Good Lifestyle

Cases of coronaviruses continue to skyrocket and governors begin to issueLocking and residence controls at home, things seem dark for American retailers. The last months have seen stores suffer, articulated by the current pandemic. The last to have difficulties?Chain Francesca's clothing and accessories.The Fashion Dween company and young adult young people have announced the closure of 97 stores, a few days after the deposit of the bankruptcy of Chapter 11. Read more about the future of Francesca and For another bankruptcy deposit that hurts, checkThis legendary store has just announced its bankruptcy deposit.

The news comes a few weeks after Francesca's announcement on November 16 that it wasClose 140 from its 700 stores By the end of January 20, 1921. Then, on December 3, the company filed the protection against the bankruptcy of Chapter 11, and the Chain of Clothing says that it plans to clog 97 additional locations,According to judicial documents obtained by CNBC. About half the adClosures are in American shopping centers, which suffer deeply due to the countryside being ground at a stop.

Even before the pandemic begins, however, Francesca faced difficult conditions. In January 2019, CEOSteve Lawrence resigned in the middle of aReview of the financial options of the company, with external evaluators being purchased to evaluate Francesca's options. Reports at the time indicates how the company had been affected by the youngest buyers in migration to online retailers and independent shops. During 2019, sales dropped by 14%. And September 15, 2020, Francesca announced in a statement that hisSales of the second quarter had fallen by 29%.

Utpal Dholakia, a marketing professor at the University of Rice, told theChronicle Houston thisFrancesca struggled Due to a failure to identify its key market. "The Francesca merchandise is very undifferentiated," said Dholakia. "You can buy their goods in the target and elsewhere. They are confused about where their brand is and that consumers do not know why they should go."

An existing lender, Tiger Finance LLC, has agreed to put in place funding of $ 25 million, which would guarantee the "timely payment of the wages and benefits of staff, the provision of orders and the shipments of customers and the Payment of other obligations during Chapter 11 cases. "This is at least a certain comfort for Francesca staff, who are now facing an uncertain future.

"We are convinced that we will emerge from this process as a stronger business on the point of conducting growth by exploring new brand avenues, expanding our e-commerce channels and providing our customers with the latest fashion options and the treasure hunting experiences they know and we love for, "CEO of Francesca Andrew Clarkesaid in a statement.

Continue reading for other stores closing stores and for more information about the current state of detail, check whyThis brand of popular clothing farm 100 stores.

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Although closures are planned before Covid's success,Abercrombie & Fitch Off Seven of its largest flagship stores in the world at the beginning of 2021. The shops that close their doors are in Düsseldorf, Germany; London, England; Munich, Germany; Paris, France; Brussels, Belgium; Madrid, Spain; and Fukuoka, Japan.

However, Abercrombie & Fitch CEOFrancorowitzsaid in a statementColumbus Business Journalthat "all theseThe stores will be examined. "And for more closures to become aware, checkThis beloved brand closes all but 2 of its American stores.

On November 30, the British Retail Empire behindTopshop moved into the administration, the equivalent of the U.K. Chapter 11 Protection against bankruptcy. It was an approximate year and a half forTopshop's parent company, Arcadia Group, which has 444 stores in the United States, 22 international and about 13,000 employees, according toThe New York Times. Every 11 years.Topshop stores were closed in mid-2019Although the brand - and his counterpart, Topman - was available online and Nordstrom.

Arcadia said the coronavirus played a major role in the current state of society. "TheForced closure of our stores For periods supported as a result of the Pandemic of Covid-19 had a significant impact on the negotiation of our companies, "said a spokesman for Sky News on November 27. And for more detail news delivered directly to your inbox,Sign up for our daily newsletter.

Tween marked justice announced in November that it would beShut downAt the beginning of 2021. But it may not be the end of justice yet. Its parent company, ASCNA RETAIL GROUP Inc., sold the brand in Bluestar Alliance LLC for about $ 90 million and Bluestar plans toRebuild and develop justice.

"Justice is an important asset with years of growth increase. An icon of Tween culture, with its felt influence between fashion, lifestyle, pop culture, etc., we see the possibility of Global brand promotions and partnerships, "Bluestar CEOJoseph Gabbaysaid in a statement. And for another emblematic company that suffers, checkThis beloved catering chain just dropped bankrupt.

Even theThe largest baby clothing company and children In the United States can not survive the free pandemic. CARTERS, the parent company that includesCarter shops and brands Oshkosh B'GoshRecently announced that nearly 200 of its stores, which amounts to 35% of its brick and mortar locations - would shutter for good.

"Nearly 60% of theseClosures can occur at the end of the year, "CEO of Carters and PresidentMichael Caseysaid on a gain call at the end of September. "And 80% of these closures are planned at the end of 2022." And for another stop, do you know, know thatThis beloved coffee chain has just announced the bankruptcy.