Many Stores To Close In

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

2017 was a very difficult year for many chain stores that due to low sales had to declare bankruptcy and close many of their stores. Even many of those stores are our favorites and unfortunately 2018 does not look good at all. It turns out that the problems of popular and beloved brands continue to increase and now many stores have announced that they will close a large number of stores due to poor performance. And it is that the popularity of virtual stores has done a lot of damage to physical stores since many prefer to buy the things they need from the comfort of their home.

Last year, brands like Michael Kors, Sears and Kmart announced that they will close dozens of their stores around the country and this obviously fell like a bucket of cold water to many consumers. In total about 5,000 stores were closed and so far this year that number is almost equal. Many of the stores that will close this year were announced last year, however most are stores that recently filed for bankruptcy.

Among the new stores that unfortunately will close several of its stores are Coach, who in the coming months will close 8 of its stores and Kate Spade that will close 11. On the other hand, American Eagle also joins the streak and will soon get rid of 10 or 15 of its stores, while Abercrombie & Fitch will close almost 60.

As previously announced Toys R 'Us has been one of the chain stores most affected by this crisis and although they recently received an offer for some of their stores to remain open, the company decided to reject it and will close 750 stores.

It really is a shame that stores so well known and loved by consumers have to close and close their doors forever. Hopefully things will improve for these companies.