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The COVID-19 pandemic exacerbated many issues affecting malls. [16] During the COVID-19 pandemic, many malls closed temporarily due to stay-at-home orders. [17] [18] A number of notable retailers filed for bankruptcy during the pandemic including Ascena Retail Group, Brooks Brothers, GNC, JCPenney, Lord & Taylor, and Neiman Marcus.
In 1996, the parent company decided to close all remaining stores, but Thom McAn footwear is available in Kmart stores. [69] Today's Man – a men's suiting store that began in the 1970s and expanded rapidly in the 1980s and 90s. Overexpansion brought the brand to bankruptcy in 1996.
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.
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Macy’s, for example, is in the middle of closing about 150 of its namesake stores across the country by early 2027. The department store operator has been shuttering roughly 50 of those per year ...
These are tough times for two big US dollar store chains. In the past month, Family Dollar said it will close nearly 1,000 stores and 99 Cents Only said it will go out of business.
Bose shut down all of its 119 retail stores in 2020 in order to follow a "dramatic shift" to online shopping only. [79] Carter's announced the closure of at least 200 stores in an earnings call in October 2020; the children's apparel chain planned to close about 80% of its locations by 2022. [80]
A projected 15,000 stores are expected to close between now and the end of December, and some of the retailers that are shutting down the most locations may surprise you. 10. Best Buy