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Rolling Down the...Many retailers are still muddling along in a tough economy. Expect another year of store closings amid tepid growth. These 10 are making significant cuts; some are closing up shop altogether. Sources: about.com, published reports
The discount women’s apparel chain is shutting down, upon completion of the sale of parent Charming Shoppes to Ascena Retail Group. Charming Shoppes had already closed over 100 Fashion Bug locations in 2011. Ascnea will concentrate on improving Charming Shoppes' other properties, Lane Bryant and Catherines.
Its parent company Dish Network, which bought Blockbuster out of bankruptcy, continues the downsizing by cutting a third of the remaining locations. Don't count on the remaining 1,000 stores to last long, either.
This generally healthy company is getting rid of some excess capacity. Closings will phase in through 2015, as the company escapes unprofitable mall locations in the U.S. while expanding overseas.
The company continues shuttering Sears and KMart locales amid poor sales. Chairman Eddie Lampert has sold off a lot of his best real estate, as the company slowly but surely fades away. Expect strong brands like Craftsman and Kenmore to survive at other places.
This parent of Wolf Camera is liquidating after failing to find a buyer. C&A Marketing purchased the Ritz website and a few big stores, which it plans to keep open.
More than three years of losses had the West Coast, surf-oriented retailer downsizing beginning in 2011. Sales forecasts continue to be modest in the competitive teen apparel market.
Gap sits on plenty of cash, but a multi-year downsizing plan continues with 100 more stores. U.S. cutbacks were expected to total 700 stores between 2007 and 2013, and coincide with expansion into Asia.