Macy’s
Macy’s was one of the most recent retailers that announced a round of cutbacks as soon as possible. Macy’s made an official announcement that forty-five of its shops would shut down permanently in 2021. CNBC reported that the closures were one of Macy’s more comprehensive strategies to close 125 of their stores on or before 2023, and it would indeed limit the company’s name when it came to high-end retail.
Macy’s
Bed Bath & Beyond
Bed Bath & Beyond shut down 200 of its stores in the past year, and the company had plans to close two hundred more of its stores in 2021. USA Today reported that Bed Bath & Beyond would eliminate forty-three more branches, which would be permanently closed. Nineteen states would be affected by the decision, and California had nine units that would shut down.
Bed Bath & Beyond
Express
Express made an official announcement to shut down one hundred of their stores on or before 2022 and closed thirty-one branches across twenty states last January 2020. Thirty-five more locations would permanently close between January 1 and December 31, 2021, followed by twenty-five more in 2022.
Express
Office Depot
Office Depot had an official announcement last spring about its reorganization plan that would extend until 2021. Office Depot was a supply company that had plans to shut down several of its stores and fire an estimated 13,000 of its workers on or before 2023. Some sources claimed that the decision was a part of its plans to convert from a traditional store to an IT services provider.
Office Depot
Walgreens
Walgreens announced the layoffs in 2019 and shut down an estimate of two hundred stores across the United States since its announcement. Walgreens’ store closure was equivalent to three percent of the pharmacy company’s total count and was estimated to be 9,600 branches worldwide.
Walgreens
The Children’s Place
The Children’s Place would shut down several of its stores within the year, and The Children’s Place already announced plans to close two hundred of its stores in 2020. A hundred more of The Children’s Place’s branches would be eliminated in 2021. Today speculated that the company would cease the operations of its mall-based stores.
The Children’s Place
J.C. Penney
JCPenney liquidated an estimate of one hundred fifty of its branches last year and announced that they would seize the operations of fifteen more stores. JCPenney’s official statement was, “As part of our shop optimization approach, which began in June with our financial restructuring, we have planned to close an additional 15 locations. Liquidation sales will begin towards the end of this month, and the stores will close to the general public in mid- to late March.”
J.C. Penney
Francesca’s
Francesca announced last November 2020 about its plans to shut down an estimate of 140 stores on or before January 31, 2021. Francesca’s filed for Chapter 11 bankruptcy last December and was set on selling the company together with its physical stores. USA Today reported that the company had 558 branches but had “plans to renegotiate a number of leases throughout this period, which may include closing new boutiques.”
Francesca’s
Signet Jewelers
Signet Jewelers operated in several cities worldwide under several names like Jared The Galleria of Jewelry, Kay Jewelers, Piercing Pagoda, and Zales. The company had plans to shut down several of its stores within the year and announced last 2020 that it would not reopen 150 North American stores. An additional 150 stores ceased their operations by the end of February 2021.
Signet Jewelers
Pet Valu
Pet Valu was included in the list of companies that shut down several of its stores because of the COVID-19 outbreak. The pet supplies company announced that it would cease its 358 stores and warehouses all around the United States. Pet Valu no longer allowed its customers to purchase from the company’s website, which resulted in closing sales going down throughout the world/
Pet Valu
Justice
Justice ceased the operations of 600 of its stores last year and had plans to close the last few stores within the year. Ascena Retail Group Inc was Justice’s parent company, and it announced its plans to shut down the company in November. It would result in closing 108 stores by early 2021.
Justice
GameStop
GameStop announced its decision to close several locations despite closing hundreds of its branches in the past two years. GameStop targeted to shut down around a thousand stores before the end of its fiscal year in March. The video game retailer’s closures were due to a decade of financial issues for the gaming behemoth and had troubles repaying its debts after a loss of $458 million.
GameStop
Sears
Sears was one of Transformco’s child companies with a severe drop in revenue after declaring bankruptcy last 2019. Sears ceased the operations of more than fifty percent of its branches in the previous two years. CNN reported that the chain was struggling amid a “slow-motion liquidation.” Sears was planning to liquidate its outlets and advertised various properties with commercial real estate agents as soon as possible.
Sears
The Disney Store
Disney announced that more than sixty of its Disney Stores across North America would cease its operations on or before 2021. According to The Disney Store, e-commerce, social media, and theme park shopping enterprises would be prioritized. The company had more than 300 stores globally, and 200 of them were in North America as of 2016.
The Disney Store
Kmart
Transform purchased Kmart, and like Sears, it announced its plans to close several of its stores. Kmart would cease the operations of several branches and had forty-eight locations left. It was unfortunate that it would close a few more stores within the year as the commercial real estate market gradually recovered.
Kmart
H&M
H&M announced its plans to shut down 250 stores on or before 2021 after the liquidation of its 180 branches last 2020. H&M’s decision was due to the COVID 19 outbreak accompanied by online shopping’s growing trend. Helena Helmerson said, “After the epidemic, more and more buyers began buying online 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 closed 250 stores across the United States and Canada last year and announced its plans to cease the operations of more branches in the next two years. Stuart Burgdoerfer, Victoria’s Secret CEO, announced the closures last May 2020 and said, “We would expect a large number of slow store closures outside of the 250 we’re aiming for this year, suggesting that there would be more in 2021 and probably a little more in 2022.”
Victoria’s Secret
Gap
Gap had plans to decrease its physical stores within two years significantly and announced last October 2020 that it would shut down 220 branches all around North America on or before 2023. The decision was made because of Gap’s new strategy to focus on city centres and supermarkets instead of malls.
Gap
Banana Republic
Gap was the parent company of Banana Republic, and the company started to prepare for its closure. The Banana Republic would cease the operations of 130 stores on or before 2023, and together with Gap, the chain would shut down an estimated 350 stores equivalent to a third of its North American branches.
Banana Republic
Carter’s
Carter’s officially announced the closure of hundreds of its stores due to lease expirations. Carter’s was a children’s clothes and accessories company that planned to shut down more than two hundred branches, and 60% of them would cease operations on or before December 31, 2021. The other stores would shut down on December 31, 2022.
Carter’s
American Eagle
American Eagle officially announced its plan to shut down a range of forty to fifty stores before December 31, 2020, and the remaining outlets would cease operations in 2021. The firm executives mentioned that the leases would expire within two years, and American Eagle would close 500 branches by then. Mike Mathias, the CEO, said that the firm would consider “lease tenure, mall profile, accessibility to other merchants, and customer experience level.”
American Eagle
Zara
Zara would change its direction and start prioritizing online shopping instead of its physical stores. The leading cause of the decision was the COVID 19 outbreak. Inditex, the parent company of Zara, officially announced that it would cease its 1,200 branches across the world within the next three years, and it started last 2020. Zara planned to invest three billion dollars in improving its digital operations.
Zara
Men’s Wearhouse
Tailored Brands was known to be Men’s Wearhouse and Jos. A. Bank’s parent company announced the closure of 500 of its stores. The company was significantly affected by the COVID 19 outbreak, and customers shifted to new jobs that did not require formal outfits. Men’s Wearhouse applied for Chapter 11 bankruptcy last November, and the company was gradually recovering from the loss.
Men’s Wearhouse
Chico’s
George J. C. Becker, Chico’s CEO, announced that the company was eagerly putting its best foot forward to close more than two hundred stores within three years. It seemed like Chico’s was consistent and on schedule in reaching its goal. One of Chico’s fashion stores improved its online commerce sales and activity to provide more avenues for its customers.
Chico’s
Abercrombie & Fitch
Abercrombie & Fitch had four significant stores that would cease operations on or before January 31, 2021. Most of Abercrombie & Fitch’s stores in London, Munich, Paris, and Dusseldorf, Germany, planned to shut down before the COVID 19 outbreak. Abercrombie & Fitch’s stores in Brussels, Madrid, and Fukuoka, Japan, would shut down within the year upon the leases’ expirations.
Abercrombie & Fitch
Nine West
Nine West tried to settle most of its debts by negotiating parts of the company and applying for Chapter 11 bankruptcy. Nine West had a $1.5 billion deficit, but twenty-five of its stores would remain. Nine West’s Easy Spirit brand would phase out, and Nine West would focus on Anne Klein, Kasper Grouper, and One Jeanswear.
Screenshot 12
Payless
Payless ShoeSource was one of the companies that had the most store closures planned for the year. Payless ShoeSource would eliminate its inventory, sell its branches, liquidate 2,500 stores and initiate clearance sales. A few of its outlets would stay open until the end of May, but most of the stores would be closed by March 31.
Payless
Gymboree
Gymboree Group Inc was one of the children’s clothing stores that filed for Chapter 11 bankruptcy in mid-January. Gymboree Group Inc officially announced its eight hundred Gymboree and Crazy 8 branches across the United States and Canada. The company stopped accepting online orders and started liquidating its supermarket sales. Gymboree declared bankruptcy twice within two years and shut down several of its outlets last year.
Gymboree
Charlotte Russe
Charlotte Russe officially announced its entire network’s closure last March, and it affected 500 locations across the United States. Charlotte Russe also announced its 94 stores’ closure earlier and had shut down everything before April 30. Charlotte Russe stopped accepting online sales, but some of its items could still be bought at liquidation sales in particular places.
Charlotte Russe
Starbucks
Starbucks announced that it would close down 150 of its underperforming stores. It was based on the amount where they could earn in a fiscal year. The firm said that the stores would close in the metropolitan cities where the markets are oversaturated. It was because the coffee chain was competing with each other in different places.
Starbucks
Christopher & Banks
Christopher & Banks announced that 30 to 40 of their locations would shut down in 2020 in 2018. The reason was not that their sales were declining, but that they would focus on e-commerce. Since they had tried e-commerce, their sales rose in the past years. They also thought that this year, their sales would also increase significantly.
Christopher & Banks
e.l.f Cosmetics
e.l.f Cosmetics also suffered from closing some of their stores to concentrate on e-commerce similar to other famous brands. In March 2019, 22 of their stores had been closed down. To those who loved to buy the items of the store should not be sad. It was still available on the company’s website. We could also buy it at drugstores throughout the country.
elf
Destination Maternity
Destination Maternity Corp concentrated on e-commerce to increase their sales and to survive their business. Unfortunately, the corp also suffered from shutting down some of their stores. There were 42 to 67 locations that they closed in a year. They had decided to close those stores to save money. In the USA Today, Destination Maternity Corp would try to make small stores “with reduced square footage to boost productivity.”
Destination Maternity
Foot Locker
Foot Locker told the public that they would close down 167 of its stores in 2019 March. It thought that they could add their investment to other sites. Foot Locker hoped that their decision would increase their profit. Fortunately, The stockholders were amazed at the performance that Foot Locker had made in 2018.
Foot Locker
J. Crew
J.Crew became a headline in the news after their CEO left in 2018, and the company started the new year by shutting down 6 of its stores. It also planned to close down 30 of its locations. In the previous summer, they announced the proposal to the public. There was not enough information about what store they would decide to stop operating in the future. It was the plan that they thought to obtain their targets.
J. Crew
Vitamin Shoppe
Vitamin Shoppe was also encountering the problem of GNC. It thought that they could solve the problem by concentrating on e-commerce. However, Vitamin Shoppe’s revenue was $1.2 billion, a decrease from 8.5% last year. The problem was it could not attract customers who were visiting the shopping malls. Fortunately, they were optimistic that they could increase their sales because of the expansion, distribution services, and marketing efforts.
The Vitamin Shoppe Store
Bebe
Bebe sales declined after Neda Mashouf left the company. Neda was the creative director and the wife of Manny Mashouf. Bebe was created in 1979, and since the current age, customers were always shopping online, it affected the sales of Bebe. The logo was facing a $4.6 million net deficit last year. Bebe tried to use $65 million to shut down some of their stores and tried to focus on e-commerce.
Bebe
David’s Bridal
David’s Bridal was known as the formal wedding dress and cheaper gowns famous in the past era. However, in the current period, fewer people decided to wear this kind of thing. It was bad news for David’s Bridal since it would affect their sales. Because of the decrease in sales, they got a $520 million loan and $270 million unsecured notes. All the debt would be due in 2020.
David’s Bridal
Bon-Ton
Bon-ton had been operational for a century. Unfortunately, we would say goodbye to the online retailer and department store. Last year, the store became bankrupt, which led to the closing down of all of their stores. However, some of their stores opened, and they also tried e-commerce in 2018. It became effective, which increased their sales, especially in small towns where they did not have many rivals. However, their biggest threat was the Amazon.
Bon-Ton
Claire’s
Claire’s began as a store of accessories. It was established in 1961 and operated for many years. It was famous for American female customers. Unfortunately, the company decided to file for Chapter 11 bankruptcy protection in 2018. It led to the companies closing down 130 of their stories throughout the country. All of the shutting down of stores was started in May in that same year.
Claire’s
Southeastern Grocers
Southeastern Grocery also suffered from a decrease in sales, which led to shutting down 22 stores. Southeastern Grocers was the parent company of Winn-Dixie, Bi-Lo, and Harvey. Fortunately, the company found a way to recover from its Chapter 11 bankruptcy case in less than a year. However, there were still 94 of their stores that stopped operating, and Bi-Lo was the brand that suffered the most since there were still 13 outlets that would be shutting down.
Southeastern Grocers
Shopko
Shopko recently told the public that 70% of their stores would discontinue the operation in May. Later, they had announced that instead of 70%, they would close all of their locations. In 2019 January, Shopko decided to file bankruptcy. It hoped that a buyer would come to help them survive the default, but they did not find one. It led to closing down all of their stores in 2019 June.
Shopko
Performance Bicycle
Performance Bicycles was not safe when we talked about stores that were shutting down. It was the largest bicycle retailer, but on March 2, it decided to close 104 of its stores. Advanced Sports Enterprises also stopped operating last year in October. The company prayed that they could renegotiate the lease to continue the operation of half of their stores. Unfortunately, the company was not successful, which led to discontinuing the operation of their stores.
Performance Bicycle
Lowe’s
Lowe’s was a famous garden and home shop, but the company decided to shut down 51 stores. It was in 2019 when 20 stores in the United States and 31 in Canada had closed down. The company had announced its plan in 2018 and chose to close the stores on February 1, 2020. When CEO Robert Niblock decided to retire, and J.C. Penney CEO Marvin R. Ellison took his position.
Lowe’s
Vera Bradley
Vera Bradley tried to plan how they could increase their sales. It decided to focus on licensing rather than physical sites. The company was trying to sell its household goods to Bed Bath & Beyond and Macy’s. Vera Bradley also planned to close down 50 out of its 110 stores in 2021. In that year, some of the leases needed to be renewed. There were still 52 Vera Bradley that were still operating.
Vera Bradley
Henri Bendel
Henri Bendel decided to close 24 of its stores in 2020. L Brands, the parent company, said that they would shut down the whole brand. They would also close down the website and the famous Fifth Avenue Store. The company decided to focus on Victoria’s Secret and Bath & Body Works brands, where they thought it had potential.
Henri Bendel
Family Dollar
Dollar tree declared that it would shut down 390 of its stores in 2020. The discount retailer was known for its personal care supplies and other necessities. However, the customer needs to find another discounted retailer to look for what they need since many stores had stopped operating. The organization had renamed 200 of its branches and hoped that it would become successful in the future. They also decided to increase the price of the item in some of their stores.
Family Dollar
J.C. Penney
J.C Penney became well-known for many years. Unfortunately, they also did not escape the decline of sales in the past few months. The company was not fortunate when the holiday season came, which resulted in a massive drop in their stocks. Because of the decrease in their sales, J.C Penney decided to shut down 18 department stores in 2020. The company also decided to close down 9 of its furniture stores. There were a total of 27 sites that stopped operating.
J.C. Penney
Z Gallerie
Z Gallerie was a well-known high-end furniture retailer. It was also a retailer that announced that they filed a bankruptcy similar to others on the list. There were rumors that the company was searching for a buyer to prevent bankruptcy. Since their announcement, there were 17 facilities throughout the country that closed down. It was 20% of their total facilities.
Z Gallerie
Beauty Brands
Beauty Brand had told the public that they would shut down their 25 sites in 2018. The company decided to file for bankruptcy in January. It was not only the issue they were facing since they chose to decrease their corporate staff by half. The company declared that its operational costs had increased and described it as a “predominantly brick and mortar establishment.”
Beauty Brands