Store closures news and archive

Over 20,000 UK stores could remain permanently closed after lockdown, experts warn

As many as 20,620 UK stores could never reopen and 235,714 retail jobs could be lost after the country’s Covid-19 lockdown is lifted, experts say. On Monday evening, prime minister Boris Johnson ordered the closure of all ‘non-essential’ stores, including fashion and electrical stores, in a bid to curb the growth of the coronavirus pandemic. But...

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These are the companies downsizing or filing for bankruptcy in 2019

These are hard times for brick and mortar retail. While consumers still like to shop in brick and mortar stores, many retailers have been struggling to stay afloat due to dropping footfall in shopping malls and competition with online retailers. Here’s a recap of the fashion businesses which announced downsizing plans or filed for bankruptcy...

Retail

Laura Ashley to close all Australian stores this month

British clothing and homeware brand Laura Ashley is set to close all of its Australian stores by the end of the year following a failed buyer hunt by administrators, according to the Sydney Morning Herald. The news comes in the same week that Laura Ashley announced it would be closing some 40 of its UK stores and shifting its focus to the...

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Michael Kors to shutter 100-125 stores after bleak FY18 forecast

London - Michael Kors is set to close between 100 and 125 full-price stores over the next two years following a bleak full-year forecast for fiscal 2018. The US premium label announced its impending store closure on Wednesday morning amid disappointing financial results for the fiscal fourth quarter and fiscal year ended April 1, 2017. Shares in...