Store closures news and archive

Map of a giant collapsing: some happy, others not

Following the filing of bankruptcy by Sears Holdings, 142 Sears & Kmart stores across the US will be liquidated. Here is a map showing their locations. While bankruptcy of Sears means havoc for its shareholders, many landlords are happy to see them go. According to NBC News, one location in Staten Island, New York can look forward to a 727...

ManagementFeatured

Sears Holdings files for bankruptcy, to close 142 more stores

Sears Holdings Corp. said Monday that the company and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The company noted that it will also close 142 unprofitable stores near the end of the year. Edward Lampert has...

ManagementFeatured

7000 to 10,000 U.S. retail stores expected to close in 2017

This is no great year for brick-and-mortar stores. In a recent article by Forbes, it has been projected that between 7000 and 10,000 U.S. retail stores will close this year alone. Notable brands, such as Bebe and Payless, have already been victims of this year of discontent. The number of new stores opening this year is expected to be very low....

Report

Crocs to close 160 stores by 2018

London - In spite of certain designers efforts to breath new life into Crocs (looking at you Christopher Kane), the US footwear brand has struggled against declining sales and is set to close up to 160 stores. Crocs recently posted a decrease in revenue for the second year in a row for its fiscal year 2016. Revenue for the footwear company...

RetailFeatured

JC Penney and Macy's to shut down 39 and 14 stores in 2015

The start of a new year is bond to bring around change, something which US retailers JC Penney and Macy's have embraced whole heartedly. Earlier this week both department store groups revealed plans to welcome 2015 by improving business by focusing on smaller, better performing locations with less staff. JC Penney aims to boost profitability by...