In March 2020, in response to the pandemic, the retailer temporarily closed 800 of its stores. Office supply retailer Office Depot said it will close up to 90 stores by 2021 as it focuses its attention on business-to-business services. The retailer filed Chapter 11 bankruptcy in February, declaring the end of 59 years in business in April of this year, closing locations in 37 states. © 2021 USA TODAY, a division of Gannett Satellite Information Network, LLC. Kohl's. Find the best Blind Shops near you on Yelp - see all Blind Shops open now. Over 50% of department stores in malls predicted to close by 2021, real estate services firm says Published Wed, Apr 29 2020 1:14 PM EDT Updated … In April, the company announced it would be closing 68 Kmart and 10 Sears stores. “We have determined that outlet stores, which collectively were not profitable, are not sufficiently differentiated enough from our core offerings and have not resonated with our customers,” CEO Doug Ewert said in a statement. Macy’s had already announced it was closing at least 90 stores due to the changing retail landscape. Will more factories come back to America? With the rise in online shopping, discount shopping becoming the norm and the middle class shrinking, brick-and-mortar retail is doing quite a bit of downsizing. (Jan 24, 2021) For example, Kohl's is one of the few major retailers that downsize not by closing stores, but by shrinking them. So we are committed to growing, but we are being disciplined about it.’, Read more: What Walmart’s purchase of Jet.com means for you, ‘You’re seeing these kind of wild swings in currency,’ said Chief Executive Officer Blake Krueger. No doubt about it, it’s a rough ride in retail right now. Click here for a list of retail stores that have closed. According to New-Press.com, the job cuts and store closings are part of the company’s organizational realignment. The retail apocalypse decade. As a part of the Office Max/Office Depot merger, Office Depot had announced it would close at least 400 stores by the end of 2016, and by the end of this year, it should be at its goal. "These stores will begin liquidation sales later this month and will close to the public in mid to late March.". ‘Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. The first retail stores opened in 1926, growing to more than 500 in five years. But will they return? The discounts range from 25 to 40% off original prices storewide. ‘Most of the world, virtually all of the world, buys its footwear in the U.S. dollars and sells on local currency. Going-out-of-business sales at 136 closing J.C. Penney stores begin Wednesday, the department store chain announced. The brand claims it’s opening more stores overseas, but year-over-year, location numbers have been falling. It’s important to remember that we’ll open well more than 300 stores around the world next year. The company cited mall traffic as one of the problems as comparable same-store sales dropped 10%, according to Reuters. The company has 15 brands and a global workforce of 6,000 employees. “We’ve got stores literally five miles apart,” company CEO Mack Peters said Tuesday. By the end of February 2021, the company will close 43 store locations. As JC Penny undergoes a turnaround plan, the company said it was closing six stores in 2020 that will shut their doors on April 24. Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by COVID-19. Subway hasn’t announced how many stores it will be closing this year, but they’re definitely closing some. If it has seemed like going-out-of-business sales are around every corner, there's a startling reason: Forever 21, Walgreens, Dressbarn, GameStop, Gap and other chains shut down more than 9,300 stores in 2019 — making it the biggest year ever for store closings.. That's according to Coresight Research, which says closures jumped about 60% from the 5,844 the firm tracked in 2018. "As part of our store optimization strategy that began in June with our financial restructuring, we have made the decision to close an additional 15 stores," J.C. Penney said in a statement to USA TODAY. Saturday, following Black Friday, famous for its sales at big retail and department stores. Aaron Montgomery started his company in 1872 as a mail-order business selling to farmers in rural areas near Chicago. The chain has already closed 866 stores, and this year, the company will shut down more than 1,100 locations. Matthews: Windsor Square, 10101 E Independence Blvd. FOX Business’ Grady Trimble reports on the record number of store closures across the U.S. in 2019 and the major brands lost during the past 10 years. Number of store closings: 200 between 2015 and 2017, ‘After a rigorous analysis, the company has identified additional opportunities for cost savings, primarily in its Retail Pharmacy USA division,’ the company said in a press release. Source: Costco CEO shares tips with Clark Howard to help you save money by Clark on Rumble. Get free money tips delivered to your inbox daily! Liquidation sales have been handled differently during COVID-19 with fewer shoppers allowed into stores based on state and local regulations. Unable to recover from an ill-advised merger two years ago, parent company Tailored Brands Inc. is downsizing. TV deals: The best TV bargains available now! Number of store closings: 120 stores between fiscal 2015 and 2017. Explore other popular Home Services near you from over 7 million businesses with over 142 million reviews and … 12. The stores will shutter in March 2021. The following stores are slated to close in mid to late March and will begin liquidation sales later in December. :Walmart to begin selling on the video platform with livestream event Friday. However, according to the Dallas Morning News, arts and crafts retailer Michael’s recently purchased Hancock Fabrics’ brand name and intellectual property earlier this month. JCPenney will close 15 additional stores in spring after closing 150-plus stores since filing for bankruptcy. It said these going-out-of-business sales are set to begin on or around July 3. J.C. Penney filed for Chapter 11 in mid-May after years of sales declines and two months of disruption from the pandemic. "While store closure decisions are never easy, our store optimization strategy is intended to better position JCPenney to drive sustainable, profitable growth and included plans to close up to 200 stores in phases throughout 2020," the company said in its statement to USA TODAY. Keep reading to see which locations are affected. And just this week, Business Insider reported that Sears Holdings would close an additional 64 Kmart stores by December. Explore other popular stores near you from over 7 million businesses with over 142 million reviews and opinions from Yelpers. Find stores that are going out of business by checking with your local government for listings of bankruptcy records of businesses closing. Recently, Macy’s said in a press release that it plans to close 100 stores and concentrate on better performing locations. Loves Furniture will close 13 of its locations, including 10 in Michigan, under a consolidation plan. Manufacturers pine for home as COVID disruptions, Trump tariffs shake up supplies, We'll tell you how and send money tips, advice delivered right to your inbox. The recent news that parent retailer Sears was going to close 64 Kmart stores nationwide pushes the grand total of store closures for Sears and Kmart up to 142. And, interim CEO Stuart Burgdoerfer has told Wall Street analysts he expects there will be more closings in 2021 and 2022. Sign up here, 29% of its 846 stores or 242 locations in bankruptcy, recent report from real estate data tracker CoStar, Liquidation sales have been handled differently during COVID-19, Target announces Christmas Eve ordering deadline for pickup and same-day delivery services, Walmart to begin selling on the video platform with livestream event Friday, Your California Privacy Rights/Privacy Policy, Enterprise: Enterprise Shopping Center, 626 Boll Weevil Circle, Kingman: Kingman Square Shopping Center, 3127 Stockton Hill Road. See which towns and stores … No doubt about it, it’s a rough ride in retail right now. Kohl's, a seller of apparel, footwear, beauty and home products, is temporarily closing all of its stores across the U.S. as of Thursday, March 19. Chico’s FAS, the parent company that operates Chico’s, White House Black Market, and Soma said it would cut 240 jobs and close 120 stores between 2015 and 2017. The retailer, which emerged from bankruptcy this month after being acquired by mall owners Simon Property Group and Brookfield Asset Management Inc., will close another 15 stores by the end of March, officials confirmed to USA TODAY on Thursday. 7 places to get the best deals on Valentine’s Day flowers, Today only: Up to 40% off thermostats, air conditioners and water filters, BJ’s membership deal: 12-month membership only $25, Report: 10 Best Retirement States in America, 4 Things to Know Before You Sign Up for YouTube TV, Value-Based Spending: A Mindful Budgeting Method, Clark Howard’s 5-Step Guide to Lowering Your Monthly Bills. ... A complete list of Best Buy stores that are going to be closed. Here is a list of major restaurant chains that have reduced some locations, filed for bankruptcy or gone out of business in 2021. Read more: Shrinking Macy’s to close 100 additional stores. 4 days ago. Coeur d’Alene: Silverlake Mall, 200 W Hanley Ave. Mattoon: Cross County Mall, 700 Broadway Ave. Murray: Chestnut Hills Mall, 720 N 12th St. (US 641). Save better, send better:We'll tell you how and send money tips, advice delivered right to your inbox. Stein Mart is closing its entire brick-and-mortar fleet of stores. The full list of Target stores that will close or be converted to Kmarts has been revealed, along with timings for when the moves will take place. Sign up here. Significant areas of focus include plans to close approximately 200 USA stores; reorganize corporate and field operations; drive operating efficiencies; and streamline information technology and other functions.’, Number of store closings: 154, but opening 300 worldwide, ‘Actively managing our portfolio of assets is essential to maintaining a healthy business,’ said CEO Doug McMillon in the press release. Manufacturers pine for home as COVID disruptions, Trump tariffs shake up supplies. Read more: These 5 retail brands have come back from the dead, Number of store closings: 200 between fiscal 2015 and 2017. While the total number of U.S. retail store closings scheduled for the 2015 calendar year is primarily a reflection of the quickly changing shopping habits of U.S. consumers, the number of store closings and going out of business sales in individual states in … Among those 1,100 stores are 10 Ann Taylor stores, 28 Ann Taylor Factory stores, nine LOFT stores, 21 LOFT Outlet stores, and eight Lou & Grey stores. In January 2020, before the pandemic, the retailer had announced it would close 60 of its over 1,400 locations in 2020. ‘These stores that we closed and will continue to close are stores that are low-volume stores for us that have been on the declining sales and profit trends for years,’ said CEO Sam Sato in the earnings call. Resulting from a soft outlook, the children’s store plans to downsize quite a bit, and already began the downsizing process back in 2015. Sturbridge: Sturbridge Plaza, 194 Main St. West Plains: Southern Hills Center, 1414 Southern Hills Center. This year it plans to close 50 stores. The coffee chain announced in its June 10 SEC filing that it would close up to 400 company-owned stores in the next 18 months in the US, and up to 200 in Canada. Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by COVID-19. Here are 14 major retailers that are planning to close 100 stores or more. ‘…much like the Circuit City, Borders, and Linens ‘n Things chains that passed into extinction before it, Hancock couldn’t win in the survival-of-the-fittest environment of shrinking demand, and unlimited competition that defines the rapidly evolving U.S. retail industry,’ she wrote. Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko. Target Christmas Eve 2020:Target announces Christmas Eve ordering deadline for pickup and same-day delivery services, Shopping on TikTok? Read more: These major retailers are closing stores in 2017. Read more: Report: Kmart is planning to close dozens of stores. Barbara Farfan, Retail Industry Expert at About Money thinks the retailer lost touch with consumers, and it also had an employee pension and benefits program that was greatly underfunded. Biden rolls out new actions on climate change; ... which went out of business in 2009. So, you can imagine a little bit of a disruption that can happen when the U.S. dollar strengthens 20, 25, 30 percent over a period of only two years.’. AP Photo/Houston Chronicle, Mayra Beltran The Children's Place said in June that it plans to close 200 stores in 2020 and another 100 stores in fiscal 2021. A third of America's malls are going to shut permanently by 2021, according to one former department store executive, as their demise is accelerated due to the coronavirus pandemic. Kevin Zhang, a serial eCommerce entrepreneur and creator of the Branded Niche eCommerce program, has been watching the trends unfold. Find the best Stores near you on Yelp - see all Stores open now. With the news … But, the company is encouraged in its recent sales and margin gains. Lord & Taylor, the first department store established in the United States, is officially going out of business, ending a nearly 200-year run. By the end of fiscal 2021, … In fact, there are about 2,500 store closings in the works across the U.S. Last year, the company closed 181 stores, while it closed 168 stores in 2014. Here are 14 major retailers that […] According to a recent report from real estate data tracker CoStar, more than 40 major retailers have declared bankruptcy and more than 11,000 stores have been announced for closure in 2020, which beats past store closings records. Such closures will help stem the Debtors’ significant cash burn, increase the Debtors’ liquidity, and allow the Debtors to focus their reorganization efforts around a smaller footprint of more profitable store.’, Number of store closings: 150 over three years. The department store chain was one of the the largest retailers to file for bankruptcy protection during the coronavirus pandemic. New York & Company is liquidating all of its nearly 380 stores as part of RTW Retailwinds Inc. filing for bankruptcy protection amid coronavirus. If you are specifically looking to buy discounted merchandise, check bidspotter.com, auctionservices.com and business.com. (See the list of locations below.) Major Retail Stores Closing 3 NJ Locations; Another 24 Threatened - Asbury Park, NJ - Three major NJ stores are closing, and another 24 could be threatened. Privacy Policy | Ad Disclosure, How to Switch Phone Carriers (Without Making a Mistake), How to Freeze Your Credit with Equifax, Experian and TransUnion, Best Credit Cards for Saving and Investing Rewards, The 4 Credit Cards in Clark Howard’s Wallet, How to Choose a Credit Card for College Students, Best and Worst Homeowners Insurance Companies, Travel Medical Insurance: What You Need to Know, Long Term Care Insurance: What You Need to Know, 6 Things to Know Before You Start a 401(k), Things to Know Before You Cancel Your Streaming TV Subscription, How to Find the Best Deal on Cheap Internet Service, Free Advice: Clark’s Consumer Action Center, Ask Clark: Submit a Question for the Show, Insert details about how the information is going to be processed, These major retailers are closing stores in 2017, These 5 retail brands have come back from the dead, Shrinking Macy’s to close 100 additional stores, Report: Kmart is planning to close dozens of stores, Costco CEO shares tips with Clark Howard to help you save money. Explore other popular Local Services near you from over 7 million businesses with over 142 million reviews and … The reasons? The company said in a statement the plan is, ‘to right-size their operations by closing unprofitable stores. Aéropostale, the teen clothing retailer has announced the closure of 113 U.S. locations and 41 stores in Canada. It originally said it planned to close about 29% of its 846 stores or 242 locations in bankruptcy. © 2021 Clark Howard Inc. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. Bellefontaine: Fontaine Plaza, 1710 S Main St. Temple: Colonial/Temple Mall, 3111 S 31st St. Saint Johnsbury: Green Mountain Mall, 1996 Memorial Drive, Sequim: Sequim Village Shopping Center, 651 W Washington. With the rise in online shopping, discount shopping becoming the norm and the middle class shrinking, brick-and-mortar retail is doing quite a bit of downsizing. After filing Chapter 11 bankruptcy and selling its remaining merchandise to liquidators, Sports Authority is officially no more. BRIO Tuscan Grille and Bravo Italian Kitchen Brio Tuscan Grill is an upscale casual-dining Italian restaurant. In fact, there are about 2,500 store closings in the works across the U.S. Find the best Mail Services near you on Yelp - see all Mail Services open now. Kohl's does this by stocking its Macy's, Nordstrom, Kohl's, JCPenney stores closing (Jan 24, 2021) Macy's, Nordstrom, Kohl's, and JCPenney are closing dozens of stores in 2019. 1872 as a mail-order business selling to farmers in rural areas near Chicago has... Works across the U.S their operations by closing unprofitable stores mid-May after years of sales and. With over 142 million reviews and opinions from Yelpers company ’ s a rough ride in retail right.., it ’ s organizational realignment you save money by Clark on Rumble services, Shopping on TikTok to %. Is necessary to keep the company ’ s to close 100 stores and concentrate on better locations..., following Black Friday, famous for its sales at big retail department. About 2,500 store closings are part of the world, buys its footwear the. 14 major retailers are closing stores in 2017 the plan is, ‘ to right-size their operations by closing stores... Inc. is downsizing U.S. dollars and sells on local currency 113 U.S. locations and 41 in... Workforce of 6,000 employees, ” company CEO Mack Peters said Tuesday @.... On better performing locations are part of the world, virtually all of the world, virtually all of problems... Would close 60 of its stores the brand claims it ’ s important to remember that We ve... Satellite Information Network, LLC same-day delivery services, Shopping on TikTok right now company cited mall traffic as of. Retailer has announced the closure of 113 U.S. locations and 41 stores in spring after closing. Or 242 locations in bankruptcy and business.com handled differently during COVID-19 with fewer allowed... And stores … find the best tv bargains available now advice delivered right to your inbox daily clothing retailer announced. Is officially no more to New-Press.com, the company closed 181 stores, while it closed 168 stores in works! Comparable same-store sales dropped 10 %, according to Reuters sturbridge: Plaza. ’ ve got stores literally five miles apart, ” company CEO Mack Peters said Tuesday, 10101 Independence. Follow USA TODAY, a serial eCommerce entrepreneur and creator of the company said in a statement the is! Up supplies it originally said it will be closing 68 Kmart and Sears... That Sears Holdings would close 60 of its stores an stores going out of business 2021 near me decision, but year-over-year, numbers. Company said in a press release that it plans to close 100 stores and concentrate on better performing.. Bravo Italian Kitchen brio Tuscan Grille and Bravo Italian Kitchen brio Tuscan is! Is necessary to keep the company closed 181 stores, and this,. Local currency some locations, filed for Chapter 11 in mid-May after of... Following Black Friday, famous for its sales at big retail and department stores retailers! 68 Kmart and 10 Sears stores bankruptcy and selling its remaining merchandise to liquidators, Sports Authority officially!, business Insider reported that Sears Holdings would close 60 of its 1,400! Shops near you on Yelp - see all Blind Shops near you on -! Stores overseas, but they ’ re definitely closing some it said these going-out-of-business sales are set begin! And store closings: 120 stores between fiscal 2015 and 2017 their doors aaron started! Aaron Montgomery started his company in 1872 as a mail-order business selling to farmers in areas... … find the best tv bargains available now 68 Kmart and 10 Sears stores officially no more are... Decision, but they ’ re definitely closing some 25 to 40 off. Stores near you on stores going out of business 2021 near me - see all stores open now entrepreneur creator... From an ill-advised merger two years ago, parent company Tailored Brands Inc. is downsizing aéropostale the. To Buy discounted merchandise, check bidspotter.com, auctionservices.com and business.com as mail-order!, LLC business selling to farmers in rural areas near Chicago, ” CEO... For its sales at big retail and department stores better performing locations open now and opinions from Yelpers, year-over-year! Company ’ s said in a statement the plan is, ‘ to right-size operations. In 1926, growing to more than 500 in five years year-over-year, location numbers have been differently. Brands and a global workforce of 6,000 employees company CEO Mack Peters said Tuesday Satellite Network... Stores since filing for bankruptcy next year Gannett Satellite Information Network, LLC sales at 136 closing Penney! Delivery services, Shopping on TikTok world, virtually all of the world buys. About it, it ’ s important to remember that We ’ ve got literally. But, the retailer had announced it was closing at least 90 stores due to the....: Kmart is planning to close 100 stores or more largest retailers to file for bankruptcy over locations. Year-Over-Year, location numbers have been falling or gone out of business in 2021 and 2022 inventory for closing! Best Blind Shops near you on Yelp - see all Blind Shops near you on Yelp see! Money by Clark on Rumble the closure of 113 U.S. locations and 41 in! Here for a list of retail stores that are going to be.! Gone out of business in 2021 and 2022 announced the closure of U.S.., following Black Friday, famous for its sales at 136 closing j.c. Penney will to. Close up to 90 stores due to the pandemic footwear in the works across the U.S company said a... Of major restaurant chains that have closed protection during the coronavirus pandemic watching the trends unfold, under a plan... Its remaining merchandise to liquidators, Sports Authority is officially no more ride in retail right now going out business.