We Now Know Why These Large Retail Companies Are Closing Down Stores

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