Macy’s
Macy’s recently made an announcement regarding the future of the company for the upcoming years. They released the news that starting January of 2021, they will close down 45 shops permanently. CNBC reported that this is just the start of their overall plan to close 125 shops by the end of 2023. Most of these shops are located at malls, which means their physical presence in top-tier malls will be limited.
Macy’s
Bed Bath & Beyond
According to USA Today, Bed Bath & Beyond will close 43 shops by the end of February 2021. Last year, they have already announced to shut 200 shops and their goal is to lose another 200 this year. Shops from over 19 states will close, nine of which are from California.
Bed Bath & Beyond
Express
100 of its shops will be closed by 2022. Express announced this last year. They already started with 31 shops in 20 states in January 2020. By the end of January 2021, another 35 shops are set to close. The following year, they are planning to close another 25.
Express
Office Depot
The company announced that there will be major changes in their organization this spring. Because of this, Office Depot will close an unknown number of stores, which will probably lay off approximately 13,000 workers by the end of 2023. According to our trusted source, this initiative is part of an ongoing effort to save expenses because they will transform from a traditional retail store to an IT service provider.
Office Depot
Walgreens
At this moment, Walgreens is shutting down its 200 stores nationwide. They announced the closure in 2019. But you don’t have to worry about not having to shop at Walgreens. They are only shutting down less than 3% of their total store count. Their drugstores all over the world are a total of 9,600.
Walgreens
The Children’s Place
This year, The Children’s Place will close numerous sites throughout the world. The children’s apparel business said last year that it would close 200 stores in 2020 and another 100 by the end of 2021. According to “Today,” the business has not specified which stores would close, although it primarily targets “mall-based” locations.
The Children’s Place
J.C. Penney
After declaring bankruptcy and shutting more than 150 stores last year, J.C. Penney will shut more stores this spring. The department store chain said in December that it intends to close an additional 15 stores by the end of March 2021. In a statement to USA Today, J.C. Penney said, “We also elected to close an additional 15 stores as part of our shop optimization approach, which began in June with our financial reorganization.” “These stores will start liquidation sales later this month and close to the public in mid to late March.”
J.C. Penney
Francesca’s
Francesca announced in November 2020 that it would close around 140 stores by the end of January 2021. In December, the women’s boutique business filed for Chapter 11 bankruptcy, intending to sell the firm as a whole, including its physical locations. According to USA Today, the business now runs 558 stores but “plans to renegotiate a variety of leases via this process, which may result in the closure of additional boutiques,” according to a statement sent to the publication.
Francesca’s
Signet Jewelers
Signet Jewelers, which operates globally under the labels Kay Jewelers, Zales, Jared The Galleria Of Jewelry, and Piercing Pagoda, is also shutting more stores this year. In 2020, the diamond jewelry firm stated that it will not reopen at least 150 North American outlets that had been temporarily closed due to the COVID-19 outbreak in March. Another 150 stores are set to go by the end of February 2021.
Signet Jewelers
Pet Valu
Pet Valu has also joined the list of companies that have gone out of business as a result of the coronavirus outbreak. The pet supply firm announced in November 2020 that it would close all 358 stores and warehouses across the United States. As a result, shoppers will no longer be able to make purchases on the company’s website, although closing sales have already begun in nations across the world.
Pet Valu
Justice
Following the permanent closure of nearly 600 stores last year, Justice will most certainly close its remaining locations this year. Ascena Retail Group Inc., the parent company, announced plans to terminate the tween girl division in November, with the 108 remaining locations closing by early 2021.
Justice
GameStop
GameStop, which has closed hundreds of locations in the previous two years, intends to eliminate a large number more in 2021. The video game retailer announced intentions to shut over 1,000 locations by March 31, the conclusion of its fiscal year. The closures come after almost a decade of financial difficulties for the gambling behemoth, which is attempting to recoup its debts following a $458 million net loss in 2018.
GameStop
Sears
Transformco’s Sears has suffered a substantial decline in sales since entering bankruptcy in 2018 and shutting the bulk of its stores over the previous two years. CNN reports that the ailing firm is in the midst of a “slow-motion liquidation.” Over the next year, it plans to close stores when possible and sell properties through commercial real estate brokers.
Sears
The Disney Store
Disney stated on March 3 that about 60 of its North American Disney Stores would close by the end of 2021. According to the organization, E-commerce, social networking, and theme park retail activities will be prioritized. As of 2016, the firm had 330 sites worldwide, including 200 of them in North America.
The Disney Store
Kmart
Kmart, which is owned by the same parent company as Sears, Transformco, is also shutting. The company’s overall shop count has been reduced to 48, with further closures likely next year as the commercial real estate market recovers.
Kmart
H&M
H&M plans to close another 250 stores in 2021, following the closure of 180 stores in 2020. The retailer’s decision was driven mostly by the coronavirus outbreak and the rising trend of internet sales. According to H&M CEO Helena Helmersson, “more and more customers started shopping online during the pandemic, and they are making it plain that they value a secure and empowered environment in which shops and online connect and support each other.”
H&M
Victoria’s Secret
Victoria’s Secret is expected to close additional stores in the next two years, following the closure of 250 stores in the United States and Canada last year. On an earnings call with investors in May 2020, Victoria’s Secret CEO Stuart Burgdoerfer will formally address the planned closings. “We will expect a large number of further store closures outside of the 250 that we’re planning this year,” he told USA Today, indicating that there would be more in 2021 and maybe a little more in 2022.
Victoria’s Secret
Gap
Gap wants to significantly reduce its physical presence during the next two years. In October 2020, Gap Inc. stated that it would close 220 Gap stores across North America by the end of 2023. The store closures are part of the retailer’s plan to focus on city centers and shops rather than malls.
Gap
Banana Republic
Gap Inc. also owns Banana Republic, which will close several stores. By 2023, the firm plans to close 130 Banana Republic locations. Furthermore, between Banana Republic and Gap, the firm would close 350 stores, accounting for about one-third of its North American locations.
Banana Republic
Carter’s
Carter’s is now permanently closing hundreds of shops, with contracts for those locations scheduled to expire in the coming months. The children’s clothing and accessories company revealed intentions to shut over 200 stores in October 2020, with around 60% of those locations expected to retire by the end of 2021. The present locations will close by the end of 2022.
Carter’s
American Eagle
Following the revelation of plans to close 40 to 50 stores by 2020, they may open additional American Eagle locations this year. Last October, executives warned that the business may shut up to 500 sites over the next two years as leases expire. According to Chief Financial Officer Mike Mathias, while deciding which locations should close permanently, the business considers “lease duration, mall profile, accessibility to other retailers, and customer experience level.”
American Eagle
Zara
Zara is shifting its attention away from brick-and-mortar stores and toward online shopping in the aftermath of the coronavirus pandemic. Inditex, the parent company of the apparel brand, said this summer that it would close up to 1,200 stores worldwide over the next three years, beginning in 2020. The business also intends to invest $3 billion in improving its digital operations, such as hiring more online customer care representatives.
Zara
Men’s Wearhouse
Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Bank, stated last summer that it had selected almost 500 stories for closure “over time.” The COVID-19 pandemic wreaked havoc on men’s clothing shops as consumers migrated to distant jobs with lower demand for formalwear. Nonetheless, the firm is gradually regaining its footing after declaring bankruptcy in August and entering the final phases of Chapter 11 proceedings in November.
Men’s Wearhouse
Chico’s
Chico’s is sticking to its previously stated strategy of closing 250 locations over the next three years, beginning in 2019. Among other things, the women’s apparel store is attempting to change its focus to online sales and operations.
Chico’s
Abercrombie & Fitch
The four most prominent flagship shops of Abercrombie & Fitch will close at the end of January 2021. The limitations were scheduled to be enforced largely in London, Paris, Munich, and Dusseldorf, Germany, before the COVID-19 pandemic. Furthermore, three significant stores in Brussels, Madrid, and Fukuoka, Japan, will close this year when their leases expire.
Abercrombie & Fitch
Nine West
Nine West wants to restructure its debts by selling off parts of the company and applying for Chapter 11 bankruptcy protection. Everything happened as a result of the company’s $1.5 billion in debt. As a result, the shoe retailer decided to terminate its Easy Spirit brand and close all but 25 of its stores. In addition, the business plans to focus its efforts on jewelry and apparel brands such as Anne Klein, One Jeanswear Group, and Kasper Grouper.
Screenshot 12
Payless
Payless ShoeSource has the most store closures this year among all firms planning to close. The company aims to close over 2,500 locations and perform clearance sales to remove its goods and sell its stores. Some stores will remain open until the end of May, while others will close by the end of March.
Payless
Gymboree
Gymboree Group Inc, a children’s apparel company, filed for bankruptcy in mid-January. In addition, they announced the closing of around 800 Gymboree and Crazy 8 stores in the United States and Canada. It has also suspended online transactions and launched liquidation sales in stores. Gymboree has declared bankruptcy for the second time in two years. Several stores were closed down by the company only a year ago.
Gymboree
Charlotte Russe
Charlotte Russe announced the company’s demise in March 2019. Yes, it covers over 500 stores across the country. The company previously announced the closure of 94 stores. The others were set to close on April 30, 2019. Although online transactions have already ended, products may still be acquired at liquidation sales in specific places.
Charlotte Russe
Starbucks
Starbucks said in the summer that it will shut 150 underperforming stores permanently. This is three times the amount it normally closes with after a fiscal year. However, the company stated that the closures will have an impact on big cities with oversaturated markets. In such cases, 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 stores by 2020. This, however, does not mean that the company’s sales are falling. In contrast, the company’s e-commerce activity has grown. Furthermore, it is expected to grow much more this year!
Christopher & Banks
e.l.f Cosmetics
Like the other firms on the list, e.l.f cosmetics wants to close physical stores and focus only on e-commerce. Twenty-two of its stores would shut before the end of March 2019. Customers of this brand, however, need not be afraid because their products can still be purchased on the official website and at drugstores around the country.
elf
Destination Maternity
Destination Maternity Corp. plans to decrease its retail presence to revitalize the company and enhance e-commerce sales. The store closings would affect 42 to 67 sites throughout the course of the year. They did this to save retail expenditures while also increasing their online presence. The company reportedly plans to develop smaller campuses “with less square area to encourage more efficiency,” according to USA Today.
Destination Maternity
Foot Locker
Foot Locker Inc. announced in March 2019 that it would be closing 167 stores. It is expected to invest more significantly in the remaining locations, pumping millions of dollars into them. This move was made to boost profit margins. The retailer’s success in the fourth quarter of 2018 astounded its investors.
Foot Locker
J. Crew
J. Crew seemed to be in the news all of the time these days. Following the death of its CEO in 2018, the company kicked off 2020 by closing six sites in January. These closures are part of the company’s larger plan to close 30 sites. They made the proposal public last summer. However, we have yet to hear which sites they want to shut to achieve their goals.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is having identical issues to GNC. To address these concerns, they are focusing on e-commerce and the development of a subscription service. In 2017, top-line sales were $1.2 billion, an 8.5 percent decrease from the previous year. The issue can be ascribed to the fall in popularity of shopping malls as well as the development of competitors. We hope that their category extensions, delivery services, and marketing events will assist them in breaking out of their rut as soon as possible!
The Vitamin Shoppe Store
Bebe
Bebe’s sales began to fall after Neda Mashouf, the creative director and wife of founder Manny Mashouf, left the company. The company was established in 1979. The firm encountered several problems as a result of the decline of retail malls. In 2018, Bebe had a $4.6 million operating loss. It also invested $65 million to shut retail sites and focus on e-commerce.
Bebe
David’s Bridal
Fancy gowns and expensive wedding traditions appear to be a thing of the past. Instead, many brides are opting for lower-cost weddings and more casual dresses. This is bad news for wedding gown stores like David’s Bridal. The sales of this brand are quickly dropping. They also have a $520 million loan and $270 million in unsecured notes that are due in 2020.
David’s Bridal
Bon-Ton
The online retailer and department store Bon-Ton has been in business for a century, but it is time to say goodbye. The store filed for bankruptcy the prior year and liquidated its stores. However, it reopened for e-commerce and reopened a few stores in 2018. They had a lot of success initially since they worked in small towns with little competition. Amazon, of course, changed that.
Bon-Ton
Claire’s
Claire’s is a clothing and accessory store that originally opened its doors in 1961. It was a favorite shop of many young American girls for a long time. However, in 2018, the company delayed its IPO and filed for Chapter 11 bankruptcy protection. In May of that year, it shut more than 130 stores across the country.
Claire’s
Southeastern Grocers
Supermarkets are also experiencing sales difficulties. Southern Grocers, for example, which operates stores such as Winn-Dixie, Bi-Lo, and Harveys, has announced that 22 sites would close by March 25, 2019. This decision was taken less than a year after the company exited from Chapter 11 bankruptcy protection. During that time, the company was forced to close 94 stores. Bi-Lo, the company’s third brand, is expected to suffer the most, with 13 locations shutting.
Southeastern Grocers
Shopko
Shopko previously announced plans to shut 70% of its stores by May 2019. They later changed their minds and decided to permanently close all of the stores. Shopko declared bankruptcy in January 2019, seeking a buyer to bail it out. It was unable to locate a buyer and sought to liquidate all of its inventory. As a result, it will close all of its locations by June 2019.
Shopko
Performance Bicycle
If you enjoy cycling, we have some bad news for you. The largest bike retailer in the country has closed its doors. The last of its 104 locations shut on March 2. Advanced Sports Enterprises declared bankruptcy last October. It had intended to keep at least half of its locations by seeking to renegotiate leases. Unfortunately, it had no choice but to fail and close the firm.
Performance Bicycle
Lowe’s
Lowe’s is a well-known home improvement and gardening supplies business. Previously, the company shut 51 stores, all of which were underperforming. The closures occurred in 2019. It shut 20 stores in the US and 31 in Canada. The company announced these plans at the end of 2018, intending to close all shops by February 1, 2020. The decision to shut shops was taken after longtime CEO Robert Niblock left and was replaced by former J.C. Penney CEO Marvin R. Ellison.
Lowe’s
Vera Bradley
Vera Bradley is rethinking its business model, focusing on licensing rather than physical shops. Instead, the firm is thinking about selling home products via stores like Bed Bath & Beyond and Macy’s. In addition, it plans to shut up to 50 of its 110 stores by 2021. Many of the leases will be up for renewal at that time. However, there are still 52 Vera Bradley production locations open for business, visiting a genuine store possible.
Vera Bradley
Henri Bendel
In early 2020, Henri Bendel shut all of its 24 stores throughout the nation. L Brands, the parent company, then announced in the fall of 2018 that the whole brand, including its website and famous Fifth Avenue shop, will be closed. Instead, the company focused its efforts on more promising brands, such as Victoria’s Secret and Bath & Body Works.
Henri Bendel
Family Dollar
Dollar Tree is a discount retailer that has revealed intentions to shut about 390 Family Dollar locations by 2020. Customers would have to travel elsewhere to obtain their personal care products and other needs. This company also decided to rename about 200 of its branches. It also plans to make additional changes. They will shortly try to increase the prices of their products in a few stores.
Family Dollar
J.C. Penney
J.C. Penney has been a mall staple for many years, but its revenues have recently been decreasing. Furthermore, it had a dry spell throughout the Christmas season, resulting in a decrease in stock value. Because of these factors, the company announced the closure of 18 department stores in 2020. In addition, it plans to shut nine furniture stores. This means that a total of 27 locations will be shut.
J.C. Penney
Z Gallerie
Z Gallerie is a luxury home furnishings company. It has now been added to the list of businesses that have filed for bankruptcy. According to rumors, the company is seeking a buyer who can save its stores throughout the country.
Z Gallerie
Beauty Brands
Beauty Brands said that it will be shutting 25 stores in 2018. In January of that year, the company filed for bankruptcy and reduced its corporate staff. According to its bankruptcy petition, the company was facing increased operating expenses as a result of its “predominantly brick and mortar store.”
Beauty Brands