The Apocalypse in the retail trade: in 2020 in the U.S. closed more than 3 600 stores

Retailers are expected to close more than 3,600 stores in 2020, after the record closed in 2019. According to the publication Business Insider, in 2019, the US has announced the closure of more than 9 300 stores, which exceeded the previous record closing approximately 8,000 stores in 2017.

Апокалипсис в розничной торговле: в 2020 году в США закроется более 3 600 магазинов

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According to estimates of real estate Agency Cushman & Wakefield, the number of closures of stores this year may be even higher than in previous reports. According to estimates of the Agency in 2020 could be closed to 12 000 large chain stores.

The pandemic currently threatens the closure of even more stores, as retailers are faced with the sharp drop in sales. According to an analysis by Business Insider, to date, the retail company confirmed the closure of at least 3,600 stores.

Here is a list of stores that should be closed in 2020.

Pier 1 Imports: 450 stores

In January, the retailer Pier 1 Imports said that it plans to close 450 stores, which is about half the total number of stores. The company is struggling to stay afloat after several years of falling sales.

The closure could affect thousands of workers. At the time of publication of the announcement, Pier 1 Imports was nearly 950 stores and about 4,000 employees.

The company also said it plans to reduce the number of employees and close some distribution centers.

GameStop: of 320 stores

In March, GameStop has announced that it has closed 333 store in the 2019 financial year and opened 12 new stores.

In 2020, the company said it expects the closing of 320 stores or even more.

Papyrus: 254 store

In January, the network Papyrus declared bankruptcy and plans to close 254 store in USA and Canada.

Victoria’s Secret: 238 shops

The parent company of Victoria’s Secret, L Brands, said in may that it plans to close the store 251 in the United States and Canada in 2020. Most closings — 238 — in the United States.

Gap: 230 shops

Gap closes hundreds of stores under the brand name Gap, opening stores under other brands, including Old Navy and Athleta. In February 2019, the company said that it plans to close about 230 shops Gap over the next two years.

Tuesday Morning: 230 shops

The retailer declared bankruptcy in may and said it plans to close 230 of the approximately 700 stores.

Walgreens: 200 stores

Network Walgreens announced that it plans to close 200 U.S. offices in the multi-year programme of spending cuts. The company did not disclose any details about the timing or location closure.

Chico’s: 200 stores

The women’s clothing retailer Chico’s in 2019, said it plans to close about 250 stores, including 100 stores Chico, 90 shops Black House and Soma 60 stores within three years. The company closed 49 stores as of November 2, 2019, leaving about 200 of the anticipated closings over the next two years.

Destination Maternity: shop 183

Company Destination Maternity has applied for protection from bankruptcy in October of 2019 and stated that it plans to close 183 shops in the United States, Canada and Puerto Rico. The company owns stores under its eponymous brand as well as under the brand Motherhood Maternity.

Forever 21: 178 shops

Forever 21 said it plans to close 350 stores worldwide, including about 178 in the United States, after filing for protection from bankruptcy in September 2019. Company data show that many of these closures will occur in early 2020.

Modell’s: 153 store

Sports retailer Modell’s filed a suit about protection from bankruptcy in March and said it plans to close all its 153 store.

A. C. Moore: 145 stores

Network of shops of handicraft items A. C. Moore will close all 145 of its stores in 2020. Parent company A. C. Moore, Nicole Crafts, announced the closure and reported that about 40 stores will be converted to the Michaels stores.

Macy’s: 125 stores

Macy’s plans to close 125 stores in the next three years and cut thousands of jobs as part of a plan to reduce costs.

Art van Furniture: with 125 stores

Art Van Furniture filed for bankruptcy and said it plans to close all its stores in Michigan, Indiana, Illinois, Ohio and Missouri, and eight stores Wolf Furniture in Maryland and Virginia.

In its bankruptcy petition, the company stated that it operates 169 stores and plans the sale of 44 of these places. The remaining stores will be closed.

Bose: 119 shops

Retailer of audio equipment Bose said that it plans to close 119 stores around the world, including all its stores in the United States.

Olympia Sports: 76 stores

Olympia Sports announced that it plans to close 76 stores after it was purchased by sports retailer JackRabbit. The stores will be closed in 2020.

Sears: 51 shop

Retailer Sears said it plans to close 96 stores in February, including 51 shop Sears and Kmart stores 45.

Earth Fare: 50 stores

In February, the chain of stores Earth Fare said it will close all of its stores.

“Earth Fare is proud to serve the market of natural and organic foods, and the decision to start the process of closing our stores was not taken easily, — it is told in the company message. We would like to thank our team members for their commitment and dedication to serving our customers and our suppliers for their partnership.”

The company said it took the decision to start the liquidation of its stores due to “persistent problems in the retail trade, which hampered the company’s progress and its ability to refinance their debts.”

Bath & Body Works: 50 stores

The parent company of Bath&Body Works L Brands announced that it plans to close 50 stores in the United States in 2020.

Kmart: 45 stores

The parent company of Kmart Transform Holdco plans to close 45 stores Kmart.

Bed, Bath&Beyond: shop 44

Bed, Bath&Beyond plans to close 44 stores by 2020.

The company said that it plans to close 40 stores in the 2019 fiscal year, which started in April, and another 20 shops in the 2020 financial year. By January, the company has made about 16 of these planned closures.

Bed, Bath&Beyond operates several stores including World Market, BABY BABY, Christmas Tree Shops and One Kings Lane.

See the list of closing stores here.

Lucky’s Market: 32 store

Regional chain of grocery stores, Lucky’s Market closes most of its stores and firing thousands of employees.

According to a report by the Sun Sentinel, February 12 Lucky closed 32 stores and fired about 2,500 employees.

Express: shop 31

In January, the Express stated that by 2022 it plans to close 100 stores, or around a quarter of the total number of stores.

This number includes nine stores that were closed last year, and 21, which were closed by the end of January.

Neiman Marcus: 20 stores

In March, Neiman Marcus announced that it plans to close most of the 22 stores Last Call.

“Shopping Select” Last Call ” will remain open to serve as a channel of sale of residual stocks of Neiman Marcus,” said the company.

Nordstrom: 19 stores

Retailer Nordstrom said it plans to close 16 full Department stores in Arizona, California, Colorado, Florida, new Jersey, Maryland, Oregon, Virginia, Texas and Puerto Rico.

Closure make up about 14% of all Nordstrom stores. Later, the company said it will also close three boutique Jeffrey.

Hallmark: 16 stores

According to local media reports and publications in the Facebook store owners, at least 16 stores under the brand name Hallmark in the US closed in 2020.

Rich Schauer, who closes his shop at Hallmark in forest Park (Il) said that social networks inhibit business cards.

“This is no longer a viable business, he said. — People bought and sent postcards. Now all online. All celebrate their birthdays on social networks.”

JCPenney: 6 shops

In January, JCPenney said it will close six stores by April 24. The closures will affect stores in Montana, North Carolina, new York, Ohio, Oklahoma and South Carolina.

Walmart: 3 store

Walmart plans to close one store in Michigan and two in North Carolina. Closed stores include the supercenter in Ypsilanti (mi), as well as shops in Wadesboro and Lumberton (North Carolina).

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