The ‘retail apocalypse’ continues: 13 major chains that went out of business in 2020
Updated Jan 03, 2021;
Posted Jan 03, 2021
Stein Mark on the Carlisle Pike is closing. The company had filed for bankruptcy earlier this month. (Megan Lavey-Heaton/PennLive.com)
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For brick-and-mortar retailers, 2020 has been more of the same “retail apocalypse,” just at a faster pace.
Over the past decade we’ve seen stores were once mainstays in Pennsylvania Bon-Ton, HH Gregg and Toys R’ Us close. For a number of struggling retailers the pandemic just brought on the inevitable faster.
There are 13 retailers on our list below that have closed all of their stores or are in the process of doing so. In addition to these 13, Microsoft closed all of its stores as well.
Ascena completes sale of 4 retail chains businessnorth.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessnorth.com Daily Mail and Mail on Sunday newspapers.
December 28, 2020
MAHWAH, N.J. December 23, 2020 ascena retail group inc. and certain of its subsidiaries today announced that it has completed the sale of the Ann Taylor, LOFT, Lou & Grey, and Lane Bryant brands to Premium Apparel LLC, an affiliate of Sycamore Partners. Premium Apparel has committed to retaining a substantial portion of the retail stores, associates, and corporate operations affiliated with these brands.
“We are pleased to have completed this transaction, which secures a path for the long-term success of Ann Taylor, LOFT, Lou & Grey, and Lane Bryant,” said Gary Muto, CEO. “We have worked diligently to maximize the value of our brands, and we are confident they will thrive under Sycamore’s ownership.”
ascena retail group Completes Sale of Ann Taylor, LOFT, Lou & Grey and Lane Bryant to Sycamore Partners globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.