Macy’s
Macy’s is the latest retailer to announce a round of cost-cutting measures in the near future. In January, the company stated that 45 sites would close permanently in 2021. According to CNBC, the closures are part of a larger strategy by Macy’s to eliminate 125 stores by 2023, limiting the company’s footprint to high-end retail.
Macy’s
Bed Bath & Beyond
After closing 200 stores this year, Bed Bath & Beyond plans to eliminate another 200 stores in 2021. According to USA Today, by the end of February, another 43 stores would be permanently closed. In total, 19 states will be affected by the closure, with California accounting for nine of them.
Bed Bath & Beyond
Express
Last year, Express announced that it would close 100 locations by 2022, starting with 31 in 20 states in January 2020. 35 more stores will close between January 1st and December 31st, 2021, with 25 more set to open the following year.
Express
Office Depot
Office Depot’s reorganization plan, which was first announced last spring, will be extended until 2021. The office supply company plans to close an undetermined number of locations and lay off around 13,000 people by 2023. The plans are part of the company’s ongoing cost-cutting measures as it converts from a traditional store to an IT services provider, according to sources.
Office Depot
Walgreens
Since announcing the layoffs in 2019, Walgreens has closed around 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 now stands at roughly 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 shops 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 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
In November 2020, Francesca announced that it would close roughly 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 issued to USA Today, the company now has 558 locations, but “plans to renegotiate a number of leases throughout this period, which may include closing new boutiques.”
Francesca’s
Signet Jewelers
Signet Jewelers, which operates in cities across 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 said that it will not reopen at least 150 North American stores that were closed in March because of the COVID-19 outbreak. By the end of February 2021, another 150 outlets will be closed.
Signet Jewelers
Pet Valu
Pet Valu has joined the list of businesses that have closed as a result of the coronavirus outbreak. In November 2020, the pet supplies firm announced that it would close all 358 of its stores and warehouses across the United States. People will no longer be allowed to make purchases on the company’s website, despite the fact that closing sales have already begun in nations throughout the world.
Pet Valu
Justice
After permanently closing roughly 600 sites last year, Justice is set to close the final outlets this year. The parent company of the tween girl brand, Ascena Retail Group Inc., revealed plans to close the company in November, with the last 108 stores closing by early 2021.
Justice
GameStop
In 2021, GameStop plans to close even more locations 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 currently seeking to repay its debts following a $458 million net loss in 2018.
GameStop
Sears
Sears, which Transformco controls, has seen a sharp drop in sales after declaring bankruptcy in 2018 and liquidating the majority of its stores during the previous two years. According to CNN, the struggling chain is in the midst of a “slow-motion liquidation,” with plans to liquidate outlets as soon as possible next year and advertise several properties with commercial real estate agents.
Sears
The Disney Store
On March 3, Disney announced that around 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 enterprises will be prioritized. As of 2016, the company had 330 locations worldwide, with 200 in North America.
The Disney Store
Kmart
Kmart, which was purchased by Transformco, the same company that controls Sears, is also closing. The company’s number of locations has shrunk to only 48, with further 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 collapse of 180 outlets in 2020. The retailer’s decision was influenced by the coronavirus outbreak as well as the growing trend of online shopping. “After the epidemic, more and more 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 liquidate more outlets in the next two years. Victoria’s Secret CEO Stuart Burgdoerfer confirmed the projected closures during a May 2020 earnings call with investors. “We would expect a large number of slow store closures outside of the 250 we’re aiming for this year,” he said, “suggesting that there would be more in 2021 and probably a little more in 2022.”
Victoria’s Secret
Gap
Gap intends to dramatically reduce its physical presence during 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
Several Banana Republic stores, which are also owned by Gap Inc., will close. The company intends to close 130 Banana Republic stores by 2023. Between the Banana Republic and Gap, the chain will close 350 stores or approximately a third of its North American locations.
Banana Republic
Carter’s
Carter’s has decided to permanently close hundreds of sites due to lease expirations in the coming months. In October 2020, the children’s clothes and accessories industry announced plans to close over 200 outlets, with around 60% of those retailers closing by the end of 2021. The present stores will close by 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, firm executives said that as 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 firm considers “lease tenure, mall profile, accessibility to other merchants, and customer experience level” when determining which stores to close permanently.
American Eagle
Zara
In the aftermath of the coronavirus outbreak, Zara is changing its attention away from brick-and-mortar stores and toward online shopping. Inditex, the holding company of the apparel industry, 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 enhancing its digital operations, which will involve adding 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 over 500 stories will be closed “over time.” The COVID-19 pandemic wreaked havoc on the men’s clothing industry, as customers shifted to new jobs that required less formal attire. Since filing for bankruptcy in August and completing the last steps of the Chapter 11 process 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 sincere effort to close 250 sites over the next three years and appears to be on schedule to reach that goal. One of the women’s fashion stores has increased its e-commerce activity and sales in order to provide more channels.
Chico’s
Abercrombie & Fitch
Abercrombie & Fitch’s four most notable flagship sites will close by the end of January 2021. Closures will take place mostly in London, Paris, Munich, and Dusseldorf, Germany, and were planned before the COVID-19 outbreak. Three additional significant stores in Brussels, Madrid, and Fukuoka, Japan, will close this year when their leases expire.
Abercrombie & Fitch
Nine West
Nine West is trying to reorganize 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 will close, and the Easy Spirit brand would be phased away. Anne Klein, One Jeanswear Group, and Kasper Grouper are among the jewelry and apparel firms that the corporation wishes to focus on.
Screenshot 12
Payless
Payless ShoeSource is the firm with the most shop closures planned for this year. To get rid of their inventory and sell their outlets, the company plans to liquidate over 2,500 locations and hold clearance sales. Some establishments will remain open until the end of May, while others will close by March 31.
Payless
Gymboree
Gymboree Group Inc, a children’s apparel store, filed for Chapter 11 bankruptcy protection in mid-January. They have announced the closure of around 800 Gymboree and Crazy 8 sites in the United States and Canada. It has ceased 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 outlets.
Gymboree
Charlotte Russe
Charlotte Russe announced the closure of the entire network in March of this year. Yes, it covers over 500 places across the United States. The company announced the closure of 94 outlets earlier this year. By April 30, 2019, all of the others have shut down. The company has also halted online purchases; however, items can still be purchased at liquidation sales in specific locations.
Charlotte Russe
Starbucks
Starbucks said in the summer that 150 underperforming stores would be closed. This is three times the amount with which it concludes a fiscal year. The closures, according to the firm, would affect metropolitan cities with oversaturated markets. The coffee chain parts compete against one another in various regions.
Starbucks
Christopher & Banks
Christopher & Banks said in late 2018 that 30 to 40 of its stores might 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 predicted to skyrocket!
Christopher & Banks
e.l.f Cosmetics
e.l.f. Cosmetics, like the other companies on the list, plans to close physical sites 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 items are still available on the company’s official website as well as at drugstores around the country.
elf
Destination Maternity
Destination Maternity Corp. aims to focus less on its retail presence in order to revive the business and increase e-commerce revenues. The shop closures this year will affect around 42 to 67 establishments. They did it in order to save money at the store and to increase their online presence. According to USA Today, the company also intends to build smaller stores “with reduced square footage to boost productivity.”
Destination Maternity
Foot Locker
Foot Locker Inc. announced the closure of 167 stores in March 2019. It expected to increase its investment in the other 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 reach their targets.
J. Crew
Vitamin Shoppe
Vitamin Shoppe is having the same problems as GNC. To get around these problems, they’re focused on e-commerce and establishing 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 attractiveness of shopping malls, as well as the appearance of competitors. With their category expansion, distribution services, and marketing efforts, we’re optimistic 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 dwindled away, the corporation faced a number of difficulties. Bebe had a $4.6 million net deficit the previous year. It also spent $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 progressively declining. 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 almost 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 retailers. They were initially quite effective since they worked in small towns with minimal competition. Amazon, of course, tinkering with it.
Bon-Ton
Claire’s
Claire’s started off as an accessory store in 1961. For a long time, it was a favorite store of many young American females. In 2018, the company postponed its first public offering (IPO) and filed for Chapter 11 bankruptcy protection. It closed more than 130 stores around the country in May of that year.
Claire’s
Southeastern Grocers
Grocery retailers are also suffering from a lack of sales. Winn-Dixie, Bi-Lo, and Harveys’ parent company, Southeastern Grocers, has announced the closure of 22 of its stores by March 25, 2019. In less than a year, the company recovered from its Chapter 11 bankruptcy case. 94 stores were forced to close at that time. Bi-Lo will be the most impacted of the three brands it controls, with 13 outlets scheduled to close.
Southeastern Grocers
Shopko
Shopko has previously announced that it is expected to close 70% of its stores by May of this year. They later altered their decision and announced that all of the stores will be permanently closed. Shopko filed for bankruptcy in January 2019, expecting to find a buyer who could help the company get out of this mess. It failed to find a buyer and attempted to sell all of its assets, but was unable to do so. By June 2019, it had closed all of its locations.
Shopko
Performance Bicycle
We have some terrible news for you if you enjoy cycling. The country’s largest bicycle retailer has shuttered its doors. On March 2, the last of its 104 locations 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 initially. Regrettably, the company had no choice but to fold and close.
Performance Bicycle
Lowe’s
Lowe’s is a well-known home and garden shop. The company has now closed 51 underperforming stores. The closures took place in the year 2019. It closed 20 locations in the United States and 31 in Canada. The company revealed its plans in late 2018, with the goal of closing all of its stores by February 1, 2020. When veteran CEO Robert Niblock stepped down and was replaced by former J.C. Penney CEO Marvin R. Ellison, the decision to close locations 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 sites across the country in early 2020. The parent company, L Brands, stated in the fall of 2018 that the whole 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, a discount retailer, has announced that about 390 Family Dollar stores will close in 2020. Customers will have to look for personal care supplies and other necessities elsewhere. This organization’s 200 branches have been renamed. It also aspires to be better in the future. In the near future, they plan to raise the prices of their items 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 fell. As a result of these issues, 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 rumors, the company is looking for a buyer who can help it avoid bankruptcy. Until then, the corporation is closing 17 facilities around the country, which accounts for roughly 20% of its total.
Z Gallerie
Beauty Brands
In 2018, Beauty Brands has announced that 25 of its sites 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 declaration, its operational costs had risen dramatically because it was a “predominantly brick and mortar establishment.”
Beauty Brands