Another beloved model has filed for Chapter 11 chapter safety in the wake of the COVID-19 pandemic. On Jan. 26, iconic magnificence model L’Occitane Inc. introduced that it might be shuttering numerous its shops in the U.S. because of its restructuring. Read on to find what number of shops are affected by the company’s chapter submitting. And for extra manufacturers buckling amid the pandemic, This Beloved Furniture Chain Is Closing All But 1 of Its Stores.
L’Occitane (*23*) that will probably be closing 23 of its 166 stateside shops in a bid to execute its “store footprint optimization plan.” The company noticed in-person gross sales drop 56.5 p.c between April and Dec. 2020 as in comparison with its 2019 gross sales, whereas its on-line gross sales rose by 72 p.c.
Yann Tanini, Managing Director of L’Occitane North America, defined in an announcement, “Over the past year, we have moved aggressively to address COVID-related challenges head on…We look forward to working collaboratively with our landlords to achieve partnerships that make economic sense in this current retail environment and best position our marquee brand’s boutique offering for years to come.”
While L’Occitane has not but introduced which shops might be closing, it has already laid off 40 workers and furloughed an extra 325 amid the pandemic.
L’Occitane is not the solely model that is needed to make drastic adjustments since COVID hit, nevertheless; learn on to find which different shops are closing as a result of the pandemic. And for extra methods your favourite buying expertise is altering, This Iconic Department Store Is Closing Another 40 Locations.
Popular chocolatier Godiva introduced in late January that it might be closing all 128 of its places in the U.S. “Of course, this decision was difficult because of the care we have for our dedicated and hardworking chocolatiers who will be impacted. We are grateful for all they have done to make wonderful moments for our consumers and spread happiness through incredible customer service and living our values and behaviors,” mentioned Godiva CEO Nurtac Afridi in an announcement. And for extra companies shutting their doorways, This Beloved Home Goods Chain Is Closing More Than 40 Stores.
Casual clothes retailer American Eagle Outfitters introduced on Jan. 21 that it might be closing as much as 250 shops in the close to future. While the precise shops closing haven’t but been introduced, the company might be shuttering the affected places in the subsequent three years. “We’re confident that we can transfer sales from closed stores into other stores or online, continue to acquire new customers and make the American Eagle brand more profitable over time,” Michael Rempell, govt vp and chief operations officer of American Eagle Outfitters, defined to Women’s Wear Daily. And for extra methods your subsequent buying journey could also be completely different, These 2 Beloved Department Stores Are “Slowly, Quietly Dying.”
Clothing retailer Christopher & Banks, which at present operates 449 places in the U.S., “expects to close a significant portion, if not all, of its brick-and-mortar stores” following its Chapter 11 chapter submitting, the model introduced on Jan. 14. “Due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in whole or in part to position the Company for the future,” Christopher & Banks’ president and CEO Keri Jones defined in an announcement. And for the newest retailer closure information delivered straight to your inbox, join for our every day publication.
Midwestern division retailer Stock+Field introduced on Jan. 10 that it might be closing all of its places after a 55-year run. “We hope to reopen stores at some point in the future, but for now, please come in, say hello to your favorite employee, and enjoy the ridiculously low prices,” mentioned Stock+Field CEO and chairman Matthew F. Whebbe in an announcement. And for one other division retailer in bother, take a look at This Iconic Department Store Just Filed For Bankruptcy.