Partly Cloudy 61°
Tag:

Consumer Habits

Business
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…

SHARE

by Chris Spiker
Business
Dollar General Closing 140+ Stores, Profits Drop As Retailers Struggle Nationwide Dollar General Closing 140+ Stores, Profits Drop As Retailers Struggle Nationwide
Dollar General Closing 140+ Stores, Profits Drop As Retailers Struggle Nationwide Dollar General will close more than 140 stores after a sharp drop in profits, marking a shift in strategy as the discount retailer faces rising costs and changing consumer habits. Dollar General will shut down at least 96 Dollar General locations and 45 pOpshelf stores in 2025, the company said in a news release on Thursday, Mar. 13. There are about 20,434 Dollar General stores and 231 pOpshelf locations, according to data company ScrapeHero. Another six pOpshelf stores will be converted into Dollar General locations. "As we look to build on the substantial progress we made …

SHARE

by Chris Spiker
Business
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
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…

SHARE

by Joe Lombardi