Included are Galleries in Galleria North, Waters Creek in Allen and the Shops at Clear fork in Fort Worth. Among those are three local stores : Knox Street in Dallas, Shops at Willow Bend in Plano and South lake Town Square.
Struggling home decor chain Galleries is retrenching, with plans to close more than two dozen stores across the country. The retailer filed for Chapter 11 bankruptcy earlier this year, according to the Dallas Morning News, and is in the process of rejecting leases for some underperforming stores.
Z Galleries Closes 25 Of It 77 Stores Nationwide. In conjunction with the filing and subject to court approval, Galleries expects to have access to a $28 million debtor-in-possession financing facility from its existing secured lender, Kazan National Association.
Founded in 1979, Galleries previously filed for Chapter 11 in April 2009 on the heels of a major sales slump. As brick-and-mortar businesses struggle to compete against e-commerce giants, the number of closures among department stores and national and international brands are on the rise.
Though 94 stores from an earlier closure announcement were already set to shutter, the remaining locations will officially close their doors by April 30. The company, which filed for bankruptcy in January, hoped to find a buyer to help save its remaining locations, but was unable to do so.
The remaining Gap stores, along with Banana Republic, Athlete, Intermix and Hill City, will continue to operate under the name New Co. The move comes as the U.S. continues to be a challenging market for the brand, which has seen steadier growth overseas.
With that in mind, H&M does also plan to open 355 new stores this year, but a majority of them will be located outside of Europe and the United States. According to the company, the closures will mostly take place in big cities and over saturated markets, where branches of the global coffee chain are cannibalizing each other’s business.
Customers can still use gift cards, return items, and exchange purchases with no interruption or change in policy. Individual locations will share their closing sale plans and a timeline for winding each business down.
According to Forbes, the children’s retailer had shuttered 191 stores by the end of 2018 and still has a little more than 100 locations left to go. The company is also investing heavily in boosting its online presence in order to increase profitability.
The company made its plans known in late 2018, with a target date of Feb. 1, 2019, to complete the store closures. Vera Bradley is rethinking its business strategy, refocusing its attention on licensing rather than brick-and-mortar stores.
As revealed in late 2018, women’s retailer Christopher & Banks plans to close 30 to 40 stores over the course of the next two years. In February, parent company L Brand announced that 53 more locations of the lingerie and women swear retailer will shutter.
The corporation made the decision to focus on its brands with greater potential, including Victoria’s Secret and Bath & Body Works. The closure will affect not only its namesake stores but also certain locations of its two other retail brands, White House Black Market and SOMA.
Website remains active, and the company’s products will continue to sell in various drugstores nationwide. J.C. Penney has been a mall staple for decades, but, like many other major retail chains, it’s dealt with struggling sales in recent months.
Following a lackluster holiday season and a drop in stock value, the company announced it plans to close 18 of its department stores this year. As part of a turnaround plan to revitalize the company and boost its online sales, Destination Maternity Corp. is shrinking its retail presence.
Ascent Retail, the parent company to various women swear brands including Loft, Ann Taylor, Dress Barn and Lane Bryant, has seen a decline in overall sales in recent years. Southeastern Grocers, which oversees markets like Bi-Lo, Winn-Dixie and Harvey's, announced plans to close 22 stores on or before March 25.
The decision comes less than a year after the company emerged from Chapter 11 bankruptcy, which initially led to the closure of 94 stores. Foot Locker Inc. will close 165 stores this year, as the company announced in March.
The move is part of an effort to continue improving profit margins for the shoe retailer, which surprised shareholders by performing better than expected in the last quarter of 2018. Macy’s is shuttering eight stores in early 2019 as part of a series of planned closures announced several years ago.
The closures will impact two locations in California, as well as one store in each of the following states : Wyoming, Washington, Indiana, Massachusetts, Virginia and New York. After losing its CEO at the end of 2018, the brand started off the new year by closing six stores in January.
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