Apocalypse in retail: more than 2020 stores will close in the US in 3600

Retailers are expected to close more than 3600 stores this year, and this is after a record high close in 2019. According to the analysis of the publication Business Insider, more than 9300 store closures were announced in the U.S. last year, surpassing the previous record of approximately 8000 store closures in 2017.

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Real estate agency Cushman & Wakefield estimates the number of store closings this year could be even higher than in previous reports. The agency estimates that up to 2020 large chain stores may be closed in 12.

The pandemic is currently threatening the closure of even more stores, as retailers face a sharp drop in sales. According to Business Insider analysis, to date retailers have confirmed the closure of at least 3600 stores.

Next, we present a list of stores ready for closing in 2020.

Pier 1 Imports: 450 stores

In January, retailer Pier 1 Imports said it plans to close 450 stores, which is about half the total. The company is struggling to stay afloat after several years of falling sales.

Closures can affect thousands of workers. At the time of the publication of the announcement, Pier 1 Imports had about 950 stores and about 4000 employees.

The company also said it plans to reduce the number of employees and close some distribution centers.

GameStop: 320 stores

In March, GameStop announced that it had closed 333 stores in fiscal 2019 and opened 12 new ones.

In 2020, the company said it expects the closure of 320 stores or more.

Papyrus: 254 stores

In January, the Papyrus chain filed for bankruptcy and plans to close 254 stores in the US and Canada.

Victoria's Secret: 238 stores

Victoria's Secret parent company L Brands said in May it plans to close 2020 stores in the U.S. and Canada in 251, the majority of which (238) are in the United States.

Gap: 230 Stores

Gap closes hundreds of stores under its current brand and opens new ones under other brands, including Old Navy and Athleta. In February 2019, the company announced that it plans to close about 230 Gap stores over the next two years.

Tuesday Morning: 230 stores

The retailer filed for bankruptcy in May and said it plans to close 230 of its approximately 700 stores.

Walgreens: 200 stores

Walgreens intends to close 200 US offices as part of a multi-year cost-cutting program. The company did not disclose any details about the timing or places of closure.

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Chico's: 200 stores

Women's clothing retailer Chico's said in 2019 that it planned to close about 250 stores, including 100 at Chico's, 90 at Black House and 60 at Soma, within three years. The company closed 49 stores as of November 2, 2019, leaving about 200 more expected closures over the next two years.

Destination Maternity: 183 stores

Destination Maternity filed for bankruptcy protection in October 2019 and plans to close 183 stores in the United States, Canada, and Puerto Rico. The company owns stores under its brand of the same name, as well as under the brand Motherhood Maternity.

Forever 21: 178 stores

Forever 21 said it plans to close 350 stores worldwide, including some 178 in the U.S., after filing for bankruptcy protection in September 2019. According to the company, many of these closures will occur in early 2020.

Modell's: 153 stores

Modell's sports retailer filed a bankruptcy lawsuit in March and said it plans to close all of its 153 stores.

AC Moore: 145 stores

AC Moore handicraft store chain closes all 2020 of its stores in 145. AC Moore's parent company, Nicole Crafts, announced the closure and announced that about 40 stores will be converted to Michaels stores.

Macy's: 125 stores

Macy's plans to close 125 stores over the next three years and cut thousands of jobs as part of its cost-cutting plan.

Art Van Furniture: 125 stores

Art Van Furniture filed for bankruptcy and said it plans to close all of its stores in Michigan, Indiana, Illinois, Ohio, and Missouri, as well as eight Wolf Furniture stores in Maryland and Virginia.

In a bankruptcy petition, the company indicated that it operates 169 stores and plans to sell in 44 of those locations. Other stores will be closed.

Bose: 119 stores

Audio equipment retailer Bose plans to close 119 stores worldwide, including all in the United States.

Olympia Sports: 76 stores

Olympia Sports said it is ready to close 76 stores after it was bought by sports retailer JackRabbit. Shops will be closed in 2020.

Sears: 96 stores

Retailer Sears said it plans to close 96 stores in February, including 51 at Sears and 45 at Kmart.

Earth Fare: 50 stores

In February, Earth Fare said it would close all of its stores.

“Earth Fare is proud to serve the natural and organic food market, and the decision to begin the process of closing our stores was not taken lightly,” the company said in a statement. “We would like to thank our team members for their commitment and dedication to serving our customers, and our suppliers for their partnership.”

The company said it decided to start liquidating its stores because of “persistent retail challenges that hindered the company's progress and its ability to refinance its debts.”

Bath & Body Works: 50 stores

Bath & Body Works parent company L Brands has announced that it intends to close 2020 stores in the United States in 50.

Kmart: 45 Stores

Parent company Kmart Transform Holdco is ready to close 45 Kmart stores.

Bed, Bath & Beyond: 44 stores

Bed, Bath & Beyond plans to close around 44 stores in 2020.

The company said it plans to close 40 stores in fiscal 2019, which ended in April, and another 20 in fiscal 2020. By January, the company had completed about 16 of those planned closures.

Bed, Bath & Beyond operates several stores including World Market, BABY BAYBY, Christmas Tree Shops, and One Kings Lane.

See a list of closing stores here.

Lucky's Market: 32 stores

Lucky's Market's regional grocery chain closes most of its stores and fires thousands of employees.

According to a Sun Sentinel report, by February 12, Lucky had closed 32 stores and laid off about 2500 employees.

Express: 31 stores

In January, Express announced that by 2022 it plans to close 100 stores, which is about a quarter of the total.

That number includes nine stores that closed last year and 21 that closed at the end of January.

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Neiman Marcus: 20 stores

In March, Neiman Marcus announced its intention to close most of its 22 Last Call stores.

“Select Last Call stores will remain open to serve as a distribution channel for remaining Neiman Marcus inventory,” the company said.

Nordstrom: 19 stores

Retailer Nordstrom announced its readiness to close 16 full-fledged department stores in Arizona, California, Colorado, Florida, New Jersey, Maryland, Oregon, Virginia, Texas and Puerto Rico.

Closures account for about 14% of all Nordstrom stores. The company later announced that it will close three Jeffrey boutiques.

Hallmark: 16 stores

According to local media and Facebook posts by owners, at least 16 stores under the Hallmark brand in the US are closing in 2020.

Rich Schauer, the owner of the Hallmark store in Forest Park, Illinois, complains that social networks are stifling the business of postcards.

“Now this is not a viable business,” he stated. “People bought and sent postcards all the time. Now everything is online. Everyone celebrates their birthdays on social media.”

JCPenney: 6 Stores

In January, JCPenney announced it would close six stores by April 24, particularly in Montana, North Carolina, New York, Ohio, Oklahoma, and South Carolina.

Walmart: 3 shops

Walmart plans to close one store in Michigan (a supercenter in Epsilanti) and two in North Carolina (in Wadsboro and Lumberton).

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