With the booming new year, most of us are still thinking of new starts, but for A handful of beloved companies , 2023 could well mean the end. With the inflation and the consequences of Covid always affecting the economy, many retailers are on their last step. Unfortunately, this year may be your last chance to fill up on some of your favorite stores (at least in person). Read more to see the six stores that could completely go bankrupt this year.
Read this then: Popular reduction stores, including Marshalls, end from January 14 .
1 Joann
Joann, officially known as Jo-Ann Fabrics, is struggling to stay afloat in the new year. At the height of the pandemic, the craft paradise has actually seen a sales increase With more people than ever, picking up new hobbies such as sewing and knitting during locking. But as the world slowly returned to normal (or new normal), Joann had trouble keeping their number.
During the second quarter of September 2022, "net sales decreased by 6.8% Compared to the same period last year at $ 463.3 million, with total comparable sales decreasing by 6.2%, "said the world information. In terms of Joann's gross profit, this also decreased by 20% compared to the same period last year. In July 22, 2022, Joann had a debt of $ 1.1 million with "cash and cash equivalents of $ 21.5 million".
Things continue to seem disastrous for the company: they recently announced that it would be Closing of several stores on January 22 . Although it has not officially made its doors, it is difficult to know if the remaining craft stores will pass throughout the year.
2 Morpler
Morphe Cosmetics, a manufacturer of cosmetics and beauty founded in 2008 best known for its partnerships with Beauty Youtubers as James Charles ,, Jeffree star , and Jaclyn hill , closes its doors. The company closes its 18 stores in the United States, including 10 in California.
On January 5, Morphe published a statement on their Twitter account saying: "We made the difficult decision to Close all Morphe stores in the United States We are eternally grateful to our store teams for their passion, their talent and their dedication over the years. ""
This news comes after the company was struck by several proceedings in the past year, including one by the owners of Arden Fair Mall, where Morphe would not have succeeded in Pay the rent in 2022. In addition, Morphe's parent company, FORME BRANDS now deposited in bankruptcy .
3 Scourge
The Disappearance of Sears has been playing for many years; They have constantly closed stores since he filed a record in October 2018. But 2023 could be the year when the retailer formerly officially firm his doors for good.
"The company has decided to sell parts of itself to help generate income and diversify its source of income, but in vain, because the company could not make profits", " Peter Varadi , detail expert and CEO of Market Gap Pro recount Better life . "It is also important to note that the company has not made any profits in full year since 2011. For these reasons, 2023 could be the year when Sears disappears."
On December 13 of last year, Sears Hometown, a subsidiary branch of the department store giant, also bankrupt and closed 115 stores. Today, according to CNN, the company has Only 121 stores remaining in the United States (he had more than 700 at his peak), while his parent company, Sears, Has only 21 (this has more than 3.5oo at its peak When he merged with Kmart).
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4 Bed bathtub and beyond
Bed Bath & Beyond, another big retailer with a darker year in advance, is equivalent to our homes with sheets, towels, and even more since 1971. But on January 5, the company warned the public that they could be in trouble.
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6 Rite
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