severe loss in revenue and financial problems, the company had to close. We can not even imagine, what the world without Papyrus is going to be.
Papyrus
Forever 21
Forever 21 was one of the most popular stores when it comes to fashion. Especially among teenagers, the branding company was very successful and relatively cheep. With the increasing of environmental awareness, the comapny’s sales revenue decreased heavily and the company was forced to close many of its branches. Some of them are still existing, however the majority closed.
Forever 21
Modell’s Sporting Goods
Modell’s Sporting Goods, was one of the most popular sport product retailers in the U.S. Especially in NYC it had one store located next to the other. However, just as many other retailers as well, due to online shopping, covid-19 etc. the retailer suffered from a severe revenue loss. This forced the company to close many of its branches throughout the country.
Modell’s Sporting Goods
A.C. Moore
Do you remember A.C. Moor? The retailer for arts and crafts, was known for its good prices and coupons. The first shop was opened 1985 in New Jersey by Jack Parker. The store went really well, so 40 other branches opened mainly in Mississippi. Unfortunately, the company had to go through many financial issues, which forced them to close some of their branches.
A.C. Moore
Wilsons Leather
Wilsons Leathers, is as the name already says a retailer for leather. For years, it went really well and the retailer opened more than 700 stores in the US and Canada. Over the last years, the company couldn’t stand up against its competition and had to close many of its numerous branches.
Wilsons Leather
Olympia Sports
Sadly, more than half of the Olympia Sports stores closed throughout 2020. However, the popular sporting goods retailer was acquired by JackRabbit meaning that they will operate the remaining 70+ Olympia stores. The company was originally founded back in 1975, so for many dedicated shoppers, this news came as a huge surprise.
Olympia Sports
Sur La Table
Sur La Table is known as a high-end kitchenware retailer as well as their fabulous in-store cooking classes. Sadly, the company was hit hard by the global pandemic and filed for bankruptcy in the middle of 2020. Just one month last the popular retailer was sold at an auction. But the big question still remains, will their stores remain open? So far, over 60 stores have already permanently closed, with a handful more undergoing liquidation.
Sur La Table
Brooks Brothers
Yet another business that was badly affected by COVID-19, Brooks Brothers. The oldest clothing retailer in the USA filed for bankruptcy in 2020. Since opening in 1818, the business never dealt with any kind of setback of this kind. Brooks Brothers announced that they would be closing 50+ stores, mainly due to the global pandemic. Furthermore, they said that they had a major decline in sales.
Brooks Brothers
Earth Fare
Founded in 1975, Earth Fare is an American health and wellness supermarket that had over 20 locations, across 8 different states across America. Unfortunately at the beginning of 2002. The business announced that it would close all of its stores and start inventory liquation effective immediately. Whether this was due to the onset of the global pandemic or they were going through bad times, we may never know.
Earth Fare
Bose
Bose Corporation is an American manufacturing company that mainly sells audio equipment. The company was established in 1964 and has hundreds of retail stores across the world. Their locations range from North America, Australia, Europe, and Japan. At the beginning of 2020, Bose stated that they would be closing 119 retail stores across the globe, including all the stores across America. However, their reasoning for closing is not economic but rather due to the rise in online purchases.
Bose
Lucky’s Market
Supermarket company, Lucky’s Market reported that they would be shutting at least 32 out of its 39 stores. Additionally, they said they would file for bankruptcy in order to support the sale of its remaining locations. The chain focuses primarily on organic food. Their loyal customers were naturally taken aback and wait in anticipation to see if their remaining stores will also close down.
Lucky’s Market
CVS
CVS announced that it planned to shut more than 70 of its stores by the end of the first quarter of 2020. Even though this is approximately half the number of stores closed at the end of 2019, customers weren’t too worried as there were roughly 9000 CVS locations still remaining across the country. The popular local pharmacy chain was founded back in 1963 and is known to be the best walk-in medical service center.
CVS
Hallmark
At the end of January 2020, Hallmark announced that it would be shutting 16 of its stores across America. One Hallmark store owner said, “It’s just not a viable business any longer, “People used to buy and send cards all the time. It’s all online now. Everyone celebrates their birthdays on social media.” The greeting card company was established back in 1910 and had over 30 000 employees across the country. Will they be doing a permanent closure? Guess we’ll have to wait and find out…
Hallmark
Nordstrom
Founded in 1901, Nordstrom, Inc. is an American luxury department store chain that has developed into one of the beloved retailers in the USA. Due to the coronavirus, Nordstrom released a statement saying they would be permanently closing 16 of their stores as sales at Nordstrom were down by roughly 40%. According to a press release, the closures are all part of its long-term plan to “strengthen its business.” Nordstrom will have roughly 460 different locations remaining.
Nordstrom
Century 21
Department store, Century 21 was founded in 1961. Over the course of its existence, it only had 13 locations. For nearly 60 years, the off-price fashion retailer was a widely popular store. Sadly, their innings came to an end as they filed for bankruptcy in 2020. Consequently, Century 21 closed all of its stores. In a statement, co-CEO Raymond Gindi blames the chain’s demise on insurance companies, which he claims “have turned their backs on us at this most critical time,” referring to the pandemic.
Century 21
Bloomingdale’s
The high-end department store, Bloomingdale’s has a long history dating back to 1861. It’s unclear whether the reasoning is due to the global pandemic or other financial motives, however, Bloomingdale’s released a statement saying that dozens of their stores would be permanently closed by the end of 2021. It was later announced that part of their closure was due to the fact that they had a 3-year plan to improve their productivity.
Bloomingdale’s
Stage Stores
Regional discount department stores have found it quite challenging to compete with other national giants like Walmart, Target, and Kohl. The latest retailer to observe this is Stage Stores, which owns Gordmans off-price stores as well as several other regional brands like Bealls, Goody’s, and Peebles. In May 2020, the company filed for bankruptcy and then later announced that all of its locations across America would close permanently. Unfortunately, they also suffered a lot because of COVID-19.
Stage Stores
DressBarn
DressBarn is an online retailer between 1962 and 2019. Before they announced that they would be closing all of their stores they had roughly 650 locations across the USA. It emerged that the retailer had been finically struggling and came up with the plan to shut their stores in order to focus on its more profitable brands like Ann Taylor, Loft, and Lane Bryant. A few months after their announcement, they declared that they would soon launch a website in 2020.
Dressbarn
Fred’s
Operating in 15 states for more than 70 years, Fred’s Inc announced in April 2019 that they were seeking liquidation and filing for bankruptcy. This news also came with a statement saying that all their stores would be shutting down entirely. This issue had been coming, as they noticed a decrease in performance for a few months. Forecasters said that even if they tried to push through, the global pandemic would probably have knocked them out.
Fred’s
Charming Charlie
Founded in 2004, Charming Charlie is a women’s contemporary fashion and accessories retailer. They filed for bankruptcy in July 2019, but this was not the first time. It was actually their second in two years, which resulted in them closing roughly 250 locations and e-commerce sites. They explained that there was a huge number of empty stores throughout the country.
Charming Charlie
Party City
Another store that is on the verge of bankruptcy is Party City. At the start of 2019, the company announced that it would be closing a total of nearly 60 stores across the USA. Besides dealing with many financial issues, they say that another reason for the closure is due to helium shortages and rising helium prices. And if this wasn’t bad enough 65 of the chain’s locations in Canada are being sold.
Party City
LifeWay Christian
LifeWay Christian is a faith-based book and publishing company. They announced that by the end of 2019 they would be closing all 172 of its stores, they also plan to move all of their products to an online retailing company. The closure was mainly due to a massive decline in in-person sales. A few years before this decision was made, LifeWay Christian also filed for bankruptcy.
LifeWay Christian
L’OCCITANE
L’Occitane is a world-famous retailer of body, face, fragrances, and home products that were founded in France. For over 40 years has sold luxury products to clients all over the world. Unfortunately, at the beginning of 2021, the US arm of beauty retailer L’Occitane filed for bankruptcy and intended to close at least 23 of its 166 locations across the USA. They claim a lot of their losses have been due to COVID-19.
L’ OCCITANE
YouFit
Gym chain YouFit declared bankruptcy in November after they suffered throughout the year of COVID-19. Due to capacity limits in gyms and other restrictions, YouFit was forced to file for bankruptcy at the beginning of 2021. YouFit then sold itself to a group of former lenders in exchange for debt forgiveness.
YouFit
MUJI
MUJI in the USA was also one of the big companies that fell victim to the global pandemic. Following all their losses they stated that they would be closing all 7 of their stores in California as part of the company’s restructuring. MUJI is known for its minimalist, unbranded goods, the retailer announced plans to close some of its 18 US-based locations but said it will continue to run its e-commerce store. Its US arm had reportedly been operating at a loss for the past 3 years, due to high rents and cheaper competitors.
MUJI
Fossil
The American fashion designer, Fossil was founded in 1984. At the end of 2020, they reported a huge annual loss, specifically in its fourth0quater and said they lost approximately $96 million. They still have roughly 360 locations across the USA and don’t have intentions of permanently shutting all their stores, just yet. Even though a lot of their sales are done digitally, they do have plans to make the complete shift.
Fossil
Paper Source
Greeting card company Paper Source filed for bankruptcy in March 2021. However, they are still trying their best to push through and keep some of their stores from shutting. Of course, when they did lose some of their stores, not only did many lose their jobs, but senior management salaries had to be cut. This was all due to COVID-19.
Paper Source
Goodwill
Sadly, because of the pandemic, Goodwill stores were closed for the majority of the outbreak. In addition to that, the nonprofit thrift store was forced to shut 8 locations and lay off around 60 employees. “We have had to make a difficult decision for economic reasons,” said Mike Keenan, president, and CEO of Goodwill Industries of the Greater East Bay. “Our employees are our first priority, and we will continue to do everything we can to support them at this difficult time and fulfill the Goodwill mission in our remaining stores and facilities
Goodwill
SEE Eyewear
The unconventional and popular, SEE Eyewear, has permanently closed its only Canadian storefront. The boutique retailer first opened in November 2017 with plans to grow across Canada. Unfortunately, due to the current state of affairs within the retail industry, all expansion plans are canceled. With the ways things are going, SEE Eyewear may need to close some of their stores in America too.
SEE Eyewear
Bed Bath & Beyond
Following the closure of 200 locations last year, Bed Bath & Beyond aims to close about 200 locations in 2021. According to USA Today, another 43 locations will close permanently by the end of February. The shutdown will take effect in 19 states, with California accounting for nine of them.
Bed Bath & Beyond