More than 3,500 stores could be closed within the year, in what some experts are coining the “retail apocalypse.”
Major retailers across the country have taken a hit as consumers shift their spending habits in the age of e-commerce. Several have filed bankruptcy, closing all brick-and-mortar stores, including Bebe and The Limited.
The effects has impacted Ohio shopping centers and malls, leaving some retail space vacant after closures. Here’s the list of retail stores that have announced closures:
• 500 to 1,000 stores: PAYLESS — The Kansas-based retailer is discussing restructuring plans that would include closing stores. It could also close file for bankruptcy.
• 552 stores: RADIO SHACK — General Wireless Operations, the parent company of RadioShack, is in the process of restructuring the electronics retail company. This is the second time in two years that RadioShack has filed bankruptcy.
• 250 stores: THE LIMITED — The parent company of women’s clothing store The Limited has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Court, and the store website has been taken offline.
• 240 stores: FAMILY CHRISTIAN — Christian faith-based gift and book store chain Family Christian announced it’s closing all of its 240 stores nationwide, including four locations in the area.
• 170 stores: BEBE — The women’s clothing retailer has filed for bankruptcy and closed all store locations.
• 160 stores: CROCS
• 150 stores: GAMESTOP — GameStop, a video game and consumer electronics retailer, will close at least 150 stores after reporting another year of declined sales. The Texas-based company released its report of sales and earnings for 2017 last week, and projected a grim 2017 for some stores.
• 138 stores: JC PENNEY — J.C. Penney announced the locations of 138 stores it plans to close as part of a previously announced consolidation, including four in Ohio. The store nearest to Dayton on the list is located in St. Mary’s Square shopping center in St. Mary’s.
• 120 stores: BCBG — BCBG Max Azria Group announced the company has taken the next step in the restructuring of its brands. The company, which owns BCBGMAXAZRIA, said Wednesday it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code
• 110 stores: AMERICAN APPAREL
• 108 stores: KMART— The parent company of Sears and Kmart warned there is “substantial doubt” that the retailers can continue to survive. The company, which lost $2.2 billion in sales last year, announced earlier this year that it would close 150 Sears and Kmart stores.
• 88 stores: HHGREGG — Appliance store hhgregg is closing 88 stores and laying off 1,500 employees, and four locations in Ohio will be impacted.
• 70 stores: STAPLES — The office supply store reported a $548 million loss in the fiscal fourth quarter of 2016.
• 70 stores: CVS
• 68 stores: MACY’S— The retailer announced it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season.
• 60 stores:ABERCROMBIE & FITCH — Abercrombie & Fitch Co. has eliminated 150 positions at the corporate level, a spokeswoman confirmed with this news organization today.
• 60 stores: GUESS
• 42 stores: SEARS — The company, which lost $2.2 billion in sales last year, announced earlier this year that it would close 150 Sears and Kmart stores.
• 30 stores: GANDER MOUNTAIN — The outdoor sporting goods retailer, which sells guns and rifles, operates 162 and announced that 32 “underperforming” stores will shut down in the next several weeks. No Ohio stores were on that list of impacted stores.
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