What Stores Are Going Out Of Business 2020
Stores closing in 2020.
What stores are going out of business 2020. On Wednesday March 11 2020 the company filed for bankruptcy and announced it would close all 115 stores. Business Insider reported that at least 16 Hallmark-branded stores in 12 states would close in the first half of 2020 according to local reports and social media posts by store owners. These 20 Retailers May Go Bankrupt in 2020.
In 2018 the retailer closed down 29 of its locations and the trend continues coming into the end of 2019. USA Today first reported the closures. Ascena had operated 2800 locations.
The company will continue to operate locations in Europe Asia and the Middle East. Its hard for regional discount department stores to hold their own against national giants Walmart Target and Kohls. Its a hard hit for the company that only recently lost 94 stores after crawling their way out of bankruptcy.
It was announced in May 2020 that 27 of its 300 stores have been purchased and will reopen as Loves Furniture. Le Pain Quotidien filed for Chapter 11 bankruptcy protection in May 2020 and closed all of its 98 locations in the US. This year brought an end to the Bon-Ton family of department stores which included the Bergners Bon-Ton Boston Store Carsons Elder-Beerman Herbergers and Younkers chains.
Mall-based retailers as Macys moves out of lower-tier. Ascena Retail Group Ann Taylor Loft Lane Bryant Lou Grey. In June 2020 Aurify Brands announced they had purchased over 40 of the US.
Troubled retailer Bon-Ton is shutting down. Southeastern Grocers has had to close around 22 of their stores already this year with places like Winn-Dixie and Bi-Lo losing several of their locations. In August 2020 Stein Mart announced that they had filed for Chapter 11 bankruptcy protection.