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Unpuzzle Finance > Business > Say Goodbye to These Popular Stores and Branches – They Are Closing By 2020

Say Goodbye to These Popular Stores and Branches – They Are Closing By 2020

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People love shopping. Nowadays, they love shopping even more, because they can buy whatever they need from their home – with just one click away. Shopping online is convenient: you spot a discount – press the button and order, you need something but its raining outside? – shop online; you want to avoid long lines? – shop online. Shopping online is convenient and straightforward.

More and more people are becoming obsessed with online shopping. As expected, brands started noticing this practice, and they had to do something. Fewer and fewer people are visiting stores. So, as a natural response, brands began focusing more on online shopping, while some even have closed their stores. What does online shopping preference mean for your favorite brand? Will you be able to visit their stores or not? Read on to see if your favorite brand is closing its stores by the end of 2020.

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25. Payless

If you love buying cheap shoes for low prices, you must explore Payless’s online option. This major brand announced that it has filed for bankruptcy, and they will close all 2,500 of its stores.

Payless closed many of its stores in March of 2019, causing shoes to fly off their shelves. Some stores remained open until May, and then they were closed and so on. Payless pointed out that they had a massive problem with suppliers than lead them to do into debt.

24. Henri Bendel

Can you really imagine the New York fashion scene without famous Henri Bendel black and white striped boxes? Well, apparently you will have to. This famous Fifth Avenue brand won’t offer in-store makeovers for customers anymore.

Henri Bendel announced that their sales have soaked, and its owner decided that Henri Bendel will close all of its stores. They want to focus on more earning brands such as Victoria’s Secret and Bath & Body Works. As of January 2019, all stores and websites were shut.

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23. Tesla

This may sound unrealistic, but Tesla is going through a massive business change. Although it’s not unusual to see Tesla parked everywhere across the States, pretty soon, that sight will be a thing of the past.

Tesla decided to focus on online sales. Is it strange to buy a car online? Of course, it is, but this is Tesla – so the sky’s the limit. Still, Tesla will keep some stores open that will serve as galleries, information centers, and showcases. In a nutshell – the entire Tesla business will be driven to the company’s website.

22. Family Dollar

Ah, the joy of finding home essentials for the low price… nothing beats it! However, this might be a thing of the past. Just recently, Family Dollar announced that they would be permanently shut the doors of 390 stores.

In addition, Family Dollar also noted that they are thinking about staying in business, but they might operate under a different name. There are rumors that Family Dollar plans to sell goods for more than the $1 price tag. This is yet to be confirmed.

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21. Dressbarn

Can we really continue living without Dressbarn on every corner? Well, we will have to, because the days when Dressbarns were everywhere are now over. Just recently, Dressbarn announced that they would close all of its locations.

They also said this decision is difficult but much necessary for their brand. Still, the brand vowed to help its employees make smooth transitions to new and different workplaces. This is also champions take because Dressbarn has 6,800 employees.

20. Vera Bradley

Vera Bradley is one of the most beloved American brands. Still, don’t start crying already because this brand is on the list. There are still chances for this brand to survive. You might even enjoy their rich product offer, from handbags to candles, and more in between.

The brand will cut some of its stores. Actually, by the end of 2020, Vera Bradley plans to close half of its stores, which is in numbers 50 out of its 110 locations. However, factory outlets remain open, and the company will sell its products to places like Hallmark, Beyond, and Bed Bath.

19. Gymboree

This beloved children’s clothing company filed for bankruptcy in 2019, and some significant changes are coming. Eventually, Gymboree would close all of its 800 stored through the States and Canada.

Ever since they have announced bankruptcy, final sales are going on in most of its stores, while online shopping has come to an end. Still, there are some good news here. Gap recently bought out Gymboree’s Janie and Jack brand, along with its website. So, a small piece of Gymboree will continue to live on.

18. Abercrombie & Fitch

The popular Abercrombie & Fitch comes with a piece of good and bad news. This beloved clothing brand is closing down up to 40 of its stores. And that’s not everything.

At the same time, the popular brand announced that it would open up to 40 new stores. What’s the logic of closing 40 and opening 40? According to the company, new stores will be much smaller in size and will be totally remodeled to meet new shopping criteria.

17. Charlotte Russe

Charlotte Russe was the place to go if you want stylish but inexpensive dresses and figure-hugging outfits in general. It was almost mission impossible to find a school dance that did not have Charlotte Russe outfit. Sadly, those days are a matter of the past.

In March of 2019, the company filed for bankruptcy. What does that mean in practice? This means that all of its stores – 500 in total – would shut down. Online stores have already stopped, and by the end of April 2020, all stores should be closed permanently.

16. Macy’s

Macy’s is probably the most famous department store brand in the States and outside the States. Also, the company is known for organizing one of the largest parades in the States, famous – Macy’s Thanksgiving Day Parade. Sadly, you won’t be seeing this parade anytime soon.

A few years ago, Macy announced store closing and that time came. The year 2019 will forever be marked as the year when this clothing giant started closing its iconic stores. So far, two are closing in California, while ew York, Virginia, Indiana, Massachusetts, Wyoming, and Washington will each be losing one store. Luckily, there will be 600 more stores to visit.

15. Lowe’s

Can you imagine any DIY project without having Lowe’s nearby and getting what you need? Well, it seems that you will have to. If you are Lowe’s fan, stock up on their products because so far the brand has closed 51 of its stores, and more are to be closed.

By the end of 2018, the Lowe’s has closed 31 stored in Canada and 20 in the States. This is a small fraction since Lowe’s has over 2,000 locations, but it’s still a considerable loss for garden lovers.

14. Victoria’s Secret

It’s no secret that Victoria’s Secret has been struggling with its sales lately. The lingerie market has never been too broad as it’s now. Everyone is fighting hard to keep their customers, and some brands are doing better than others. Sadly Victoria’s Secret is not doing better than others.

Customers want comfort and accessibility, rather than glamorize Victoria’s options. So, just in 2019, Victoria’s Secret has closed more than 53 stores. In 2018, the brand had to close 30 stores. At the same time, new lingerie companies are seeing growth.

13. e.l.f Cosmetics

Eyes, Lips, Face, or better known as e.l.f Cosmetics is going through some massive changes. Although people loved this brand for its price-quality balance, the time has come for this brand to close its stores.

The brand will close all of its stores, but online space will remain. The e.l.f. is going to focus on digital sales and close all of its 22 locations. What to do if you need a quick in-store makeup? Don’t worry! The brand will continue to do business with popular drug stores.

12. Foot Locker

Sneakers are huge in fashion right now. Everyone loves sneakers, and even celebrities love exploring new looks with fresh sneakers. However, although the shoe industry is booming, Foor Locker is closing many of its stores. The reason?

In 2019, Foot Locker Inc. announced that they are planning to close 165 of its stores across the State. The company’s plan is to use the millions of dollars saved from closing these stores to upgrade the existing ones. You may have to walk distance to reach Foot Locker, but you may still enjoy new and improved stores.

11. Starbucks

Yes, Starbucks is changing something. Just in 2019 famous coffee brand closed 150 of its locations permanently. Yet, this is not something that should stress you, because you can still have your favorite coffee just a block or two away.

The truth is that you won’t be seeing Starbucks on every corner. Exactly 150 stores are closed so far. The reason? Stores that are closing are located in cities where the market is oversaturated with famous brands.

10. H&M

Hennes & Mauritz, yes, that’s the full name of the famous Swedish brand, pioneered fast-fashion as we know it today. This famous retailer brought amazing clothes without the bank-breaking price tag to the global scene. However, it seems that the scene in the States is about to change when it comes to H&M.

Just recently, H&M announced that it would close 160 stores across the States. It turns out that the growth in stores across the States is prolonged, while in other areas, stores are booming. So, H&M decided to focus on stores outside of Europe. Furthermore, the famous brand is opening 355 new locations in other parts of the world.

9. J.C. Penney

It’s tough to inspire customers to come to the store when they can order everything online. J.C. Penney knows this better than anyone else. Departments stores are closing because people are choosing to shop online.

J.C. Penney was a big name when it comes to shopping centers and fashion malls. However, recently this famous line started experiencing a huge drop in sales. As a result, 18 18 department store locations and nine J.C. Penney furniture stores will close in 2019. More closures are planned for 2020.

8. Chico’s

Chico’s started as a small three-person operation in Florida, only to grow to over 600 stores in the States and Canada. Chico’s also holds two other brands: White House Black Market and Soma. Recently, this famous women’s apparel retailer delivered some sad news.

On a recent conference, Chico’s announced that 250 of its stores across the States would have to close permanently. Actually, the stores are set to close slowly over the next few years, so you can still manage to buy Chico’s favorite items.

7. Bath & Body Works

You might want to stock up on your favorite Bath & Body Works products because this brand is saying goodbye to its 24 stores. Just in 2019, Bath & Body Works closed three of its stores. Interestingly, every closure comes with opening and renovations.

L Brands Inc., the bath shop’s parent company, has announced that it will also open 46 new stores and renew 175 existing shops. Great news for Bath & Body Works lovers. Interestingly, at the same time, Bath & Body Works grew for three percent.

6. Kohl’s

Kohl’s decided to take on some preventive measures. Due to a decline in shoppers heading to malls, Kohl’s decided to close a few stores that are close or inside of malls.

According to Kohl’s stores inside the malls have low performance, and the brand’s managers want to change that. Luckily, management has offered special packages to employees. With this move, Kohl’s hopes to be ahead of falling sales, instead of ending up as the companies mentioned in this list.

5. Lord & Taylor

Lord & Taylor is the oldest department store in the States, and Lord & Taylor loyal shoppers know how amazing this department store is, or it used to be. LOyal fans received some bad news in early 2019 when after 140 years of work, the L&T announced that it would be closing its store on Fifth Avenue in New York City.

Lord & Taylor is also going to close ten additional stores over the next year, but the exact locations are yet to be announced. This is a massive loss because Lord & Taylor has 45 locations in total.

4. The Children’s Place

Once upon a time, The Children’s Place was a go-to place for picking out affordable and fashionable children’s clothes. Moreover, you could do that in 300 locations. Sadly, The Children’s Place started closing its stores in 2018, and the trend was continuing in 2019.

Just during 2018, The Children’s Place closed 191 stores and an additional 100 in 2019. If you can’t imagine your life without this brand, don’t worry because the brand will continue selling through its online store.

3. Performance Bicycle

For anyone who is a passionate cyclist, seeing Performance Bicycle on this list can be a shocking revelation. This famous brand is pumping the breaks nad closing all 104 stores across the States.

Performance Bicycles is linked to Advanced Sports Enterprises, since its Bycicles’s parent company. Once the Advanced Sports Enterprises file for bankruptcy, it has become difficult for Performance Bicycles to stay open. As of March, all stores will be closed for all.

2. Topshop

Topshop came to the States in 2009, and it was an instant hit. Even celebrities like Jay-Z and Kate Moss are huge Topshop fans. Sadly, Topshop fans will have to go further to shop for this brand because shops in New York, Los Angeles, Miami, Las Vegas, San Diego, Atlanta, Chicago, and Houston are closing.

The reason for this sudden move is linked to Topshop’s parent company, Arcadia Group. Recently, Arcadia Group filed for bankruptcy as a result of highly competitive e-commerce market trends and a sharp change in consumer habits. The company’s representatives shared that this decision was painful but necessary.

1. Target

Target is one of the biggest and most popular retailers located across the States. Target knows that they must adapt to new habits and business practices that recently that the brands decided to adapt to new consumer trends. So, in the last few years, Target has closed at least six stores.

In 2019, two stores were closed in Chicago, one in Minnesota and one in New York, Tennessee, and Wisconsin. The good news here is that Target won’t close its stores forever. They will focus more on opening 20 smaller shops in different locations.

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