Macy’s
This is the latest in a string of retailers to announce price reductions. The company announced in January of this year that 45 locations would close permanently by 2021. According to CNBC, the closures are part of a larger plan by Macy’s to close 125 stores by 2023, limiting the company’s presence to high-end retail.
Macy’s
Bed Bath & Beyond
Bed Bath & Beyond hopes to close an additional 200 locations in 2021. Some 43 additional locations will be closing permanently by the end of February, according to USA Today. Nine of the 19 states in which the shutdown will occur are in California.
Bed Bath & Beyond
Express
In 2016, the company said it would close 100 of its spots by 2022, with the first 31 shutting down in the first two months of 2020. 35 more stores are scheduled to close between January 1st and December 31st, 2021, while 25 additional stores are planned to open the following year.
Express
Office Depot
Office Depot’s restructuring plan, which was first announced last spring, will be extended until 2021. The office supply company plans to close an unknown number of locations and lay off approximately 13,000 employees by 2023. The plans are part of the company’s ongoing cost-cutting efforts as it transitions from a traditional store to an IT services provider, according to sources.
Office Depot
Walgreens
Since announcing the layoffs in 2019, Walgreens has closed nearly 200 of its stores across the United States. The store closures will account for less than 3% of the pharmacy chain’s total store count, which currently stands at around 9,600 locations around the world.
Walgreens
The Children’s Place
The Children’s Place is closing a number of locations around the world this year. Last year, the children’s clothing industry announced that it would close 200 stores in 2020 and another 100 by 2021. The company hasn’t said which stores will close, but according to “Today,” it’s looking for “mall-based” locations.
The Children’s Place
J.C. Penney
J.C. Penney will close more stores this spring after declaring bankruptcy and liquidating more than 150 stores last year. In December, the department store chain announced that 15 more stores would close by the end of March 2021. “As part of our shop optimization approach, which began in June with our financial restructuring, we have planned to close an additional 15 locations,” JCPenney said in a statement to USA Today. “Liquidation sales will begin at the end of this month, and the stores will close to the general public in mid- to late March.”
J.C. Penney
Francesca’s
In November 2020, Francesca announced that it would close around 140 stores by the end of January 2021. The women’s boutique network filed for Chapter 11 bankruptcy in December, with the goal of selling the company, including its physical locations. According to a statement sent to USA Today, the company currently has 558 locations, but “plans to renegotiate a number of leases throughout this phase, which may involve closing new boutiques.”
Francesca’s
Signet Jewelers
Signet Jewelers, which operates in various cities around the world under the names Kay Jewelers, Zales, Jared The Galleria Of Jewelry, and Piercing Pagoda, is closing several additional locations this year. In 2020, the diamond jewelry industry stated that it will not reopen at least 150 North American locations that were shuttered in March due to the COVID-19 pandemic. By the end of February 2021, another 150 locations are scheduled to close.
Signet Jewelers
Pet Valu
Pet Valu has been added to the list of businesses that have closed as a result of the coronavirus outbreak. In November 2020, the pet supply company announced that it would close all 358 stores and warehouses in the United States. Despite the fact that closing sales have already begun in countries worldwide, the company’s website will no longer be available for purchases.
Pet Valu
Justice
A large majority of the previous year’s locations will no longer be in operation when the final outlets close this year. The parent company of the tween girl retail chain, Ascena Retail Group Inc., announced in November that the company will shut down by early 2021.
Justice
GameStop
In 2021, GameStop plans to close even more stores after closing hundreds in the previous two years. Before the end of its fiscal year in March December, the video game retailer announced plans to close over 1,000 stores. The closures follow nearly a decade of financial struggles for the gaming behemoth, which is still trying to repay its debts following a $458 million net loss in 2018.
GameStop
Sears
Sears, which Transformco owns, has seen a dramatic drop in sales since declaring bankruptcy in 2018 and liquidating the majority of its stores over the previous two years. According to CNN, the failing chain is in the midst of a “slow-motion liquidation,” with plans to liquidate stores as soon as possible next year and advertise many locations with commercial real estate agents.
Sears
The Disney Store
On March 3, Disney announced that approximately 60 of its Disney Stores in North America will close by the end of 2021. According to the community, e-commerce, social media, and theme park shopping ventures would be prioritized. As of 2016, the company had 330 locations worldwide, with 200 in North America.
The Disney Store
Kmart
Additionally, Kmart, which was acquired by Transformco, the same corporation that owns Sears, is going out of business. The company’s number of locations has shrunk to just 48, with more closures expected this year as the commercial real estate market recovers.
Kmart
H&M
H&M expects to close another 250 stores in 2021, following the failure of 180 stores in 2020. The retailer’s decision was influenced by the coronavirus outbreak as well as the growing trend of online shopping. “Following the epidemic, an increasing number of 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
Following the closure of 250 stores in the United States and Canada last year, Victoria’s Secret plans to close more stores in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer revealed the anticipated closures during a May 2020 earnings call with investors. “We would expect a significant number of slow store closures outside of the 250 we’re aiming this year,” he said, “suggesting that there would be more in 2021 and possibly a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to drastically reduce its physical presence over the next two years. Gap Inc. announced in October 2020 that it would close 220 Gap stores across North America by the end of 2023. The closures are part of a strategy by the retailer to focus on city centers and supermarkets instead of malls.
Gap
Banana Republic
Numerous Banana Republic locations, which are also owned by Gap Inc., will close. By 2023, the company intends to close 130 Banana Republic locations. Between the Banana Republic and Gap, the chain will close 350 stores or roughly a third of its North American locations.
Banana Republic
Carter’s
Carter’s has chosen to permanently close hundreds of locations due to lease expirations in the coming months. The children’s apparel and accessories business announced plans to close over 200 stores in October 2020, with approximately 60% of those locations closing by the end of 2021. The current stores will close at the end of 2022.
Carter’s
American Eagle
Following the announcement of plans to close 40 to 50 American Eagle stores by 2020, the remaining stores will be closed this year. Last October, company executives said that when leases expire over the next two years, the company may close up to 500 locations. Chief Financial Officer Mike Mathias told Retail Dive that the retailer considers “lease tenure, mall profile, accessibility to other retailers, and customer experience level” when deciding which stores to close permanently.
American Eagle
Zara
In the aftermath of the coronavirus pandemic, Zara is shifting its focus away from brick-and-mortar stores and toward online purchases. Inditex, the holding company of the apparel company, announced this summer that it would close up to 1,200 stores worldwide over the next three years, starting in 2020. The company also plans to invest $3 billion in improving its digital operations, which will include hiring more online customer service representatives.
Zara
Men’s Wearhouse
Last summer, Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Bank announced that nearly 500 stories would be closed “over time.” The COVID-19 pandemic wreaked havoc on the men’s apparel industry, as customers relocated to new jobs that required less formal attire. Since filing for bankruptcy in August and completing the final steps of the Chapter 11 proceedings in November, the company has been slowly recovering.
Men’s Wearhouse
Chico’s
According to CEO George J. C. Becker, Chico’s has committed to making a genuine effort to close 250 locations over the next three years, and appears to be on track to meet that goal. One of the women’s apparel stores has increased its e-commerce activity and sales in order to provide more outlets.
Chico’s
Abercrombie & Fitch
Abercrombie & Fitch’s four most prominent flagship locations will close by the end of January 2021. Closures will take place primarily in London, Paris, Munich, and Dusseldorf, Germany, and were planned before the COVID-19 outbreak. Three more key stores in Brussels, Madrid, and Fukuoka, Japan, will close this year when their leases expire.
Abercrombie & Fitch
Nine West
Nine West is trying to restructure its debts by selling off parts of the company and filing for Chapter 11 bankruptcy. All of this was made possible by the company’s $1.5 billion debt. All but 25 of the shoe retailer’s stores would close, and the Easy Spirit brand would be phased out. Anne Klein, One Jeanswear Group, and Kasper Grouper are among the jewelry and apparel companies that the company wants to focus on.
Screenshot 12
Payless
Payless ShoeSource plans to close the most stores this year of any company. To get rid of their inventory and sell their outlets, the corporation plans to close over 2,500 stores and have clearance sales. Some stores will remain open until the end of May, while others will close by March 31st.
Payless
Gymboree
Gymboree Group Inc, a children’s apparel retailer, filed for Chapter 11 bankruptcy protection in mid-January. They have announced the closure of approximately 800 Gymboree and Crazy 8 locations in the United States and Canada. It has stopped taking orders online and has begun liquidation sales in supermarkets. Gymboree has declared bankruptcy for the second time in the last two years. Last year, the company shut down a number of locations.
Gymboree
Charlotte Russe
Charlotte Russe announced the closure of the entire network in March of this year. Yes, it covers roughly 500 locations across the United States. The company announced the closure of 94 locations earlier this year. By April 30, 2019, all of the others had shut down. The company has also halted online purchases; however, items can still be purchased at liquidation sales in select locations.
Charlotte Russe
Starbucks
Starbucks announced in the summer that 150 underperforming stores would be closed. This is three times what it closes with at the end of the fiscal year. The closures, according to the corporation, would affect large cities with oversaturated markets. The coffee chain segments compete against one another in some places.
Starbucks
Christopher & Banks
Christopher & Banks announced in late 2018 that 30 to 40 of their stores would close by 2020. This does not, however, imply that the company’s revenues are declining. The company’s e-commerce division has grown significantly in recent years. This year, it’s also expected to skyrocket!
Christopher & Banks
e.l.f Cosmetics
e.l.f. Cosmetics, like the other companies on the list, plans to close physical locations and focus on e-commerce instead. By the end of March 2019, twenty-two of its locations had closed. Customers of this company, on the other hand, should not be concerned because their products are still available on the company’s official website as well as in drugstores across the country.
elf
Destination Maternity
Destination Maternity Corp. intends to reduce its reliance on its retail presence in order to revitalize the business and boost e-commerce revenues. Around 42 to 67 retail locations will close this year. They did so in order to save money in the store and to increase their online presence. According to USA Today, the corporation also intends to build smaller stores “with decreased square footage to achieve improved efficiency.”
Destination Maternity
Foot Locker
Foot Locker Inc. announced the closure of 167 stores in March 2019. It planned to increase its investment in the remaining sites by millions of dollars. This decision was made to increase profit margins. Stockholders were astounded by the retailer’s performance in the fourth quarter of 2018.
Foot Locker
J. Crew
J.Crew appeared to be in the news a lot lately. Following the departure of its CEO in 2018, the company began the new year by closing six locations. The store closures are part of a larger plan to close 30 locations. Last summer, they made the proposal public. We don’t know, however, which locations they plan to close in order to meet their targets.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is having the same problems as GNC. To get around these problems, they’re focusing on e-commerce and building a subscription business. In 2017, revenue was $1.2 billion, down 8.5 percent from the previous year. The problem is due to a decline in the popularity of shopping malls, as well as the emergence of competitors. With their category expansion, distribution services, and marketing efforts, we’re hoping they’ll be able to break free soon!
The Vitamin Shoppe Store
Bebe
After Neda Mashouf, the creative director and wife of founder Manny Mashouf, left the company, Bebe’s revenues began to decline. The logo was created in 1979. As shopping malls faded away, the company faced a number of difficulties. Bebe had a $4.6 million net loss the previous year. It also paid $65 million to close retail stores and concentrate on e-commerce.
Bebe
David’s Bridal
Wedding gowns and elaborate ceremonies appear to be relics of a bygone era. Less formal weddings and less expensive gowns are becoming more popular among brides. For David’s Bridal and other bridal gown retailers, this is bad news. This brand’s popularity is steadily dwindling. They also owe a $520 million loan and $270 million in unsecured notes, both of which are due in 2020.
David’s Bridal
Bon-Ton
Bon-Ton, the online retailer and department store, has been in business for over a century, but it’s time to say goodbye. The store went bankrupt last year, and all of its locations were closed. In 2018, it did reopen for e-commerce and a few stores. They were initially very successful because they worked in small communities with little competition. Amazon, of course, tinkering with it.
Bon-Ton
Claire’s
Claire’s began in 1961 as an accessories store. For a long time, it was a favorite shop of many young American ladies. In 2018, the company postponed its IPO and filed for Chapter 11 bankruptcy protection. It closed more than 130 locations across the country in May of that year.
Claire’s
Southeastern Grocers
Sales are also down in grocery stores. Winn-Dixie, Bi-Lo, and Harveys are all owned by Southeastern Grocers, which has announced the closure of 22 of its stores by March 25, 2019. In less than a year, the company was able to emerge from Chapter 11 bankruptcy. 94 stores were forced to close during that time period. Bi-Lo will be the most affected of the three brands it controls, with 13 locations expected to close.
Southeastern Grocers
Shopko
Shopko previously stated that it intended to close 70% of its stores by May 2019. They eventually reversed their decision and announced that all stores would be permanently closed. Shopko filed for bankruptcy in January 2019, hoping to find a buyer who could assist it in resolving this crisis. It was unable to find a buyer and made unsuccessful attempts to sell all of its assets. By June 2019, it had closed all of its locations.
Shopko
Performance Bicycle
We have some bad news for you if you enjoy cycling. The country’s largest bicycle retailer has closed its doors. On March 2, the last of its 104 stores closed. Advanced Sports Enterprises shut down in October of last year. It had hoped to renegotiate leases in order to save at least half of its locations at first. Regrettably, the company had no choice but to fold and close.
Performance Bicycle
Lowe’s
Lowe’s is a well-known home-improvement store. 51 unprofitable locations have been closed by the company so far. The closings took place in the year 2019. There were 20 locations in the United States and 31 in Canada that were closed. By the end of 2018, the company had announced its plans to close all of its locations by February 1, 2020. When veteran CEO Robert Niblock stepped down and was replaced by Marvin R. Ellison, former CEO of J.C. Penney, the decision to close stores was made.
Lowe’s
Vera Bradley
Vera Bradley is reconsidering its business strategy, preferring licensing over physical sites. The company is looking into selling household goods at stores like Bed Bath & Beyond and Macy’s. It intends to close up to 50 of its 110 locations by 2021. Several of the leases would be up for renewal at that time. However, 52 Vera Bradley factory stores are still operating, making it possible to visit one.
Vera Bradley
Henri Bendel
Henri Bendel closed all of its 24 locations across the country in early 2020. The parent company, L Brands, announced in the fall of 2018 that the entire brand, including the website and the popular Fifth Avenue store, would be shut down. The company chose to concentrate on high-potential brands such as Victoria’s Secret and Bath & Body Works.
Henri Bendel
Family Dollar
Dollar Tree has announced that approximately 390 Family Dollar locations will close in 2020. Personal care products and other necessities will have to be purchased elsewhere. This organization’s branches have been renamed in the neighborhood of 200. In the future, it also wishes to improve. In the near future, they intend to raise the prices of their products in a few locations.
Family Dollar
J.C. Penney
J.C. Penney has been a mall mainstay for years, but sales have been declining in recent months. It had a dry spell during the holiday season, and its stock value plummeted. As a result of these concerns, the company has decided to close 18 department stores by 2020. In addition, nine furniture stores will be shut down. As a result, a total of 27 sites will be closed.
J.C. Penney
Z Gallerie
Z Gallerie is a high-end furniture retailer. It has recently joined the ranks of retailers who have declared bankruptcy. According to reports, the company is looking for a buyer who can help it avoid bankruptcy. Until then, the company is closing 17 locations across the country, which accounts for roughly 20% of its total.
Z Gallerie
Beauty Brands
In 2018, Beauty Brands has announced that 25 of its locations will close. The company filed for bankruptcy in January of that year, and its corporate staff was cut in half. According to the company’s bankruptcy filing, its operational costs had risen dramatically since it was a “predominantly brick and mortar shop.”
Beauty Brands
Things Remembered
Things Remembered filed for bankruptcy protection under Chapter 11 in February 2019. It’s a good thing a company bought it out, because it saved a lot of the company’s stores from closure. 176 of its locations were purchased by Enesco LLC! Unfortunately, for some locations, it was a little late. The gift shop had already closed 450 locations by that time. Furthermore, 250 stores were set to close.
Things Remembered
Ascena Retail
What do Dress Barn, Loft, Ann Taylor, and Lane Bryant have in common? The answer is Ascena Retail, which is a parent company. Unfortunately, the company has not been doing well in terms of sales in recent years. To compensate, it plans to close hundreds of locations across its brands. The intention is to close 667 locations. The first few hundreds were held in July of this year.
Ascena Retail
Lord & Taylor
Lord & Taylor has decided to close its flagship store after more than a century of operation. We’re talking about the Fifth Avenue location! It’s heartbreaking to learn that so many iconic locations are closing. Whatever happens, that can’t be good. The retailer also planned to close ten more stores in 2020.
Lord & Taylor
Kohl’s
Kohl’s closed four locations in or near malls in the hopes of avoiding the same fate as its fellow mall retailers. The company stated that they chose “lower-performing” stores and that employees were given either a severance package or a transfer to another location. The closures appear to be preventative, which we think is a good thing. It intends to replace them with four smaller ones.
Kohl’s
99 Cents Only
We all love 99 Cents Only because they sell low-cost items. It competes with similar stores such as Walmart, Dollar Tree, and Dollar General. It had a net loss of $27.1 million in December 2017, as well as losses of $42.4 million in the first and second quarters of the year. Before selling it to Canada Pension Plan, Ares Management purchased it. It has now been entrusted to a private family. Since then, the company’s new CEO, Jack Sinclair, has reported positive same-store sales. Unfortunately, it is impossible to deny that the discount store is in decline.
99 Cents Only
Neiman Marcus
In 2017, Neiman Marcus’ top-line sales of $4.7 billion were down 5% from the previous year. The recommendations included laying off 200 employees and focusing on a “Digital First” strategy. A rumor circulated that Hudson’s Bay, a Canadian company, was interested in purchasing it, but this did not materialize.
Neiman Marcus
Cole Haan
This luxury footwear retailer was named to USA Today’s list of at-risk companies in 2018. Cole Haan began to shake things up by focusing less on dress shoes and more on athletic footwear. This did not turn out to be as successful as they had hoped. In 2013, Apax Partners bought it out, and Nike comfort technology was phased out. We regret to inform you that the brand’s fortunes have yet to improve.
Cole Haan
FullBeauty Brands Holdings Corp
Are you familiar with FullBeauty Brands Holding Corp? Roaman’s, Ellos, Kingsize, Brylane Home, Jessica London, Woman Within, and fullbeauty.com are some of the plus-size clothing brands it owns. Amazon is now being blamed for the company’s declining sales. In the first quarter of 2017, the company saw a 30 percent drop in revenue. Things may still improve now that new people are in charge of the brand.
FullBeauty Brands Holdings Corp
Eddie Bauer
Eddie Bauer, based in Bellevue, is best known for its outdoor gear. After filing for bankruptcy in 2009, it was able to recover. We have no idea what will happen to this company. It dealt with the bad news that S&P Global had downgraded its credit rating. It will most likely merge with PacSun.
Eddie Bauer
Mattress Firm
Mattress Firm has also filed for Chapter 11 bankruptcy, which is unfortunate. Some of its problems can be traced back to an accounting problem. Since then, the company has announced that 700 of the 3,500 stores will be sold. By terminating costly leases and restructuring, the mattress retailer hopes to improve things.
Mattress Firm
GNC
Since 1935, this nutrition and diet product retailer has been a market leader. GNC, on the other hand, has begun to lose weight. It filed for bankruptcy and announced that 800 to 1,200 locations would be closed. In the United States, the company operates 7,300 stores, including 3,600 standalone locations. In Rite Aid pharmacies, there are also 1,600 mini stores. It claims on its website that it has been financially struggling for the past few years. On the plus side, it has allowed me to pay down debt and stay connected online.
GNC
Pier 1 Imports
Pier 1 Imports has since ceased operations, along with its silk pillows, scented candles, and Papasan chairs. The home furnishings retailer began the year by announcing the closure of nearly half of its locations. It declared bankruptcy and attempted to sell itself. In the end, it decided to close all of its stores and put an end to its legacy. It was founded in 1962 in San Mateo, California. It only had one storefront that sold incense, bean bags, and love beads back then.
Pier 1 Imports
New York & Co.
New York & Co. announced in 2020 that it would close over 25 stores by early February. This followed a relatively quiet holiday season the previous year. The online success of the women’s fashion and accessory retailer outpaced that of its physical locations. Prior to the outbreak of the pandemic, this was its diagnosis. They only had 380 people working for them at the time.
New York & Co.
Stein Mart
Many retailers suffered during the pandemic, despite having spent decades in the industry. For over a century, Stein Mart has been in the game. The discount department store chain, which was founded in 1908, has filed for bankruptcy. On top of that, it said that it would shut down “a significant portion, if not all, of its brick-and-mortar stores.” There are over 280 locations in 30 states. The chain is popular among customers because it sells reasonably priced clothing, jewelry, shoes, luggage, and bedding.
Stein Mart
AT&T
Did you know AT&T is planning to close 250 retail locations? This includes its AT&T and Cricket Wireless stores. The Communications Workers of America estimates that 1,300 people will be affected by the store closures. According to CNN, the company wants to provide them with remote work opportunities. The store closures came just two years after the company announced plans to open over a thousand new ones.
AT&T
Tuesday Morning
Who would have guessed that even a deep-discount retailer like Tuesday Morning would be struggling? The company declared bankruptcy and announced that it would hold liquidation sales as it prepares to close 230 stores in the summer of 2020. In a press release, CEO Steve Becker stated: “The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business.”
Tuesday Morning
Family Video
Aside from Blockbuster, there is another video rental company that is still in business. Family Video rents out Blu-rays and DVDs, though many of their locations have been struggling recently. According to the Times of Northwest Indiana, it is the “largest movie and game rental chain” in the nation. Sadly, it is now closing hundreds of stores. The company said that “recent events have caused us to make some tough business decisions on its website.” Too bad.
Family Video
Art Van Furniture
Art Van Furniture and Mattress has been a Midwest institution for a long time. Regrettably, now that it has filed for bankruptcy, the region will have to adjust to its absence. This occurred just a few days after the company announced that all of its stores in eight states would close in March. Wayfair and Amazon have taken away its customers. Diane Charles, a spokesperson for the company, stated in the filing, “Despite our best efforts to remain open, the company’s brands and operating performance have been hit hard by a challenging retail environment.”
Art Van Furniture
Papyrus
It would be appropriate to get a greeting card that reads, “We’re sorry to see you go.” This upscale greeting card and stationery retailer used to have locations all over the country, but it has since closed. Schurman Retail Group is the parent company. It declared bankruptcy and announced that all of its locations would close. Since then, 254 American Greetings, Carlton Cards, and Papyrus locations have permanently closed their doors. There were 178 of them in the United States, with the rest in Canada.
Papyrus
Forever 21
You might be surprised to learn this as one of the largest fast fashion retailers on the market. Forever 21 is the go-to store for teenagers looking for trendy clothing at an affordable price. The game has changed now that they are questioning the ethics of disposable clothing, such as the retailer’s offerings. Forever 21 filed for bankruptcy as a result of this. Furthermore, it shut down some of its operations. There are approximately 350 stores worldwide, with nearly 200 in the United States.
Forever 21