Massive store closures in the US, dubbed the retail apocalypse, continue in 2019. Brick-and-mortar retail's biggest loss to date will be the closure of all 2,500 Payless shoe stores following a bankruptcy filing. Gymboree Group will close all of its Gymboree and Crazy 8 children's clothing store locations. Charlotte Russe clothing stores will also disappear, while Family Dollar stores will partially close, remain open and be converted into Dollar Tree locations (off-price general stores).
As retail money moves quickly online, big box stores are also suffering. Sears made the top 10 in 2019 with 70 locations closed, but other brands like Kmart (50 locations), JCPenney (27 locations), Macy's (9 locations), Kohl's (4 locations) and Nordstrom (3 locations) are also included.
U.S. retailers closed 9.5 million square feet of space in 2017 and a record 14 million square feet of space in 2018, according to Business Insider's rankings . 2019 could lead to a new record.
Massive store closures in the US, dubbed the retail apocalypse, are continuing in 2019. The biggest loss of brick-and-mortar retail announced so far will be the shuttering of all 2,500 Payless shoe stores following a bankruptcy filing. Gymboree Group will close all its locations of kids clothing stores Gymboree and Crazy 8. Charlotte Russe clothing stores are also to disappear while Family Dollar stores are partially closing, remaining open and being converted to Dollar Tree locations (cheap mixed-goods shops).
With retail money moving online quickly, large department stores are also suffering. Sears made the top 10 in 2019 with 70 locations closing, but other brands like Kmart (50 locations), JCPenney (27 locations), Macy's (9 locations), Kohl's (4 locations) and Nordstrom (3 locations) are also closing stores.
Retailers in the US closed 102 million square feet in 2017 and a record 155 million square feet of space in 2018, according to the ranking by Business Insider . 2019 might bring about a new record.
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