Additional Retail Store closures in 2019
Arcadia Group, the London-based parent of the Topshop and Topman, closed its 11 U.S. stores at the end of June. The company filed Chapter 15, the part of the U.S. bankruptcy code that deals with foreign insolvencies, listing its assets at $53 million and debt at $179 million.
The retailer plans to close approximately 45 of its 870 Party City locations in 2019, a higher number than usual. The store closures will take place throughout the year.
The retail announced in June it will operate 1,500 HealthHUBs by the end of 2021 and open additional HealthHUBs in Houston, Atlanta, Philadelphia/Southern New Jersey and Tampa this year.
Kohl’s Corp. is shutting down all four of its Off/Aisle discount stores.
Apparel retail giant Gap Inc. will shutter 230 Gap brand stores over the next two years. At the start of 2018, the Gap brand had 725 stores worldwide. After the closures, which include 68 stores it closed this year, the chain will be down to roughly 427 stores or 41% of its total fleet.
Payless ShoeSource — which was once the most successful family-owned business in the country — shut doors.The retailer filed for Chapter 11 bankruptcy protection in February as it prepared to wind down its approximately 2,500 store locations in North America and its e-commerce operations.
Signet Jewelers Limited said in April it expects to close more than 150 stores in its Fiscal 2020.
Bed Bath & Beyond
Bed Bath & Beyond announced it’s closing “a minimum” of 40 stores, as it shifts focus to open 15 new Next Generation Lab.