More than 3,500 stores could be closed within the year, in what some experts are coining the “retail apocalypse.”
Major retailers across the country have taken a hit as consumers shift their spending habits in the age of e-commerce. Several have filed bankruptcy, closing all brick-and-mortar stores, including Bebe and The Limited.
The effects has impacted Ohio shopping centers and malls, leaving some retail space vacant after closures. Here’s the list of retail stores that have announced closures:
• 500 to 1,000 stores: PAYLESS — The Kansas-based retailer is discussing restructuring plans that would include closing stores. It could also close file for bankruptcy.
• 552 stores: RADIO SHACK — General Wireless Operations, the parent company of RadioShack, is in the process of restructuring the electronics retail company. This is the second time in two years that RadioShack has filed bankruptcy.
• 250 stores: THE LIMITED — The parent company of women’s clothing store The Limited has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Court, and the store website has been taken offline.
• 240 stores: FAMILY CHRISTIAN — Christian faith-based gift and book store chain Family Christian announced it’s closing all of its 240 stores nationwide, including four locations in the area.
• 170 stores: BEBE — The women’s clothing retailer has filed for bankruptcy and closed all store locations.
• 160 stores: CROCS
• 150 stores: GAMESTOP — GameStop, a video game and consumer electronics…