Over 1,700 Stores Are Already Slated To Close In 2020
After 2019 set a new record for store closures among national retailers, 2020 is off to a similar start.
Over 1,700 closures will take place this year, Business Insider reports. More than 9,300 stores shut their doors last year, breaking 2017's record by over 1,000, but Cushman & Wakefield estimates that this year could blow past 2019's figure and reach as high as 12,000 closures, BI reports.
Some of the 1,700 planned closures had been previously announced, such as Forever 21 outposts that are currently in post-bankruptcy restructuring. Others may take until 2021 to complete.
Here is the list of national retail chains that have announced closure plans, according to BI:
- Pier 1 Imports: 450 stores
- Gap Inc.: 230 stores
- Walgreens: 200 stores
- Chico's: 200 stores
- Destination Maternity: 183 stores
- Forever 21: 178 stores
- AC Moore: 145 stores
- Olympia Sports: 76 stores
- Sears: 51 stores
- Kmart: 45 stores
- Bed Bath & Beyond: 44 stores
- Macy's: 30 stores
Pier 1 will be closing over half of its 950 stores, and has also announced plans to vacate part of its distribution center network, BI reports.
AC Moore's closures amount to its remaining stores, though 40 of those locations will be reopened under the banner of Michael's, its chief competitor in the craft supply business.
Sears' new parent company, Transform Holdco, will be left with 182 stores after the 96 Sears and Kmart locations close this year.
