Major Retailers Closing in 2017, Is Your Store on the List?

consumer
November 27, 2017Nov 27, 2017

The year of 2017 has been brutal for brick-and-mortar stores. It seems no department chain has been immune. With the rise of ecommerce powerhouses like Amazon, traditional outlets are struggling to meet the demands of an increasingly cyber-consumer customer, according to Fox News. Here is a list of stores who have drastically scaled back their brick-and-mortar operations, and of those companies who have shuttered their stores completely due to changing consumer shopping habits.

Companies in 2017 Announcing Drastic Closures:

Abecrombie & Fitch announced in March that it would close 60 stores, to focus on online sales. Aerosoles filed for bankruptcy in November, and the company has said that it will keep at least four flagship stores open in New York and New Jersey, although it was unclear how many of the 88 stores would be affected.

BCBG, a Los Angeles-based brand, closed 118 stores nationwide this year, though 300 will remain open. The Children’s Place, which is located in shopping malls, said it will close hundreds of stores by 2020 as part of a shift toward digital commerce. CVS announced earlier this year that it will close 70 store locations to cut costs, though thousands of stores will still remain in business.

Guess announced in 2017 that it will close 60 stores to refocus on international markets. Gymboree, a kids clothing retailer, confirmed last July that it will close 350 of its more than 1,200 store locations. J.C. Crew announced in November that it will close 50 stores to stay competitive.

J.C. Penny announced it will close 138 stores to meet shifting consumer tastes, also announcing that it plans to open toy shops in all of its remaining brick-and-mortar locations. Macy’s reported that they will be closing 58 outlets, as well as reducing its workforce by several thousand employees in an effort to explore a digital platform.

Michael Kors announced that it will be shutting 125 stores nationwide. Rue21 said in May that they will close up to 400 of its more than 1,100 locations after filing for bankruptcy. Sears/Kmart, one of the most prominent traditional retailers, has shut down more than 300 locations this year after battling ecommerce outlets.

Toys R Us, the popular toy outlet, filed for bankruptcy in September amid mounting debt and pressure from skittish suppliers. The company has said that for now, its 1,600 stores will remain open through the 2017 holiday season, although after that the outlook is uncertain.

Companies in 2017 Announcing Permanent Closings:

American Apparel announced earlier this year that it will shutter all of its 110 U.S. locations after filing for bankruptcy. The company has been picked up by a Canadian-based company. In May, Bebe, a woman’s apparel chain, closed all of its remaining 168 stores amid plunging sales.

Hhgregg, the electronics retailer, announced that it will close all of its 220 stores and lay off thousands of employees after failing to find a buyer following bankruptcy proceedings. The Limited closed all 250 of its physical stores last January, causing a loss of about 4,000 jobs.

Payless filed for bankruptcy last April and is in the process of closing about 800 stores this year. RadioShack, although it isn’t completely defunct, is now operating only 70 stores nationwide, down from a peak of several thousand. Wet Seal, the teen fashion brand, shuttered its 171 stores earlier this year after filing for bankruptcy in 2015.

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