Category: Clothes Shop

Bankruptcy cases, store closings pile up for business wear retailers

by Jaimee Heimer on August 10, 2020 in Clothes Shop

Consumers are scared to go out and retailers are floundering. Is there a future for the traditional indoor shopping mall?

Wochit

Dressing up is being dressed down – and that’s bad news for retailers that specialize in traditional office clothes.

After years of business attire becoming increasingly casual, the sudden transition to working from home for millions of Americans has undermined retailers that sell dress clothes.

Men’s Wearhouse, Jos. A. Bank, Brooks Brothers, Lord & Taylor, Ann Taylor, Loft and Neiman Marcus are among the retailers whose parent companies have entered Chapter 11 bankruptcy in recent weeks, having experienced

Shoppers rush to the High Street as England stores reopen

by Jaimee Heimer on August 9, 2020 in Clothes Shop

Media captionShoppers in England rush back to the High Street

Demand across England’s High Streets, retail parks and shopping centres surged on Monday as some shops reopened after a three-month lockdown.

Research firm Springboard said that by 17:00, footfall was 38.8% higher than last week, as pent-up demand led to reports of long queues.

However, shopper numbers were generally far below the same time last year.

But at Bicester Village, near Oxford, crowding was so great that 3,000 people signed a petition to close it.

All shops in England are now allowed

Is It Safe to Shop? Americans Wary of Stores During Covid Crisis

by Jaimee Heimer on August 6, 2020 in Clothes Shop

Many malls, like this one in Tucson, Arizona, have reopened, but shoppers still aren’t showing up. Americans are hesitant to go back to stores, according to a recent survey, in what could be a long-term shift in behavior.

Photographer: Cheney Orr/Bloomberg

As the U.S. reopens, Americans aren’t much interested in going out and spending.

A survey of 2,200 U.S. adults shows how Covid-19 has dramatically changed behavior in the world’s biggest economy, potentially for the long haul. The data flashes warning signs for the recovery, showing waning interest in public events and material things, like appliances and

Lord & Taylor Files for Bankruptcy as Retail Collapses Pile Up

by Jaimee Heimer on August 6, 2020 in Clothes Shop

Lord & Taylor, the floundering department store company that traces its roots to 1826, on Sunday became the latest retailer to file for bankruptcy protection as the coronavirus outbreak accelerates the demise of chains that were already teetering.

The chain was acquired last year by the clothing rental start-up Le Tote in an unusual $100 million deal. Now Le Tote and Lord & Taylor are both seeking Chapter 11 protection from their creditors in the U.S. Bankruptcy Court for the Eastern District of Virginia.

The companies said in a filing on Sunday that they operated 38 locations, which had been

Stores closing include Frye Company and Lord & Taylor in 2020

by Jaimee Heimer on August 5, 2020 in Clothes Shop

Retailers have confirmed at least 6,000 US store closings for 2020.
Men’s Wearhouse, Lord & Taylor, Microsoft, GNC, JCPenney, Victoria’s Secret, Nordstrom, and Sears are among the retailers that are planning to close stores this year.
Visit Business Insider’s homepage for more stories.

Retailers are expected to close more than 6,000 stores this year, following record-high rates of closings last year.

More than 9,300 store closings were announced in the US in 2019, smashing the previous record of roughly 8,000 store closures in 2017, according to an analysis by Business Insider.

The number of store closings this year could be