WXYZ got its list from Business Insider's More than 3,300 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list.
Retailers are expected to close more than 3,300 stores this year, following record-high rates of closings last year.Just to review, here are the chains closing more than 100 stores, along with my comments.
More than 9,300 store closings were announced in the US in 2019, smashing the previous record of roughly 8,000 store closures in 2017, according to an analysis by Business Insider.
The number of store closings this year could be even higher than previous records, according to estimates from the real estate firm Cushman & Wakefield. The firm estimated last year —prior to the coronavirus pandemic — that as many as 12,000 major chain stores could close in 2020.
The pandemic is now putting even more stores in danger of closing, as retailers grapple with dramatic drops in sales in traffic.
- Pier 1 Imports: 450 stores — I reported this in Pier 1 Imports files for bankruptcy, a tale of the Retail Apocalypse.
- GameStop: 320 stores — This chain has been on my radar since Business Insider on stores closing in the Retail Apocalypse with updates in Company Man on GameStop, a tale of the Retail Apocalypse and GameStop losing money and closing stores, a tale of the Retail Apocalypse.
- Papyrus: 254 stores — "The stationary chain Papyrus filed for bankruptcy in January and said it plans to close its 254 stores in the US and Canada." I missed this news and now the chain will be gone forever.
- Victoria's Secret: 238 stores — oh, my.
- Gap: 230 stores — looks like they fell into the generation gap of shopping.
- Walgreens: 200 stores — I'm not worried about Walgreens going away, although they may suffer from Starbucks's problem, too many stores too close together.
- Chico's: 200 stores — never heard of them.
- Destination Maternity: 183 stores — I reported this alread in Destination Maternity/Motherhood Maternity files for bankruptcy and announces store closings, blaming lower birth rates, a tale of the Retail Apocalypse.
- Forever 21: 178 stores — I have been following this story since September, when I posted Forever 21 is facing bankruptcy, a tale of the Retail Apocalypse then Forever 21 files for Chapter 11 bankruptcy, a tale of the Retail Apocalypse, followed by an update in CNBC and Business Insider explain the rise and fall of Forever 21, a tale of the Retail Apocalypse.
- Modell's: 153 stores — "The sports retailer Modell's filed for Chapter 11 bankruptcy protection in March and said it plans to close all of its 153 stores." I missed this news, too, and now the chain will be gone.
- A.C. Moore: 145 stores — "The craft-store chain A.C. Moore is shutting down all 145 of its stores in 2020. A.C. Moore's parent company, Nicole Crafts, announced the closings in November and said about 40 locations would be converted into Michaels stores." At least I know Michaels.
- Macy's: 125 stores — I reported this in Macy's announces 125 stores closing and 2,000 corporate jobs cut, a tale of the Retail Apocalypse.
- Art Van Furniture: 125 stores — reported in Art Van Furniture going out of business, a tale of the Retail Apocalypse.
- Bose: 119 stores — "The audio equipment retailer Bose said in January that it planned to close 119 stores globally, including all its stores in the US."
All of this is happening as stores and malls are reopening in Michigan, which WXYZ also reported in Two local malls set to reopen May 28.
I'm not going back to the mall any time soon. My wife and I are doing our shopping online and having it delivered to home or picking it up in the parking lot, something millions of Americans are also doing.
That's it for the Retail Apocalypse for today. With luck, the next entry will be about the first commercial crew mission to the ISS. Cross your fingers and stay tuned!
*I also reported how Kroger and other grocery chains were ending "hero pay" and remarked that deserved a post of its own. I'll get to it.