On August 2, Le Tote, Inc. and certain of its subsidiaries including Lord & Taylor, filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company will simultaneously solicit bids for a going concern sale of both its Le Tote and Lord + Taylor businesses, and conduct targeted store closing sales.
A Coresight Research Insight Report asserts that major retailers in the U.S. have announced 7,567 store closures so far this year compared with 5,524 stores all of last year, but it isn’t all bad news.
With rumors of a possible bankruptcy filing swirling, hhgregg has announced plans to shrink its store count as part of its turnaround efforts.
With Macy’s sales and earnings continuing to decline over the last few quarters, the department store retailer said it would close 100 stores and boost e-commerce and other omnichannel and strategic initiatives to reinforce its performance.
Sears Holdings will close 68 Kmart and 10 Sears stores this summer as the retailer continues to look for ways…
In its update on the fourth quarter, Sears Holdings Corp. said it expects comparable store sales at its namesake stores…
To optimize the omnichannel approach taken to its retail business, Macy’s plans to close 35 to 40 underperforming stores in…
Target Corporation announced that it will close 11 locations as of February 1, 2015, a decision made after careful consideration…
More than 100 stores operated by Sears Holdings will be closing in the weeks ahead, according to a report on…
As part of its turnaround effort, J.C. Penney Co., Inc. announced that it would close 33 under-performing stores across the…