All articles tagged with #store closings
Rite Aid is closing 53 stores this month, including 13 in New York state, as part of its ongoing restructuring efforts following Chapter 11 bankruptcy. The affected locations include stores in Amherst, Buffalo, Lockport, and Tonawanda. The pharmacy chain has closed or announced closures at about 500 stores since filing for bankruptcy, with falling sales and opioid-related lawsuits contributing to the decision.
Macy's plans to cut 2,350 jobs, primarily in corporate positions, and close 5 stores, representing 3.5% of its workforce, as it prepares for a new CEO. The move comes as the retailer aims to streamline operations and improve its cost structure amid declining sales due to reduced consumer spending on apparel and discretionary items. The company's share price has risen, but it faces pressure to revitalize its business, with an investor group recently bidding to take it private.
Christmas Tree Shops, a popular retail chain in New England, has faced financial trouble and recently closed all 49 remaining stores. The company filed for Chapter 11 bankruptcy earlier this year but failed to meet revenue projections during store-closing sales. As a result, a U.S. Bankruptcy Judge converted the bankruptcy to a Chapter 7 liquidation and ordered a court-appointed trustee to ensure that employees are paid for their work. The closure has been described as a "complete breakdown," and the company must now sell off all remaining stores unless a last-minute buyer is found.
Bed Bath & Beyond plans to close all of its stores by June 30 as part of its restructuring efforts, but stores included in a potential sale could remain open. Party City is also closing some of its stores by June 26 as part of its expedited financial restructuring process. The retail industry has seen a growing number of bankruptcies this year, including David's Bridal, which filed for bankruptcy protection in April and plans to close all of its locations if it can't find a buyer.
Nordstrom and Nordstrom Rack are closing a total of 15 stores in Canada and the US this year due to lack of profitability and crime. The retailer is closing all 13 brick-and-mortar locations in Canada and cutting 2,500 jobs. In the US, Nordstrom is pulling out of San Francisco. The full list of store closings includes six Nordstrom stores and seven Nordstrom Rack stores in Canada, and one Nordstrom store in San Francisco.
Bed Bath & Beyond has filed for Chapter 11 Bankruptcy and will begin closing its 360 Bed Bath & Beyond and 120 buybuy Baby stores, although exact closing dates have yet to be determined. The struggling New Jersey-based retailer has already closed all of its Harmon stores and terminated over 1,000 jobs earlier this year. The company's websites will remain open as it begins its efforts to effectuate the closure of its retail locations.
Bed Bath & Beyond has filed for bankruptcy and is expected to close all of its 360 stores and 120 Buy Buy Baby stores by June 30, putting thousands of jobs at risk. Store closing sales will begin on April 26, with products being sold at deep discounts. Customers can use gift cards until May 8, 2023, and merchandise credits until May 15, 2023. The company expects to partner with an alternative platform for registry data transfer. Returns and exchanges for items purchased before April 26 will be accepted until May 24. Coupons will no longer be accepted after April 26.
Bed Bath & Beyond has filed for bankruptcy protection and will begin closing stores while still searching for a buyer. The company will stop accepting coupons on Wednesday when store closing sales begin. The iconic blue coupon will no longer be available. Customers can still shop online and use gift cards until May 8. Returns and exchanges will be accepted until May 24 for items purchased before Wednesday.
Bed Bath & Beyond has filed for Chapter 11 bankruptcy and plans to wind down its entire business. Its remaining 360 stores and 120 buybuy BABY stores and websites will remain open and continue serving customers as the company seeks a buyer for its remaining assets. Final store sales will begin on Wednesday, and all store closing sales will be final. Customers can redeem rewards points until May 15, and stores will stop accepting coupons on Wednesday. Employees will continue to be paid, and customer registry data is safe.
Walmart is set to close 20 underperforming stores in 11 states and Washington, D.C. in 2023, with the number increasing from the initial 15. The company cited financial losses and record-breaking retail theft as reasons for the closures. Walmart will also lay off hundreds of employees in several states, including New Jersey, Texas, California, Florida, and Pennsylvania. The full list of store closings can be found in the article.
Walmart is closing four stores in Chicago due to their lack of profitability, with losses nearly doubling in the last five years. The company has tried different strategies to improve performance, but they have not been successful. All associates are eligible to be transferred to another Walmart location, and the pharmacies at the closing locations will remain open for up to 30 days. The decision has caused disappointment and sadness in the affected communities, with some customers expressing concern about the loss of services beyond retail.