A spokesperson for Starbucks Canada has confirmed to Dished that the company will be closing up to 300 stores across the nation by the end of March as part of its next phase of store transformation. By the end of February 2021, the company will close 43 store locations. Office supply retailer Office Depot said it will close up to 90 stores by 2021 as it focuses its attention on business-to-business services. Aéropostale. Walmart is shutting down 269 stores as the company tries to cut costs and focus on e-commerce. Bench: A source confirmed this week that all Bench stores in Canada will be closing as part of a Notice of Intention to file by Montreal-based Freemark Apparel Brands. GNC, which has been selling nutrition and diet products since 1935, is slimming down in a big way. A full list of stores have not been released, however, we do expect a few Winnipeg stores will be part of the closure. Save my name, email, and website in this browser for the next time I comment. Between sudden growth spurts and tantrums over trying on outfits, buying clothes for kids isn't always easy—and it's about to get a whole lot harder, now that a beloved children's clothing brand may be closing a store near you. Craig Patterson, Editor-In-Chief and Founder of Retail Insider, described the trend in store closures as “catastrophic”. Future malls will have to be smaller and more specific to the local population. The equally huge former downtown Eaton’s store, another retail giant which once controlled 60 per cent of retail in Canada was demolished in 2003 after the chain declared bankruptcy in 1999 and assets bought by giant competitor Sears. Canada's Most-Read Online Retail Industry Publication. Macy's store closings 2021:36 Macy's, 1 Bloomingdale's to liquidate with most closing in spring. The luxury chocolatier says 128 brick and mortar locations, including 11 in Canada, will shut by the end of March. All non-essential retail stores, including hardware stores, alcohol retailers and those offering curbside pickup or delivery, will be forced to close by 8 p.m. Bed Bath & Beyond stores closing list. Walmart closings. Godiva to close 128 stores in North America, including 11 in Canada by end of March COVID-19 has been far from sweet for Godiva, which has decided to sell or close its stores across North America. No part of any of the content of this website may be reproduced, distributed, modified, framed, cached, adapted or linked to, or made available in any form by any photographic, electronic, digital, mechanical, photostat, microfilm, xerography or other means, or incorporated into or used in any information storage and retrieval system, electronic or mechanical, without the prior written permission of Retail Insider Media Ltd. or the applicable third party copyright owner. Some will be household name retailers. The unforeseen shutdowns brought our economy to a standstill, and many already struggling industries cripplied under the pressure. ), some of our favorite stores will unfortunately be shutting their doors for good. Shopping online has greatly expanded. “Retailers will feel more significant hardship by the end of the year. State Message From The Father of Nation; About Us. ... January 22, 2021, 11:09 pm. In late October, company officials said the 200 stores are expected to close by the end of the 2021 fiscal year. The retailer also says it will begin rolling out an internet-based home-delivery service starting in December. WEBSITE. Our customers are using less office supplies, they’re shopping less often in our stores and more online Every retailer who had high debt before all of this started is closing some stores and cutting back on new projects. TORONTO - More than 130 Naturalizer stores in the United States and Canada will be closed by early 2021 as Caleres Inc. adopts a digital sales strategy for the shoe chain. Staples closing up to 225 stores in Canada and U.S. as it bleeds customers to mass-market rivals Back to video Staples has 1,846 stores in the United States and Canada. The brand helped create the “fast fashion” trend, but it wasn’t enough. A full list of stores have not been released, however, we do expect a few Winnipeg stores will be part of the closure. If you think it’s bad now for the retail sector in Canada, you ain’t seen nothing yet — just wait until early 2021. Retail Insider analysis of the international retailers that have entered Canada over the past 12 months as the industry looks to an uncertain future. While some stores are closing, 26 new locations will also open this year, meaning there will still be just over 1,700 Bath & Body Works locations across the U.S. and Canada. Get the complete list of Macy's stores closing in 2021, along with information about the department store chain's three-year plan to close 125 locations in total. The survey said 62 percent of small businesses are fully open; 37 percent are fully staffed; and only 26 percent are making normal sales. Retailers and consumers alike will have to adapt one way or the other. Private Equity will not bother with retail it is a hands off this sector. Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by Covid-19. By Khristopher J. Brooks January 6, 2021 / 7:22 AM / MoneyWatch Retail giant Macy's announces massive cuts . Hudson’s Bay announced it will close the operation in February 2021. BREAKING: Hudson's Bay has made the decision to temporarily close all its stores, effective immediately. The year's closures include Zara, Macy's, and Men's Wearhouse. This is not a temporary situation it will continue now for years to come. Find out which stores could be closing near you. There are fears that if left vacant it will become an eyesore. Faced with stingy consumers, fading government subsidies and in some cases mounting deferred rent due, liabilities will exceed assets and they will enter CCAA (protection from creditors) and in many cases liquidate. Number of store closings: 120 stores between fiscal 2015 and 2017. Store closing would be over the next two years and have started in some areas. “Although we are in the thick of the transformation of the consumer real estate and the retail industry, we are still in the birth canal of this process and will be well into 2021. I think we’re going to see a substantial amount of store closures in Canada — probably the most we’ve seen in our lifetimes in such a short period of time.”. The publication tracks filings and one editor says that they expect an increase in filings in early 2021 following rent payment demands from landlords. For those that were caught with outdated business models, weak balance sheets, less than exciting brands, short-term investors or near-sighted landlords the holiday will be their swan song,” said Bruce Winder, author of RETAIL Before, During & After COVID-19 and President of Bruce Winder Retail. The home improvement store said in a press release the locations are underperforming. Luxury chocolate brand Godiva is closing all of its stores in Canada Toronto has a new source for gourmet rice pudding delivery 16-year-old Toronto … Michael Kehoe, Broker/Owner of Fairfield Commercial Real Estate in Calgary and a veteran of the industry, said retail is always changing and evolving, and we have seen 10 years of change in the past seven months in this time of accelerated disruption. I was told that most retailers in this country have taken on a bit of a restructuring in some form. This is just the latest indication of a vast change in retail which has seen many closings and even bankruptcies of once giant chains. In bankruptcy court filings, Ascena disclosed that 10 Ann Taylor stores, 28 Ann Taylor Factory stores, nine LOFT stores, 21 LOFT Outlet stores, and eight Lou & Grey stores will close. ... owned brands" will launch in 2021. Sears itself declared bankrupt in 2018. Dillard's operates at 10 of the malls where Macy's is closing stores in early 2021, excluding Paradise Valley Mall in Phoenix, where both chains are closing their stores ahead of … Over 50% of department stores in malls predicted to close by 2021, real estate services firm says. The original plan was released in 2020 which was to close up to 200 of its locations in Canada over two years. They will exist in a different form come the new year. Chico’s has announced that it will be closing up to 250 stores in 2020. Already Macy's closed 30 stores last year as part of the three-year plan. A spokesperson for Starbucks Canada has confirmed to Dished that the company will be closing up to 300 stores across the nation by the end of March as part of its next phase of store transformation. Macy's is closing dozens of stores this year. On opening day an estimated 50,000 people visited the exciting new retail operation and restaurant. COVID-19 has been far from sweet for Godiva, which has decided to sell or close its stores across North America. The entrepreneurs believe Canada has the potential to become a fashion powerhouse and reclaim Canadian fashion from international influences. They will regroup for holiday 2021 which will be a better time to be a retailer.” Winder said Amazon will be Canada’s new holiday store and that it will … Godiva closing 128 stores in North America, including all 11 in Canada Posted January 24th, 2021 by Brahm Canzer & filed under Part 1 Business in a Global Environment , Part 3 Management: Empowering People to Achieve Business Objectives , Part 4: Marketing Management , Part 6 Managing Financial Resources . Hudson’s Bay announced it will close the operation in February 2021. 2021. Building owners and their lenders will adapt and governments will need to get out of the way so as not to impede or delay the transformation of retail properties as they enter a new era to better serve the consumers in the markets where they are situated. The projects are part of RioCan's plans to intensify commercial assets through redevelopments.