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The company's stores were sold to a group of liquidators, and its CEO announced that all stores would close by the end of August 2016. [289] [290] Stein Mart filed for Chapter 11 bankruptcy in August 2020 with intent to close all of its locations due to the COVID-19 pandemic. [291] Sur La Table filed for Chapter 11 bankruptcy in July 2020. [22]
Joann, the bankruptcy fabrics and crafts retailer, is closing about 60% of its 800 stores in the coming months as part of its Chapter 11 process. Joann, the bankrupt fabrics retailer, is closing ...
Store closures in the U.S. last year hit the highest level since the pandemic — and even more locations are expected to shutter this year, as shoppers’ dollars increasingly go to a few ...
Struggling fabric and crafts seller Joann plans to close about 500 of its stores across the U.S. — or more than half of its current nationwide footprint. The move, announced Wednesday, arrives ...
Retail industry closures soared in 2024, with more than 7,100 stores shutting down through the end of November — a 69% jump from the same time last year, according to research firm CoreSight.
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of ...
Macy's also confirmed on Jan. 9 that the retailer would be closing 66 stores as part of an ongoing reorganization strategy. Kohl's locations that have been affected by the nationwide closures include:
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...