{"id":13970,"date":"2019-06-20T15:01:12","date_gmt":"2019-06-20T22:01:12","guid":{"rendered":"https:\/\/moneyppl.com\/?p=13970"},"modified":"2019-10-01T09:53:23","modified_gmt":"2019-10-01T16:53:23","slug":"enjoy-these-50-stores-before-they-close-their-doors-for-good","status":"publish","type":"post","link":"https:\/\/dev.moneyppl.com\/enjoy-these-50-stores-before-they-close-their-doors-for-good\/13970\/","title":{"rendered":"Enjoy These 50 Stores Before They Close Their Doors For Good"},"content":{"rendered":"

Over ten years after the Great Recession, things do not seem to be getting any better. Bankruptcies hit an all-time high in 2018. Many brick-and-mortar stores have closed down for good in favor of online shopping. Going into 2019, there doesn’t seem to be any end to the bankruptcies any time soon. So, which businesses are closing for good, and why? Read on to find out which locations are shutting down, so that you can hurry to grab and of your favorite brands before they disappear for good.<\/span><\/p>\n

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Payless Shoesource is closing down nearly all US locations. Credit: Shutterstock<\/figcaption><\/figure>\n

50. Payless Shoesource<\/span><\/h2>\n

If you were a kid growing up in the 90’s, it is almost guaranteed that your parent brought you to Payless Shoesource during your back-to-school shopping trip. In February of 2019, Payless Shoesource announced<\/a> that they would close down 2,500 retail locations. This was in addition to over 5,000 locations that they had been shut down last year. However, their locations in Latin America have reportedly been doing well in sales, and will continue to remain open. There is a very strong chance that in the near future, you will never be able to find another Payless in the United States again.<\/p>\n

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Petsmart is in $8 billion of debt. Credit: Shutterstock<\/figcaption><\/figure>\n

49. Petsmart Inc.<\/span><\/h2>\n

In 2018, Petsmart Inc. reported that they were $8 billion in debt, and attempted to restructure the business. There is so much competition out there, namely from its competing pet store, PetCo. There is also the fact that pet supplies are readily available from major retailers like Walmart, Target, and Amazon.com. In April of 2019, Petsmart Inc. announced on Bloomberg<\/a> that they were taking one of their subsidiaries, Chewy.com, public. They hope that by getting money from investors, they can begin to pay off that $8 billion. However, this is kind of like the old saying of “robbing Peter to pay Paul”. Only time will tell if this strategy can help bring them out of the hole.<\/p>\n

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Dressbarn is closing all of their retail locations. Credit: Shutterstock<\/figcaption><\/figure>\n

48. Dressbarn<\/span><\/h2>\n

In May of 2019, Dressbarn announced that they will be shutting down all of their 650 retail locations. The company was in business for over 50 years, and now they need to rely on their e-commerce platform to carry them through these closures. The announcement seemed sudden and unexpected, so the company promised to accept any returns and honor gift cards during the closing process.<\/p>\n

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Credit: Shutterstock<\/figcaption><\/figure>\n

47. Stein Mart<\/span><\/h2>\n

Stein Mart is the place to get “designer brands for less”, and boats products from impressive fashion designers like Louis Vuitton and Juicy Couture. In 2019, it was announced that the department store Stein Mart lost $5.2 million in revenue. This has forced them to close 16 of their store locations that were considered to be “under performing”. Unfortunately for Stein Mart, the brands they carry are beginning to lose their popularity, and that may have something to do with their financial issues. It is always possible that the could restructure and make a rebound, but only if they decide to change their strategies.<\/p>\n

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Burger Kings are closing in Puerto Rico. Credit: Shutterstock<\/figcaption><\/figure>\n

46. BKH Acquisition Corp.<\/span><\/h2>\n

Before you panic and run out to buy dinner at Burger King, don’t worry just yet. BKH Acquisition Corp runs 100 Burger King locations in Puerto Rico. The restaurants are not performing as well as the United States, most likely due to the fact that the island has been without power for a long time after Hurricane Maria in 2017. Even though the island is recovering, it is still too soon for people to truly get back to a normal life. So, in many ways, this is not really about Burger King losing popularity. The Puerto Rican branch of the company is preparing to file for bankruptcy. <\/span><\/p>\n

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Pier 1 Imports will close 45 stores by the year 2020. Credit: Shutterstock<\/figcaption><\/figure>\n

45. Pier 1 Imports<\/span><\/h2>\n

Home decor brand Pier 1 Imports announced that they plan to liquidate and close down 45 stores by 2020. In the 1990’s and early 2000’s, Pier 1 Imports was one of those places where so many house wives aspired to shop, even though the decor was over-priced. In recent years, more and more Marshall’s and Home Goods locations have been opening, which has shown Americans that you don’t have to pay a fortune for style. On the bright side, maybe you can score some sweet clearance sales.<\/p>\n

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Family Dollar is closing 309 locations. Credit: Shutterstock<\/figcaption><\/figure>\n

44. Family Dollar<\/span><\/h2>\n

Dollar stores were once considered to be recession-proof businesses. In fact, after 2008, more people than ever began to visit dollar stores to save money. However, Family Dollar is not always the cheapest place to shop, compared to Dollar Tree, where everything is only $1. Even Dollar General seems to have a much cleaner store layout, and better product options. In 2019, 309 Family Dollar locations shut down in areas where they were not performing very well.<\/span><\/p>\n

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JCPenney is suffering from past mistakes. Credit: Shutterstock<\/figcaption><\/figure>\n

43. JCPenney<\/span><\/h2>\n

In 2011, JCPenney made a mistake that still haunts them to this day: They got rid of the coupons. The higher-ups wrongly assumed that customers would appreciate having “every day low prices”, just like Walmart. However, it turns out that people really do enjoy the feeling of getting a bargain. They lost millions in sales, and by 2017, the department store has been having a hard time staying afloat. They are $4.2 million in debt. In 2018, they laid off over 1,000 employees in order to cut costs. According to Business Insider, sales are shrinking, and they have no problem writing about how old and outdated<\/a> their stores truly are.<\/p>\n

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Mattress Fim is closing down 700 locations. Credit: Shutterstock<\/figcaption><\/figure>\n

42. Mattress Firm<\/span><\/h2>\n

You may or may not have heard about the strange conspiracy theories about Mattress Firm. They have over 3,500 store locations- some of which are directly across the street from one another. And yet none of them ever seem to be filled with customers. It’s not too often people need a new mattress, right? The company has filed for Chapter 11 bankruptcy, and closed down 700 locations. However, this doesn’t really give an answer to the conspiracy theory, does it?<\/p>\n

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Credit: landsend.com<\/figcaption><\/figure>\n

41. Land’s End<\/span><\/h2>\n

Land’s End was popular for their preppy, laid-back sportswear and accessories. From 2002 to 2014, they were owned by Sears Holding, which was a fatal mistake for the brand. Their sales began to plummet. Land’s End once had their own catalogue similar to L.L.Bean, but once they were only sold in Sears locations, people no longer flocked to get their nautical themed clothing. However, once Sears Holdings announced that they will be closing their locations, Land’s End decided to open their own independent store locations in 2018. They also started selling their brand on Amazon. The company is hopeful that these changes can help turn their luck around.<\/p>\n

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Bon Ton is closing all of their retail locations. Credit: Wikimedia Commons<\/figcaption><\/figure>\n

40. Bon-Ton<\/span><\/h2>\n

For over 100 years, the Bon-Ton department store sold clothes and accessories for men, women, and children. However, by 2018, they finally decided to close down all of their brick-and-mortar locations. The company announced that instead of renting retail space, they were going to focus on e-commerce, instead. However, not many people have heard of Bon-Ton in the first place. So, only time will tell if anyone will continue to go to their website for another hundred years. At least they had a good run.<\/p>\n

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FullBeaty Brands sells plus-sized clothing. Credit: FullBeauty.com<\/figcaption><\/figure>\n

39. FullBeauty Brands Holdings Corp<\/span><\/h2>\n

With the growing demand for plus-size clothing, you would think that FullBeauty Brands Holding Corp would be able to stay afloat. Their brands include Fullbeauty.com, Woman Within, Roaman’s, Jessica London, Ellos, KingSize, and Brylane Home. In 2017, the brand’s sales dropped by 30%. When asked to comment on the issues with their stores, they put all of the blame on Amazon.com. For years, plus-size women had few options to find clothes to fit, but now that they can find everything online, there is no need to go out shopping and suffer any discomfort or embarrassment. Instead of pivoting to survive in this new world of e-commerce, FullBeauty Brands continue to be on the decline.<\/span><\/p>\n

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Sears is a fallen American icon. Credit: Shutterstock<\/figcaption><\/figure>\n

38. Sears Holding<\/span><\/h2>\n

If you have paid attention to the news at all in the past couple years, you already know that Sears is closing its doors forever. Kmart is also a part of the company which means that they will also shut down as well. They tried their best to stay afloat by selling off assets and closing down stores that were not profitable, but they officially filed Chapter 11 bankruptcy in October of 2018. This is no longer “if”. It’s “when”. Soon enough, Sears will sadly be a memory in American history books.<\/span><\/p>\n

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Office Depot. Credit: Shutterstock<\/figcaption><\/figure>\n

37. Office Depot<\/span><\/h2>\n

How many office supply stores do you really need? With Office Depot, Office Max, and Staples, there is plenty of pen and paper to go around. Not to mention the fact that Walmart often sells the same products for lower prices. The first sign of trouble started for Office Depot in 2017, when their sales dropped by 7%. The brand is trying a new technique of their “BizBox”, which is a subscription service that automatically sends new product to a business location each month. Usually, innovation is the only thing that can make or break a business. So we are not really sure if Office Depot will tank, or rebound.<\/p>\n

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Guitar Center is in millions of dollars of debt. Credit: Shutterstock<\/figcaption><\/figure>\n

36. Guitar Center<\/span><\/h2>\n

For years, going to Guitar Center was like being in Heaven for music lovers. People aspired to test out the various models in the soundproof room before leaving the store with an instrument of choice. However, in 2018, Guitar Center announced that they needed to refinance their $900 million in debt. It may just be a sign of the times. According to the CheatSheet, sales on electric guitars have dropped 36% in recent years. After the recession, many people are cutting back on items like this that are considered a luxury. On top of that, the Internet is changing how people buy guitars. Now, you can go on YouTube to listen to reviews, and with just a few clicks, you can buy it on Amazon.<\/p>\n

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J. Crew is preparing to close down 30 stores. Credit: Shutterstock<\/figcaption><\/figure>\n

35. JCrew<\/span><\/h2>\n

Ladies who lunch flocked to JCrew for both casual and fancy conservative attire. Unfortunately, though, they also earned a reputation for being very expensive for relatively plain clothing designs. Even though they were doing very well for years, the company is currently $2 billion in debt. It was announced that they will close a total of 30 locations, and they have already begun to remove under-performing locations. They seem to be focusing more of an effort on their outlet stores, and are in the midst of swapping out leadership.<\/p>\n

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The various Bluestem Brands are in financial trouble. Credit: Appleseeds<\/figcaption><\/figure>\n

34. Bluestem Brands<\/span><\/h2>\n

Appleseed’s, Bedford Fair, Fingerhut, Draper’s & Damon’s, Blair, and Gettingon.com all fall under the umbrella of Bluestem Brands. Since 2017, the company has had some steady decline. First, it was over 10% in 2017, and an additional 5%, and so on. This may not seem like a big deal, but all snowballs start out small. When was the last time you heard of any of these brands? It is likely that if they continue to lose sales, the company will not be around for much longer.<\/span><\/p>\n

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Claire’s accessory store. Credit: Shutterstock<\/figcaption><\/figure>\n

33. Claire’s<\/span><\/h2>\n

For years, Claire’s has been the go-to-store for young girls when they go to the mall with their friends. It has affordable accessories for little ladies in elementary and middle school, and many of us can say that it is where we got out ears pierced for the first time. This is why it is actually so hard to believe that they are struggling to bring in new customers. In 2018, it was announced that Claire’s was in $1.9 billion in debt, and they declared Chapter 11 bankruptcy. They also closed 130 locations, and are putting themselves on the market for buyers. So there is a chance that they will either be revived under the umbrella of a new company, or completely fazed out for good.<\/p>\n

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David’s Bridal sells dresses for brides and bridesmaids. Credit: Shutterstock<\/figcaption><\/figure>\n

32. David’s Bridal<\/span><\/h2>\n

For years, most brides prioritized having a huge wedding with an expensive dress, bridesmaids, and all of the fixings. After the Great Recession, more and more brides have opted to either elope, or try to do a wedding on a shoe string budget. Because of this shift in the public mindset, stores like David’s Bridal have begun to suffer. It owes $520 million in loans in 2019, and an additional $270 due in 2020. Yikes! That’s a lot of wedding dresses. The company will either be forced to refinance, or declare bankruptcy.<\/p>\n

If this does happen, it would not be the first bridal shop to close after the recession. In 2017, a bridal shop named Alfred Angelo abruptly closed its doors without warning, leaving brides high and dry without a dress to wear for their big day. Let’s just hope David’s Bridal at least gives people a warning, first.<\/p>\n

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Diesel clothing store. Credit: Shutterstock<\/figcaption><\/figure>\n

31. Diesel USA<\/span><\/h2>\n

In March of 2019, clothing retailer Diesel announced that they were filing Chapter 11 bankruptcy. The store is know for their “cool kid” vibes of denim, leather jacket, and tees. When asked to comment on the state of affairs, representatives from Diesel said that they believe the fault is really just in the overall decline of retail stores in favor of online shopping. The company has also reported that they were choosing to set up shop in high-rent locations, and there was also a large amount of theft. The company plans to turn itself around by focusing more on e-commerce, and occasionally having temporary pop-up shops in places where cool kids hang out, like Miami.<\/p>\n

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Nine West specializes in shoes and purses. Credit: Wikimedia Commons<\/figcaption><\/figure>\n

30. Nine West<\/span><\/h2>\n

Compared to a discount cobbler like Payless Shoesource, going to Nine West felt like a luxury experience. However, the store doesn’t seem to be very good at managing its money, because it is 1.6 billion in debt. It filed Chapter 11 bankruptcy, and was forced to restructure the business. Nine West has closed down 25 locations, and sold one of their smaller brands, Easy Spirit. At the moment, Nine West seems to be recovering slowly, but only time will tell what will happen later on.<\/p>\n

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Gymboree is a clothing store for children’s clothes. Credit: Shutterstock<\/figcaption><\/figure>\n

29. Gymboree<\/span><\/h2>\n

For years, Gymboree was one of the best places to by cute and stylish baby and toddler clothes. In January of 2019, Gymboree announced that they needed to declare bankruptcy, and close 800 stores. However, soon after the announcement, The Children’s Place swooped in to buy the brand, while Gap purchased their Jack and Jill clothing line. This is a perfect example that a truly good brand will continue to survive a bankruptcy, so long as it actually still holds some kind of value. Since the company is switching ownership, Gymboree stores are probably going to close as The Children’s Place figures out what to do with this new clothing company they just purchased.<\/p>\n

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Rockport shoe store. Credit: Shutterstock<\/figcaption><\/figure>\n

28. Rockport<\/span><\/h2>\n

Rockport is a shoe store that has locations in over 60 countries around the world. Even though it has a massive reach, the company is still having financial problems. In May of 2018, Rockport declared bankruptcy, and Charlesbank Capital Partners came in to buy the brand, in hopes of turning it around. After all, a company with a global reach is surely valuable, right? However, Charlesbank Capital Partners is spread very thin. They are buying up failing businesses in a variety of fields. For example, they bought a chain of pizza shops…So what makes us think they know how to sell shoes? Perhaps they are hoping to wait out the tail-end of the recession in hopes that Rockport will make a comeback.<\/p>\n

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Francesca’s is a cute boutique for women. Credit: Shutterstock<\/figcaption><\/figure>\n

27. Francesca’s <\/span><\/h2>\n

Francesca’s is a popular retail chain that feels like you are walking into a really well-curated boutique. Usually, the items come in small quantities, which gives customer a sense that they should buy the item right away, in case it might not be there next time. However, creating an experience like this is bad during a time when retail foot traffic is down across the board. In 2018, the company lost between 6 and 10% of its sales in every single quarter. Not even the holiday season could pull it out of its funk. Nothing has been officially announced, but Retail Dive<\/a> gives them a Fisk Score of 1, which means it is in danger of a future bankruptcy.<\/p>\n

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Eddie Bauer is an outdoor clothing store. Credit: Shutterstock<\/figcaption><\/figure>\n

26. Eddie Bauer<\/span><\/h2>\n

Both Pac Sun and Eddie Bauer were struggling, so financiers decided to bring the two companies together to create a new company called PSEB Group. If they can manage to fix all of the issues that brought them on the verge of collapse to begin with, maybe they can push past the hard times. However, as long as things keep doing the same way, Eddie Bauer will shut down for good.<\/p>\n

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Brookstone closed all of its mall locations. Credit: Shutterstock<\/figcaption><\/figure>\n

25. Brookstone<\/span><\/h2>\n

For years, Brookstone has been that place with over-priced gadgets that you really don’t need, but they are cool to give as gifts. In an economic recession, these are the first kinds of things people will let go of, in favor of paying for necessities. In 2018, Brookstone announced that it was bankrupt, and they were going to close down all of their 101 mall locations. The company will continue to remain open in their airport locations, which has done far better to attract their ideal customers. They will also try to expand their online presence.<\/p>\n

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Destination Maternity clothing store. Credit: Shutterstock<\/figcaption><\/figure>\n

24. Destination Maternity<\/span><\/h2>\n

When women become pregnant, they need a whole new wardrobe to help their ever-changing bodies. For years, Destination Maternity was one of those go-to places for women to get new outfits. However, its high prices were enough to send women looking at more affordable options like Target and Walmart, or begin shopping online. From 2018 to 2019, Destination Maternity shut down 120 stores amidst plummeting sales figures. This obviously does not look good in the eyes of investors, who have begun to sell their stock in the company. Over the past year, the stock price dropped a whopping 35%. In June of 2019, CEO Marla Ryan stepped down from her position, after the backlash of declining sales.<\/p>\n

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GNC vitamin shop.Credit: Shutterstock<\/figcaption><\/figure>\n

23. GNC<\/span><\/h2>\n

GNC was once a popular vitamin supplement company. For years, it was one of the only stores where you could go to find certain types of vitamins and workout supplements that were not sold in your local pharmacy. But since the creation of Amazon.com and remodels in stores like Target, many people are now buying their supplements online, and retailers are offering a wider range of supplements. In 2017, GNC’s overall value dropped by 3.4%. They also carry over a billion dollars in debt. They claim to have a good business partnership going on in China so they may begin to sell shares of their company overseas. In 2018 they reported that 40% of GNC now belongs to a Chinese company called Harbin Pharmaceutical Group, after they put up a $300 million investment. It may just be a matter of time before GNC is bought out by Harbin, and it may be shut down for good.<\/span><\/p>\n

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Ann Taylor LOFT clothing. Credit: Shutterstock<\/figcaption><\/figure>\n

22. Ann Taylor LOFT<\/span><\/h2>\n

Oh, no! Say it aint so! Ann Taylor LOFT is a favorite among women who are looking for clothing that can help them look professional in the workplace. Unfortunately, the parent company, Ascena Retail Group has been struggling financailly. They are in charge of loads of famous brands like Ann Taylor, Dress Barn, LOFT, and Lou & Grey. We already mentioned on this list that the company decided to shut down all of their Dressbarn locations, because it was one of the weakest brands. However, if the parent company cannot get their finances straight, it just may drag down the rest of their beautiful brands, like LOFT.<\/span><\/p>\n

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The Southeastern Grocers corporation is in the midst of shutting down several stores. Credit: Shutterstock<\/figcaption><\/figure>\n

21. Southeastern Grocers<\/span><\/h2>\n

Southeastern Grocers owns a chain of grocery stores, including Winn Dixie, Bi-Lo, and Harveys. In February of 2019, they shut down 22 locations. Keep in mind, this comes right after shutting down 94 underperforming stores in 2018. If this trend continues, they may be trying to faze out all of their locations every year before they disappear completely. So, if you have any special item that you can only find in these grocery stores, you may want to stock up before it’s too late.<\/span><\/p>\n

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Z-Gallerie has beautiful interiors. Credit: Z-Gallerie.com<\/figcaption><\/figure>\n

20. Z Gallerie<\/span><\/h2>\n

As far as interior design stores go, Z Galleries is one of the most luxurious places you could ever shop. They had 76 stores total, mostly located in wealthy areas like Los Angeles and New York. But in 2019, it was announced that they had to restructure their debt during a bankruptcy, and close down 17 locations. Even some of the most rich and famous people in the world are trying to be frugal nowadays. And if you know anything about the interior design world, Rustic Farmhouse (Like the TV show “Fixer Upper”) is very in right now. So it’s the polar opposite of the luxe decor you can find at Z Gallerie. There is a chance that the era of fancy decor is over. However, they just might be able to bounce back.<\/p>\n

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Barnes and Noble is great, but sales are declining. Credit: Shutterstock<\/figcaption><\/figure>\n

19. Barnes & Noble<\/span><\/h2>\n

After the creation of eBooks, Kindles, and iPads, any people speculated that some day ,that would be the death of books. Borders shut down for good, and many small independent book stores struggled to stay alive. Even through all of these changes, Barnes and Noble managed to stay alive. This is most likely because they offer more than just books. They also have a Starbucks, and a great atmosphere to sit and study for a while. However, their luck seems to have caught up with them. In 2019, sales dropped 4%, and they lost millions of dollars in venue. The company has had to make $50 million in budget cuts over the past year in order to stay afloat. Hopefully, they can push through this rough patch, but changes may be coming for the company.<\/p>\n

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Credit: Wikimedia Commons<\/figcaption><\/figure>\n

18. 99 Cents Only<\/span><\/h2>\n

Despite the fact that the name of the store is “99 Cents Only”, it’s actually not…It is a grocery store that boasts low prices. Pro tip: Don’t lie about your name! Dollar Tree is the actual store where everything is a dollar. So, right away, people walking into this store are going to be disappointed to know that it was a bit of false advertising. Sales have been dropping, and experts say that the odds of them declaring bankruptcy in the next year are at 50%.<\/p>\n

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Bebe sells women’s clothing. Credit: Wikimedia Commons<\/figcaption><\/figure>\n

17. Bebe<\/span><\/h2>\n

In the early 2000’s, Bebe was a very popular place to buy women’s clothing for going to an office job. In 2018, the store’s sales plummeted nearly 30%, and they just barely avoided filing for bankruptcy. The day was saved when B. Riley Financial Inc bought a huge stake in the company, and brought them back in good financial standing. Now, only time will tell if Riley’s investment will pay off in the long run.<\/p>\n

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Things Remembered gift shop. Credit: Shutterstock<\/figcaption><\/figure>\n

16. <\/span>Things Remembered<\/span><\/h2>\n

You (or your mom) may remember Things Remembered, which was filled with gifts, music boxes, and basically all of the trinkets you can find in a Hallmark store to buy your grandma. Things Remembered that it needed to file for Chapter 11 bankruptcy in 2019. Then, Enesco LLC decided to make an offer to buy the brand. Enesco is famous for their “Precious Moments” figurines, as well as dozens of other trinkets along the lines of what is sold in Things Remembered. So there is a chance they they may recover, after all.<\/p>\n

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15. Vitamin Shoppe<\/span><\/h2>\n

Similar to the issues going on with GNC, The Vitamin Shoppe is also struggling to pay their bills. With the growing popularity of Amazon.com, and the increasing availability of vitamin supplements in places like CVS and Rite Aid, it would seem that there may not be a very good reason why anyone should go to Vitamin Shoppe anymore. However they were smart enough to start an online store much sooner than GNC. Because of this, they are actually on a better financial footing. However, even well into 2019, they continue to close down dozens of stores. <\/span><\/p>\n

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Fredy’s Pharmacy might be in trouble. Credit: FredsMeds.com<\/figcaption><\/figure>\n

14. Fred’s Pharmacy<\/span><\/h2>\n

Fred’s Pharmacy is not nearly as popular as Rite Aid or CVS. When there are too many options out there, the odds of a retail chain failing get higher, especially after a recession. In 2019, they announced that they will be closing down 159 locations across the United States. Unfortunately for the people who were having their prescriptions filled there, they will now have to find somewhere else to get their medicine.<\/p>\n

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Charlotte Russe is shutting down their stores. Credit: Shutterstock<\/figcaption><\/figure>\n

13. Charlotte Russe<\/span><\/h2>\n

In February of 2019, Charlotte Russe shut down 94 stores, and filed for chapter 11 bankruptcy. According to CheatSheet, they are $90 million in debt. Considering that all of their stores are located in malls, and that America is in the middle of a crisis where malls are being abandoned left and right, they may not be able to recover, even after trying to refinance their debts.<\/p>\n

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Neiman Marcus has been around for over 100 years. Credit: Shutterstock<\/figcaption><\/figure>\n

12. Neiman Marcus<\/span><\/h2>\n

The luxury department store Neiman Marcus has been around since 1907, so they are a grand that has lasted for over 100 years. They were even around during The Great Depression! This is why it is actually shocking that The Cheet Sheet announced that they believe Neiman Marcus will go bankrupt in 2019. It turns out that the company is $4.8 billion in debt, and they have reported declining sales consistently every quarter since 2017. There is a chance that this is just a rough patch. The company is great at knowing how to pivot. They opened up a website called Neiman Marcus Last Call, where you can get designer goods at up to 70% off. They are also merging with AliPay and other innovative leaders in retail. Maybe they can get out of their financial trouble, or maybe not.<\/p>\n

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Gump’s was in business for 157 years. Credit: Wikimedia Commons<\/figcaption><\/figure>\n

11. Gump’s Holdings<\/span><\/h2>\n

After an impressive 157 years in business, Gump’s Holdings announced that they would begin liquidating their stores, because they planned to close down all of their locations. The company originated in San Francisco selling luxury home furnishings. Over the years, many celebrities would go to Gump’s as soon as they arrived in the city. They expanded to a catalogue called Gump’s By Mail, and had an online store as well. But all good things must come to an end. The Great Recession was truly so bad, it brought a 157-year old company to its knees.<\/p>\n

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Tops Market closed 8 of their stores. Credit: Phuket.Net<\/figcaption><\/figure>\n

10. Tops Market<\/span><\/h2>\n

During the Great Recession, the only businesses who seemed to flourish were places like dollar stores and discount grocers like Aldi’s. However, if a store was too overpriced, people began to shop elsewhere. In 2018, Tops Market announced that they were closing 8 locations in New York State that were under-performing. In 2019, there were no additional closings, but no re-openings, either. This is an example of a company that just may do okay, so long as they remain small. Or, if they continue to lose their customer base, the numbers might continue to decline.<\/p>\n

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A’gaci was a clothing retailer. Credit: Shutterstock<\/figcaption><\/figure>\n

9. A’gaci<\/span><\/h2>\n

In July of 2018, clothing retailer A’gaci announced that they were going to commit bankruptcy and liquidate all of their products. It has been nearly a year since then. As their brick-and-mortar stores shut down, the have been trying to liquidate their inventory online. Even their website<\/a> says “Going, going, gone!” If you are in the market for some dresses to wear to the club, check them out, because you might actually get some great deals.<\/p>\n

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National Stores are shutting down 184 locations. Credit: Fallasstores<\/figcaption><\/figure>\n

8. National Stores<\/span><\/h2>\n

Fallas, Conway and Anna’s Linens are all owned by a corporation called National Stores. In October of 2018, it was announced that there would be 184 locations shutting down, out of their total 344. There is a chance that the retailer may be able to make a comeback, but with the way these things typically pan out, it just might get worse in the next couple years.<\/span><\/p>\n

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The Walking Company is a retail chain that sells footwear. Credit: Footwear News<\/figcaption><\/figure>\n

7. The Walking Company<\/span><\/h2>\n

The Walking Company has filed for bankruptcy twice within the past 10 years. They closed down 23 locations in 2018. In 2019, they are trying to recover the business, and move forward with the brand. However, considering the fact that they keep struggling, it is possible that they might run into issues again in the near future, especially if retail in general continues to go downhill.<\/p>\n

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Bed Bath and Beyond is struggling financially. Credit: Shutterstock<\/figcaption><\/figure>\n

6. Bed Bath and Beyond<\/span><\/h2>\n

So many people love shopping at Bed Bath and Beyond, to the point where their 20% off coupons were made into a comedy bit on the TV show Broad City. However, even though the business seems to be doing well, there is actually a lot of terrible accounting going on behind the scenes. In 2018, it was revealed that their CEO pays himself $15 million a year, and the finances were being totally mismanaged. This caused their stock price to drop, because investors were not too happy. For a while, people assumed that this was the beginning of the end for Bed Bath and Beyond. However, in 2019, they seem to be in recovery. We’ll see how long that lasts.<\/p>\n

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Kiko Cosmetics is dying. Credit: KikoCosmetics.com<\/figcaption><\/figure>\n

5. Kiko USA<\/span><\/h2>\n

Nowadays, cosmetic brands are doing extremely well, but apparently, Kiko Milano can’t seem to keep up with competitors. In 2018, they announced their bankruptcy, and began the process of closing all of their retail locations. Today, you can still purchase their products online. However, with all of the other huge trendy brands out there like Kylie Cosmetics and Jeffree Star, it’s hard to imagine Kiko’s website surviving. The vast majority of Millennials are looking to beauty gurus and influencers for advice, so if Kiko cannot stay in the good graces of the “it” girls, it will most likely fizzle out forever. <\/span><\/p>\n

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It’s no secret that Toys R Us is gone for good. Credit: Shutterstock<\/figcaption><\/figure>\n

4. Toys R Us<\/span><\/h2>\n

For parents out there, you already know that Toys R Us was struggling with their $5 billion in debt before they filed for bankruptcy in 2017, and announced that it is closing its stores forever. Many locations began to shut down and liquidate their stock of children’s products. Their inventory and real estate was sold in order to service their debt, but it was probably not enough to make up for the billions that they owed. In 2019, the company announced that they are trying to pick up the pieces and become a new corporation called Tru Kids Inc.<\/a><\/p>\n

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Johnson & Johnson baby products. Credit: Shutterstock<\/figcaption><\/figure>\n

3. Imerys Talc America Inc.<\/span><\/h2>\n

You might not have heard of Imerys Talc America Inc, but you surely know one of its most famous brands, Johnson & Johnson. It is famous for being a go-to baby powder for parents everywhere. Unfortunately, the company has come under fire with a number of different lawsuits claiming that their talc powder leads to lung cancer. Similar to asbestos, talc apparently stays in your lungs forever if you breathe it in. Since everyone is suing the pants off of the company, they are understandably losing money and their good reputation. Stocks dropped dramatically, and they had to declare bankruptcy in 2019.<\/span><\/p>\n

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Apparently, there are far too many mattress stores in the United States. Credit: Shutterstock<\/figcaption><\/figure>\n

2. Innovative Mattress Solutions<\/span><\/h2>\n

Just like Mattress Firm, the company called Innovative Mattress Solutions is yet another company where you might ask, “Why so many mattress stores?” In January of 2019, Innovative Mattress Solutions filed for chapter 11 bankruptcy. They own several mattress stores across the US. In the near future, you just may have fewer options on where to buy your mattresses…As if it was ever a huge problem before?<\/p>\n

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Ride Aid is shutting down hundreds of stores. Credit: Shutterstock<\/figcaption><\/figure>\n

1. Rite Aid<\/span><\/h2>\n

Oh, no! Not Rite Aid! According to Retail Dive<\/a>, Rite Aid received a “Frisk Score” of 1. This means that they are in danger of committing bankruptcy. Back in 2017, Rite Aid attempted to merge with their competitor Walgreens. In 2018, they lost over $352 million in revenue. The company was doing so poorly, it is on the borderline of being removed from the New York Stock Exchange. If this happened, then the value of the company would most likely continue to take a nose dive. In March of 2019, they cut 400 jobs. Walgreens announced that 600 of the Rite Aid stores they purchased would be shut down for good.<\/p>\n\n","protected":false},"excerpt":{"rendered":"

Over ten years after the Great Recession, things do not seem to be getting any better. Bankruptcies hit an all-time high in 2018. Many brick-and-mortar stores have closed down for good in favor of online shopping. Going into 2019, there doesn’t seem to be any end to the bankruptcies any time soon. So, which businesses […]<\/p>\n","protected":false},"author":23,"featured_media":14932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104],"tags":[304,300,306,302],"class_list":["post-13970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bankruptcy","tag-retail","tag-shopping","tag-stores"],"lang":"en","translations":{"en":13970},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/posts\/13970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/comments?post=13970"}],"version-history":[{"count":19,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/posts\/13970\/revisions"}],"predecessor-version":[{"id":39245,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/posts\/13970\/revisions\/39245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/media\/14932"}],"wp:attachment":[{"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/media?parent=13970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/categories?post=13970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.moneyppl.com\/wp-json\/wp\/v2\/tags?post=13970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}