After shutting down more than 5,000 stores in 2017, store-closings are accelerating in 2018 with news that Bi-Lo LLC, the supermarket company that owns the Winn-Dixie chain, is preparing for a potential bankruptcy filing as soon as next month, and is planning to shut almost 200 stores as part of the move - either before or after the filing.
Winn-Dixie joins JCPenney, Bon-Ton, Toys R Us, Sam’s Club, Macy’s, Sears, Kmart and others in the growing list of 2018 shutterings as the 'great economy' that stocks foreshadow fails to show up in the retailer landscape.
As Clark.com details, the new year is shaping up to be another difficult one for traditional retailers.
J.C. Penney – 8 stores
After closing more than 140 stores in 2017, J.C. Penney is shutting down one of its distribution centers and eight more stores nationwide, The Dallas Morning News reports. Around 670 jobs will be cut with the closing of the distribution center in Wauwatosa, Wisconsin, this summer. Meanwhile, around 480 employees will be affected by the eight stores that are closing, which follows a post-holiday review. The locations will be shut down between now and May, according to CNBC.
Bon-Ton – 42 stores
The Bon-Ton Stores Inc., a department store chain, is closing more than 40 underperforming locations this year, including stores under all of the company’s nameplates. Store closing sales are scheduled to begin on February 1 and run for approximately 10 to 12 weeks, the company said in a news release. Associates at the affected locations will be offered the opportunity to interview for available positions at other stores.
Toys R Us – Up to 182 stores
Toys R Us, the iconic Wayne, New Jersey-based toy retailer, has announced that it will shut down up to 182 U.S. stores. Store closing sales are likely to begin in early February, with the bulk of the closures expected to take place by mid-April, according to a letter from the company’s CEO. However, some closures may be avoided if the store can negotiate more favorable lease terms.
Sam’s Club – 63 stores
Bad news for Sam’s Club members! The Walmart-owned warehouse club has abruptly shut down multiple locations across the country, according to local media reports. The retailer has confirmed that 63 clubs are closing and up to 12 of them will be converted to e-commerce fulfillment centers. Walmart said the impacted clubs will close over the next few weeks, leaving 597 Sam’s Club locations.
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7 comments:
More the result of changing business models than a weak economy. Many of these chains have been dying for well over a decade.
Everyone of these companies have been struggling and mismanaged for over a decade. Blaming anything current is BS.
Why go shop at these stores when they don't have everything you want in stock? Order online and you skip all the traffic and get exactly what you want delivered to your door.
The left want to claim victory over the recent growing economy (Trump). They claim it is their great work kicking in..lol. Wonder if they want to claim these store closings. I agree with the above comments that these stores have been going down for years. I like clicking a key and receive my goods at the door.
No times are changing and as you said clicking a button. Trump has nothing to do with their closing.
They couldn't recover from 8 years of Obama,know a few small businesses in the same boat.
With Kmart leaving, you have to wonder, will Sears be next?
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