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Saturday, dec 21
Tag:
Store closure
Business
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
Big Lots has announced plans to close all of its remaining 963 stores, initiating "going out of business" sales following its Chapter 11 bankruptcy filing in September. The company says it's started the process of closing stores in 48 states and liquidating inventory under its court-supervised Chapter 11 bankruptcy proceedings. The decision comes as the retailer seeks to maximize value for stakeholders while exploring potential going-concern sale opportunities. "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots' President and Chie…
Business
Advance Auto Parts To Close Over 700 Stores
A nationwide auto parts retailers says it will close over 700 stores as part of “a strategic plan to improve business performance.” Advance Auto Parts, which has about 4,800 total stores, and locations in almost every state, made the announcement on Thursday, Nov. 14. The affected outlets will close by May 2025 and are made up of 523 corporate stores, and 204 independently owned locations. In addition, four distribution centers will also close. Specific locations to be closed have not yet been announced. In announcing the move, President and Chief Executive Officer Shane O’Kelly said…
Business
Walgreens To Close 1,200 Stores
Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition. About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced. Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period. Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens s…
Business
7-Eleven To Close Hundreds Of Stores
Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…
Business
Big Lots To Close Pair Of NY Stores
Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…
Business
Friendly's In Palmer Closed After 62 Years In Business
Friendly's, the ice cream and restaurant chain and a mainstay on North Main Street in Palmer, has closed its doors for good. The restaurant abruptly shut down the store on Monday, June 19, leaving a sign on the front window that reads, "This restaurant has permanently closed. THANK YOU for your patronage." It directed anyone in Palmer in the mood for a Fribble to the next closest Friendly's in Springfield. The Palmer location opened in 1961, according to reports. A spokesperson for the company could not be reached, and it's unclear how many employees lost thei…
Business
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers
Nearly one thousand CVS stores are set to close over the next three years as the retail giant continues to pivot away from retail and leans into the company's healthcare services. On Thursday, Nov. 18, the company announced that it planned to shut down at least 300 stores annually for the next three years as it re-evaluates its business strategy. The closures will begin in spring 2022. CVS made the announcement as it continues to contend with digital competition and online shopping, which was exacerbated during the COVID-19 pandemic, forcing the company to pivot its plans for the future. …
Business
Godiva Chocolate Closing All US Stores - Including 5 In Massachusetts
Godiva chocolates is closing all of its North American stores. The mass closure will affect 128 stores in the U.S. and Canada - including 5 in Massachusetts and 3 in Connecticut. Outposts in Europe, the Middle East, and China will remain open. Godiva will stay open through Valentine’s Day, but closures will be completed by March, according to CT Post and other media sources. The news comes as a new Godiva CEO steps in, Nurtac Ziyal Afridi, who was appointed in mid-December 2020. Godiva said, in a press release, that its business has been shifting from in-store purchases to online o…
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