Question

Please list the brick and mortar storefront that closed international wide in recent two years, explain why is this happenning ? please comment on this phenomena.

Answer 1

ANSWER:

As indicated by Coresight Research the retailers who reported terminations in 2019 are as per following:

1) Hole Inc.- intending to close 230 stores

2) Victoria's Secret-intending to close 53 stores .

3) Abercrombie and Fitch-intending to shut down 40 stores and petitioned for brankruptcy.

4) Tesla-intending to move its whole deals on the web and close the greater part of its stores accordingly.

5)Charlotte Russe-it is selling and shutting the entirety of its stores .

6) Payless ShoeSource-declared financial insolvency and began the way toward closing each of the 2500 of its stores across North America.

7) Gymboree-declared financial insolvency and close 800 stores

8) Family Dollar-intending to shut down 390 stores

9) Chico's-it will close between 60 to 80 stores in 2019 and 250 stores in next three years

10)J.C. Penney-plan to shut down 18 departmental stores and there will be extra terminations to come in 2020 and past.

Reasons of this conclusion

1)Online rivalry increment .

2) The decay of shopping centers .

3) Private-Equity Debt .

4)Retail organizations have decided how well they did during the extremely significant Christmas shopping season .

5) Unforeseen deferrals from its providers result into retailers need to offer items to its clients on substantial limits.

References-

Official site of CNBC .

Article-"Why retail organizations are shutting down stores " by Barbara Farfan on 5 August, 2019 .

Coresight Research.

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