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November 8, 2017 at 7:56 AM. Target is closing 12 stores in nine states. The stores are set to close in February. More than 6,300 store closures have been announced so far in 2017. Target plans to ...
Retailers are closing thousands of stores following years of declines in sales and customer traffic.
Retail apocalypse refers to the closing of numerous brick-and-mortar retail stores, especially those of large chains, beginning around 2010 [2][3] and accelerating due to the mandatory closures during the COVID-19 pandemic. In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising ...
Chico's FAS closed 120 stores by 2017 and another 50 stores closed by 2018. [84] The company announced a further 40 store closings in June 2022. [85] The Children's Place announced on June 11, 2020, that 300 stores across the United States, Canada, and Puerto Rico would be closing in the following months. [86]
Updated March 23, 2017 at 3:35 PM JCPenney announced in February plans to close two distribution facilities and 138 department stores this year to redirect resources in higher-performing locations ...
Just for Feet – bankrupt in 1999, acquired by Footstar, final stores closed in 2004. MC Sports – filed for bankruptcy and closed in 2017. Modell's Sporting Goods – first store opened in 1889. On March 11, 2020, the company filed for bankruptcy, and announced it would close all 115 stores.
The closings will bring Sears' store count to about 1,180, down from 2,073 five years ago. Sears announced its first round of store closures in January. Three more rounds have been announced since ...
In April 2017, rue21 announced plans to close around 400 stores, part of an American retail phenomenon of store closings known as the retail apocalypse. [12] On May 16, 2017, rue21 filed for Chapter 11 bankruptcy protection, and emerged on September 22, 2017, after reorganization plan approval by the U.S. Bankruptcy Court for the Western ...