Macy’s
Macy’s has announced the closure of some of its stores in the coming years. They recently announced that they plan to close 45 shops permanently by January of 2021. CNBC says this is just part of Macy’s larger plan to close down a total of 125 shops by 2023. This will restrict their presence in top-tier malls.
Macy’s
Bed Bath & Beyond
Bed Bath & Beyond announced 200 shops last year and expects to shut another 200 in 2021. According to USA Today, 43 more locations would close indefinitely by the end of February. The closures would take place in 19 jurisdictions, nine of which are in California.
Bed Bath & Beyond
Express
Express stated last year that it plans to shutter 100 of its stores by 2022, starting with 31 locations in 20 states in January 2020. Another 35 shops are set to close by the end of January 2021, with another 25 following the following year.
Express
Office Depot
The downsizing plan announced by Office Depot this spring would run until 2021. The office supply firm would then liquidate an unspecified number of stores and lay off approximately 13,000 workers by 2023. The initiatives, according to sources, are part of the company’s ongoing efforts to save costs as it transforms from a traditional shop to an IT services provider.
Office Depot
Walgreens
Walgreens is presently shutting over 200 of its stores in the United States after announcing the closures in 2019. The closures would amount to less than 3% of the drugstore chain’s total store count, which is now around 9,600 globally.
Walgreens
The Children’s Place
This year, The Children’s Place will also liquidate a lot of locations around the globe. Last year, the children’s clothing retailer announced plans to shut 200 locations in 2020 and another 100 by the end of 2021. According to “Today,” the company has not disclosed which stores would close, although it primarily targets “mall-based” sites.
The Children’s Place
J.C. Penney
J.C. Penney will close additional shops this spring after declaring bankruptcy and closing more than 150 locations last year. In December, the department store company said that it plans to shutter an additional 15 locations by the end of March 2021. J.C. Penney stated in a statement to USA Today, “We also chose to shutter an additional 15 shops as part of our shop optimization plan, which began in June with our financial restructuring.” “These stores will begin liquidation sales later this month and will close to the public in mid to late March.”
J.C. Penney
Francesca’s
In November 2020, Francesca declared that it would close about 140 locations by the end of January 2021. The women’s boutique chain filed for Chapter 11 bankruptcy in December, with plans to sell the company, along with its physical stores. According to USA Today, the company presently operates 558 locations but “plans to renegotiate a variety of leases via this process, which might result in the closure of additional boutiques,” according to a statement issued to the magazine.
Francesca’s
Signet Jewelers
Signet Jewelers, which works under the labels Kay Jewelers, Zales, Jared The Galleria Of Jewelry, and Piercing Pagoda across the globe, is also closing more shops this year. The diamond jewelry company acknowledged in 2020 that it would not reopen at least 150 North American locations that had been temporarily closed because of the COVID-19 epidemic in March. Another 150 shops are scheduled to shut by the end of February 2021.
Signet Jewelers
Pet Valu
Pet Valu has also joined the list of businesses that have gone out of business due to the coronavirus epidemic. In November 2020, the pet supplies business announced that it would close all 358 stores and warehouses across the United States. As a result, buyers will no longer place purchases on the company’s website, although closing sales have already begun in countries worldwide.
Pet Valu
Justice
After officially closing over 600 shops last year, Justice is set to close its remaining stores this year. The parent firm, Ascena Retail Group Inc., revealed plans to shutter the tween girl business in November, with the 108 remaining shops set to close by early 2021.
Justice
GameStop
GameStop, which has closed hundreds of stores in the last two years, plans to liquidate many more in 2021. The video game retailer revealed plans to shut over 1,000 stores by the end of its fiscal year in March. The closures follow almost a decade of financial troubles for the gambling powerhouse, seeking to repay its debts following a $458 million net loss in 2018.
GameStop
Sears
Sears, which Transformco operates, has seen a huge drop in revenues after going bankrupt in 2018 and closing the majority of its shops over the preceding two years. According to CNN, the struggling company is going through a “slow-motion liquidation.” It would start shutting locations where possible over the next year and selling certain properties with commercial real estate brokers.
Sears
The Disney Store
On March 3, Disney announced that about 60 of its North American Disney Stores would shut by the end of 2021. Instead, E-commerce, social networking, and theme park retail initiatives will be favored, according to the group. As of 2016, the company had 330 locations globally, with 200 in North America.
The Disney Store
Kmart
Kmart, owned by the same parent company as Sears, Transformco, is also closing its doors. The firm has cut its total store count to 48, with further closures expected next year as the commercial real estate market improves.
Kmart
H&M
H&M expects to shut another 250 stores in 2021, following the closure of 180 locations in 2020. The retailer’s decision was largely influenced by the coronavirus epidemic and the growing trend of internet sales. H&M CEO Helena Helmersson told “Good Morning America” that “more and more consumers began buying online following the epidemic, and they are making it clear that they appreciate a safe and empowered atmosphere in which shops and online interact and reinforce each other.”
H&M
Victoria’s Secret
Victoria’s Secret is likely to close more locations in the next two years, following the closure of 250 outlets in the United States and Canada last year. Victoria’s Secret CEO Stuart Burgdoerfer officially addressed the planned closings on an earnings call with investors in May 2020. According to USA Today, he stated, “We will anticipate a substantial amount of incremental store closures outside of the 250 that we’re targeting this year, implying that there will be more in 2021 and perhaps a little more in 2022.”
Victoria’s Secret
Gap
Gap expects to decrease its physical footprint during the next two years severely. Gap Inc. announced in October 2020 that it would shut 220 Gap locations across North America by the end of 2023. The shop closures are part of the retailer’s aim to shift away from malls and focus on city centers and stores.
Gap
Banana Republic
Gap Inc. also operates the Banana Republic, which will shut several locations. The business intends to shut 130 Banana Republic shops by 2023. In addition, between the Banana Republic and Gap, the company would shut 350 locations, accounting for about one-third of its North American branches.
Banana Republic
Carter’s
Carter’s is now closing hundreds of stores indefinitely as contracts for those sites expire in the coming months. The children’s clothes and accessories retailer announced plans to liquidate approximately 200 stores in October 2020, with roughly 60% of those sites projected to close by the end of 2021. The existing shops will close at the end of 2022.
Carter’s
American Eagle
After announcing plans to eliminate 40 to 50 stores by 2020, they may complete additional American Eagle facilities this year. Last autumn, management announced that the retailer is considering closing up to 500 stores over the next two years as leases expire. When determining which stores to close permanently, Chief Financial Officer Mike Mathias told Retail Dive that the retailer examines “lease tenure, mall profile, accessibility to other stores, and consumer experience level.”
American Eagle
Zara
In the aftermath of the coronavirus outbreak, Zara is moving its attention away from physical stores and online purchases. Inditex, the garment brand’s holding company, announced last summer that it would close up to 1,200 locations worldwide over the following three years, beginning in 2020. The company also plans to spend $3 billion on boosting its digital activities, including expanding its online customer service workforce.
Zara
Men’s Wearhouse
Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Bank announced last summer that it had selected over 500 stories for closure “over time.” The COVID-19 pandemic hit men’s apparel retailers hard as buyers shifted to remote work and had less demand for formalwear. Nonetheless, the firm is steadily recuperating after declaring bankruptcy in August and exiting the last stages of the Chapter 11 proceedings in November.
Men’s Wearhouse
Chico’s
Chico’s is sticking to its publicly declared aim to eliminate 250 sites over the next three years, which began in 2019. The women’s apparel store is striving to shift its focus to online sales and operations, among many others.
Chico’s
Abercrombie & Fitch
Abercrombie & Fitch will close its four most important flagship stores at the end of January 2021. The restrictions would take effect primarily in London, Paris, Munich, and Dusseldorf, Germany, and were planned before the COVID-19 pandemic. In addition, three additional important stores will close this year when their leases expire in Brussels, Madrid, and Fukuoka, Japan.
Abercrombie & Fitch
Nine West
Nine West intends to reorganize its indebtedness by selling off portions of the company and filing for Chapter 11 bankruptcy. All of this occurred as a result of the company’s $1.5 billion debt. As a result, the shoe retailer chose to discontinue its Easy Spirit brand and close all 25 stores. The company also intends to focus more on jewelry and clothing 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 close this year. The corporation intends to close over 2,500 stores and hold clearance sales to get rid of its merchandise and sell its stores. Some establishments will remain open until May, while others will close by the end of March.
Payless
Gymboree
Gymboree Group Inc, a children’s clothing retailer, declared bankruptcy in mid-January. They also announced the closure of about 800 Gymboree and Crazy 8 stores across the United States and Canada. Furthermore, it has halted online transactions and begun liquidation sales in its locations. Gymboree has declared bankruptcy twice in the last two years. In 2017, the corporation shut down multiple locations.
Gymboree
Charlotte Russe
Charlotte Russe confirmed the chain’s closure in March 2019. Yes, it spans more than 500 stores around the country. The business has already announced the closing of 94 outlets. The others had to close by April 30, 2019. The company has already ceased online transactions. However, things can still be purchased through liquidation sales in certain areas.
Charlotte Russe
Starbucks
Starbucks said in the summer that it would permanently close 150 underperforming locations. This is three times the amount it routinely closes at the end of a fiscal year. On the other hand, the corporation stated that the closures would affect major cities with oversaturated marketplaces. In certain areas, the coffee chain branches are just competing with one another.
Starbucks
Christopher & Banks
Christopher & Banks said in late 2018 that it intended to close 30 to 40 locations by 2020. This, however, does not imply that the company’s revenues are declining. On the contrary, the company’s e-commerce operation has grown. Furthermore, it is predicted to rise even further this year!
Christopher & Banks
e.l.f Cosmetics
e.l.f cosmetics, like the other companies on the list, intends to close physical shops and concentrate only on e-commerce. By the end of March 2019, twenty-two of its shops would have closed. However, customers of this brand need not be concerned since their goods can still be purchased via the official website and at drugstores throughout the country.
elf
Destination Maternity
Destination Maternity Corp. intends to focus less on its retail presence to reinvigorate the firm and increase e-commerce sales. The retail closures will affect 42 to 67 stores throughout the course of the year. They did this to lower shop expenses and grew their internet presence. According to USA Today, the corporation also intends to create smaller stores “with decreased square footage to achieve improved efficiency.”
Destination Maternity
Foot Locker
Foot Locker Inc. announced the closure of 167 shops in March 2019. It intended to invest more and pour millions of dollars into the remaining locations. This action was undertaken to increase profit margins. The retailer’s shareholders were astonished by the retailer’s performance in the fourth quarter of 2018.
Foot Locker
J. Crew
J. Crew seems to be everywhere these days. After losing its CEO in 2018, the company began 2020 by closing six shops in January. These retail closures are part of the company’s broader intention to close 30 outlets. They made the proposal public last summer. However, we have yet to learn which locations they want to close to meet their objectives.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is experiencing identical problems to GNC. To combat these issues, they are focusing on e-commerce and developing a subscription service. In 2017, top-line revenues totaled $1.2 billion, representing an 8.5 percent decrease. The situation can be attributed to the declining popularity of shopping malls and the advent of competitors. We hope that their category extensions, delivery services, and marketing events will bring them out of this rut soon!
The Vitamin Shoppe Store
Bebe
When Neda Mashouf, the creative director and wife of founder Manny Mashouf, departed the company, Bebe’s sales began to fall. The brand was created in 1979. With the demise of retail malls, the corporation had to deal with a slew of issues. Bebe reported a $4.6 million operational deficit in 2018. Furthermore, it paid $65 million to close retail outlets and focus on e-commerce.
Bebe
David’s Bridal
It appears that extravagant gowns and pricey wedding ceremonies are no longer the norms these days. Instead, many brides are opting for less expensive weddings and more casual outfits. Unfortunately, this is bad news for bridal gown sellers like David’s Bridal. This brand is experiencing a dramatic fall in sales. On top of that, they have a $520 million loan and $270 million in unsecured notes due in 2020.
David’s Bridal
Bon-Ton
Bon-Ton, the online retailer and department store, has been operating for a century, but it is time to say goodbye. In the previous year, the store declared bankruptcy and subsequently liquidated its shops. However, in 2018, it reopened for e-commerce and reopened a few shops. They had a lot of success at first since they operated in tiny communities with little competition. Of course, Amazon altered that.
Bon-Ton
Claire’s
Claire’s is an accessories shop that first opened its doors in 1961. For a long period, it was the favorite shop of many young American ladies. However, the firm halted its IPO and filed for Chapter 11 bankruptcy protection in 2018. It closed more than 130 shops throughout the nation in May of that year.
Claire’s
Southeastern Grocers
Supermarkets are also struggling with sales. For example, Southern Grocers, which operates shops like Winn-Dixie, Bi-Lo, and Harveys, stated that 22 locations would close by March 25, 2019. This decision was made less than a year after it emerged from Chapter 11 bankruptcy. During that period, the business was forced to shut 94 shops. Among the three brands it controls, Bi-Lo is likely to suffer the most, with 13 stores closing.
Southeastern Grocers
Shopko
Shopko initially revealed plans to close 70% of its shops by May 2019. They subsequently altered their minds and planned to shut all of the shops permanently. Shopko filed into bankruptcy in January 2019, hoping that a buyer would bail it out. Unfortunately, it was unable to find a buyer and attempted to sell all of its inventory. As a consequence, it will shut all of its sites by June 2019.
Shopko
Performance Bicycle
If you like riding, we have some terrible news for you. The country’s largest bike store has ceased operations. On March 2, the last of its 104 sites closed. Last autumn, Advanced Sports Enterprises filed for bankruptcy. Initially, it planned to preserve at least half of its sites by attempting to renegotiate leases. Unfortunately, it had no option but to collapse and shut the business.
Performance Bicycle
Lowe’s
Lowe’s is a well-known home and garden supply store. The firm has previously closed 51 shops, all of which were underperforming. The closures took place in 2019. It closed 20 shops in the United States and 31 in Canada. The business revealed these intentions towards the end of 2018 to have all stores closed by February 1, 2020. When longstanding CEO Robert Niblock resigned and was replaced by former J.C. Penney CEO Marvin R. Ellison, the decision to close shops was made.
Lowe’s
Vera Bradley
Vera Bradley is reconsidering its business practices, concentrating on licensing rather than physical stores. Instead, the company considers selling home goods via Bed Bath & Beyond and Macy’s. It also intends to close up to 50 of its 110 shops by 2021. Many of the leases are set to expire at that time. However, there are still 52 Vera Bradley manufacturing outlets open for business, making it feasible to visit a real shop.
Vera Bradley
Henri Bendel
Henri Bendel closed all of its 24 shops throughout the country in early 2020. The parent company, L Brands, then announced in the autumn of 2018 that the whole brand, including its website and iconic Fifth Avenue store, will be shut down. Instead, the business concentrated its efforts on other brands with more promise, such as Victoria’s Secret and Bath & Body Works.
Henri Bendel
Family Dollar
Dollar Tree is a bargain retailer that announced plans to close about 390 Family Dollar stores in 2020. It would imply that the customers would have to get their personal care goods and other necessities elsewhere. This business also chose to rebrand about 200 of its branches. It intends to make other adjustments as well. They will soon attempt to raise the cost of their goods in a few shops.
Family Dollar
J.C. Penney
J.C. Penney has been a mall fixture for many years, but its sales have been declining in recent months. Furthermore, it had a dry spell throughout the Christmas season and witnessed a drop in stock value. As a result of these factors, the firm announced the closure of 18 department shops in 2020. Not only that, but it also intends to close nine furniture shops. This implies that a total of 27 sites will be closed.
J.C. Penney
Z Gallerie
Z Gallerie is a high-end home furnishings business. It is now on the list of shops that have declared bankruptcy. According to reports, the business is looking for a buyer who can rescue its shops throughout the nation.
Z Gallerie
Beauty Brands
Beauty Brands informed the public that it would be closing 25 shops in 2018. The business declared bankruptcy in January of that year and decreased its corporate personnel. According to its bankruptcy filing, the business was experiencing higher operational costs due to its status as a “predominantly brick and store shop.”
Beauty Brands