This beloved brand closes all but 2 of its American stores
After nearly 100 years in business, the versions of the brick and the mortar of this store disappear.
Pandemic coronavirus hasTangle many companies Through the United States, but few have been as brutally affected as the retail sector. Day after day, companies and emblematic shops are forced to close their doors and the last victim is a shoe brand of nearly 100 years: naturalizer. The store of the store, Caleres Inc., announced that it wasClosure of 133 naturalizing stores In the United States and Canada, and at the end of the fiscal year, only two will remain following the United States for details, and for another recent closure that has many disappointed buyers, checkThis adored restaurant chain has just filled a bankruptcy.
When calling the benefits of the third quarter of Caleres this week, the PVP and the CFO of the companyKenneth Hannah The said naturalizing stores have been considerably affected by the coronavirus pandemic, putting pressure and put a number of these stores in a loss position, "according to the dive dive. "We went shops that generated a decent amount of revenue and obviously have a reduction in the reduction [in foot traffic] put a lot of pressure on the final result," said Hannah. "Now it's just a good time to go ahead and go out."
As a result, shoe news reports, Caleres announced theClosures of most brick and mortar naturalizer stores And stated that I have planned to develop Naturalizer's e-commerce activities through its own website and other trademarks websites, which include famous shoes.
"[A] We continue to respond to changing models of consumer demand, it was time toNaturnizer store imprint address, "Calleres President, President and Chief Executive OfficerDiane Sullivan said on the call. "But do not deceive yourself, we continue to see the Naturalizer brand as a large component and the value of our portfolio. In fact, the naturalizer continues to inspire a great fidelity of the brand. It has an excellent problem of Anticipation and adaptation to consumer preferences and needs. "
Naturalizer dates back to 1927, their website note, taking into account its initial objective of "design shoes that are suitable for the way women lived their life. Although the company stood strong during the 21st century, in a restructuring of 2002, CaleresClosed 100 naturalizing stores and by 2017, 153The naturalizers have remained. However, at the end of this fiscal year, only two naturalizers will always be left up: one in the Miami shopping center and the 34rd rue de la Ville de New York.
Continue reading for other companies that suffer and for another company that closes on the left and right, checkThis iconic store closes more than 200 locations.
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1 Guitar center
The Covid pandemic has brought the music industry to a stop crunch, with everything, massive concerts at private music courses being put on hold. The slowdown now puts one of theMost emblematic music stores at risk: Guitar Center announced on November 13th that it will beBankruptcy deposit. Although store closures are not planned at this stage, in a statement posted on the site of the guitar center, the largest detailer of musical instruments and equipment in the country announced that it entered a transaction of Restructuring to reduce its $ 800 million debt. And for more stores that are not long for this world,This emblematic sporting goods company closes stores at the national level.
2 The place of children
On November 19, 19, the place of children announced that it would beClose 100 stores in 2021, above the 200 shopping stores that were clogged in 2020. The representatives of the company stated that the place of children had seenFall sales due to the pandemic, "Mainly as a result of a decrease in sales back to school because of schools adopting remote and hybrid learning models, as well as the impact of permanent and temporary store closures." And for more news from retail closure, checkThis beloved gym chain has just filled a bankruptcy.
3 Francesca
Francesca announced on November 16 that it would beClose 140 from its brick and mortar stores After seeing sales, falling from 29% in the second quarter of 2020. Although many Francesca stores will remain open, the company said in a statement that bankruptcy was always a possibility if sales do not improve. And for more news from the store closure delivered directly to your inbox,Sign up for our daily newsletter.
4 Justice
November 11, Tween Store justice has announced thatAll its stores will closingAfter his parent company, Ascena Retail Group, Inc., sold the brand in Bluestar Alliance for $ 90 million. In August, 600 of the 800 United States of Justice stores were closed and Ascena announced projects for the brand to move to an online model. However, as a result of the sale, Ascena will closing the remaining chain stores at the beginning of 2021.
However, Blueestar still has hope of justice. " Justice is an important asset with years of future growth. An icon of Tween Culture, with its influence felt through fashion, lifestyle, pop culture and more, we see the possibility of global brand extensions and partnerships, "said Bluestar CEO Joseph Gabbay . And for another Jarring retail report while buying continuous panic, check These two toilet paper companies have just filed bankruptcy .
