Retail Collapse: Here Are 2018's 57 Biggest Store Closings

Closed storefronts are typical in American cities across shopping malls that once flourished in commercial zones of suburbia are now empty and abandoned.

As the retail apocalypse deepens, more than 3,800 stores are expected to close across the country this year. Department stores like Kmart, Macy’s, Sears, and JCPenney, and retailers including Best Buy, Payless, BCBG, Abercrombie & Fitch, and Bebe have decided to close dozens of locations.

A new report by real estate research firm Reis noticed that shopping malls had not been this empty since 2012, CNBC reported. The vacancy rate at regional and super-regional malls in the U.S. reached 8.6 percent in the second quarter of 2018, up from 8.4 percent in the prior quarter.

The increased vacancy rate is simultaneously occurring while online retailing giant Amazon continues to acquire a more significant share of the consumption pie.

According to Reis, the vacancy rate of malls could significantly jump over the next several years. Even Credit Suisse believes 25 percent of shopping malls will shut their doors by 2022.

As shoppers move online and mall traffic declines, NJ Advance Media has provided a complete and  startling list of the 57 biggest retail chains shuttering storefronts as of recent:

Abercrombie & Fitch

In March 2018, Abercrombie & Fitch announced it would close up to 60 more stores amid struggling sales and other closures in 2016 and 2017. The company has not announced if any of the New Jersey locations will close, and so far they’ve all stayed in business. Currently there are stores in Atlantic City, Bridgewater, Cherry Hill, Deptford, Eatontown, Edison, Elizabeth, Freehold, Paramus, Rockaway, Short Hills and Wayne.

Aeropostale

The retailer filed for bankruptcy in the spring of 2016, but in the fall of 2016 was acquired by a group of mall owners for $243 million. The sale was expected to save about 230 of Aeropostale’s 800 stores, according to Fortune. More than 100 stores were set to close after the bankruptcy filing, but the N.J. stores, so far, have never been on the chopping block.

Aerosoles

Edison-based women’s footwear chain Aerosoles has filed for Chapter 11 bankruptcy and will close a “significant” number of stores, the company said in a September statement. While the company didn’t disclose how many or which of its 88 locations will be shuttered, it said it will maintain four flagship stores in New Jersey and New York, and continue to sell online.

American Apparel

The clothing brand filed for bankruptcy in 2016 and closed all stores, but its trademark was bought by Gildan Activewear. The company just recently opened its first brick-and-mortar store in L.A. after an online relaunch.

American Eagle

The teen apparel retailer announced in 2017 that 25 to 40 stores across the country would close, but so far its 20 New Jersey stores and outlets have remained open.

Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Catherines, Maurices

In the summer of 2018, Ascena Retail Group — which owns the brands Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Catherines andMaurices — announced plans to close 25 percent of retail stores (about 250 locations) by the end of 2019 and an “additional 400 or so stores … through landlord negotiations during the same period,” according to RetailDive.com.

The Banana Republic & The Gap

In September 2017, Gap Inc. announced it would close 200 Gap and Banana Republic stores over the subsequent three years. The company, however, said that it plans to open 270 new locations for Old Navy and Athleta. No N.J. closures have been announced.

Barnes & Noble

The book giant said in 2013 that it would close a third of its retail stores by 2023. These days, B&N has struggled to sell its Nook device and just abruptly fired its CEO. Several New York stores have shuttered; all of the New Jersey locations but one (North Brunswick) have survived so far.

BCBG Max Azria

The clothing retailer filed for bankruptcy in February 2017 and will close more than 100 stores across the country. About a dozen N.J. locations, including some in Lord & Taylor and Bloomingdale’s department stores, have remained open.

Bebe 

The women’s clothing retailer shut down all its U.S. stores in 2017 amid struggling sales, but continues to sell online at bebe.com.

Best Buy

In March 2018, Best Buy announced plans to shut down it’s small mobile phone kiosks, though no closures of the main stores have been announced.

Bon-Ton 

Bon-Ton, which operates 250 locations nationwide, announced in April that it will liquidate all U.S. stores after a bid for the company’s assets was accepted in bankruptcy proceedings. The department store has two N.J. locations, in Brick (80 Brick Plaza) and Phillipsburg (1200 Highway 22 East), both of which are still currently open.

Brookstone 

In August 2018, Brookstone — the mall staple known for its tech gadgets and massage chairs — announced plans to close its 101 mall stores, including seven locations in New Jersey, after filing for bankruptcy.

Charming Charlie

The beauty and accessories chain filed for bankruptcy in December 2017 and plans to close 100 stores. No word yet on the fate of the seven N.J. locations.

Chico’s

Chico’s, which also owns White House Black Market and Soma, said it would cut 240 jobs and close 120 stores, though which stores will close has not been announced. This year, the company announced “a collaboration with Amazon.com that will see a selection of Chico’s brand products go on offer on the e-commerce platform,” according to fashionnetwork.com.

The Children’s Place

In March 2017, the Secaucus-based chain announced plans to close 300 stores by the end of 2020, upping the number from a previous plan of closing 200 stores by 2017. No word yet on which, if any, of the 43 New Jersey locations are slated to shut their doors.

Claire’s

In March 2018, the teen jewelry and accessories brand announced it would close 92 stores as it files of bankruptcy, including N.J. stores in Voorhees, Livingston, Jersey City, Hackensack, Rockaway, Edison and Toms River.

Crocs

In 2017, Crocs said it will close 160 stores due to falling revenues. The shoe retailer has four locations in New Jersey — in Atlantic City, Blackwood, Elizabeth and Tinton Falls — but those stores have survived the closures so far.

CVS Pharmacy

CVS will close 70 stores to save $265 million, but the chain has not announced the location of the closures. In December 2017, CVS announced it had completed an acquisition of Target’s pharmacy and clinic businesses for $1.9 billion.

Finish Line

The shoe and athletic-apparel retailer will close 150 stores by 2020. In January 2016, the company blamed issues and losses on a new warehouse management system it had introduced, which, according to a report by the Wall Street Journal, caused order-processing issues, leading to millions in lost sales. Finish Line has not announced which, if any, of its 33 N.J. locations are closing.

Foot Locker

In March 2018, the shoe chain announced it would close 110 stores (after closing 147 in 2017), but it also plans to open 94 new locations this year, according to Business Insider.

GameStop

After slumping sales, GameStop in March 2017 announced plans to close between 150 and 225 locations. Which stores will be closed has not yet been revealed.

GNC

In April 2018, the vitamin and wellness chain announced plans to close 200 stores this year. No word yet on which stores will close.

Guess

In a March 2017 earnings call, Guess’ CEO announced 60 stores would close and that more could be shuttered in 2018. The retailer has not announced which, if any, of its New Jersey locations, will close.

Gymboree

Faced with a June 2017 interest payment on its more than $1 billion in debt, children’s clothing chain Gymboree filed for bankruptcy and announced plans to close up to 450 stores. The retailer has a dozen locations in New Jersey, but no specific store closures have been announced.

hhgregg

In March 2017, the appliance and electronics chain announced it will close more than 100 stores across the country. Its three N.J. locations, in Moorestown, Mays Landing and Deptford at Woodbury, have since closed.

JCPenney

JCPenney closed its locations at Rio Grande Plaza in Middle Township and at Garden State Plaza in Paramus as part of a larger plan to shutter 138 stores across the country. The department store has 13 other locations in New Jersey.

Jos A. Bank/Men’s Wearhouse

The parent company of the men’s suit chains, Tailored Brands, is on track to close 250 stores. The closures include 80 to 90 Jos. A. Bank stores and 58 outlet stores, according to Fortune, though which stores will close next hasn’t been announced.

Kmart

Kmart, which is part of Sears Holdings, will also close stores in New Jersey. The company will close 42 stores across the country, including seven here: Clementon, Clifton, East Brunswick, Pleasantville, Mantua, Manahawkin and Rio Grande.

The Limited

The women’s clothing chain closed all 250 of its locations, including New Jersey stores, in January. The chain is continuing to sell online.

Lord & Taylor

The department store will close “up to 10 stores” through 2019, including its Fifth Avenue location, “in order to better balance the brand’s brick and mortar presence with its online channels and increase profitability,” a spokeswoman told NJ Advance Media. Lord & Taylor has not announced which stores will close.

Macy’s

Macy’s announced it will close 68 stores across the country, cutting 10,000 jobs, after disappointing holiday sales. Three N.J. locations have closed, in Moorestown, Voorhees and Wayne.

Mattress Firm

The mattress retailer announced it would close 274 stores, but open about 75 new stores. No word on the fate of the more than 100 N.J. Mattress Firm locations.

Michael Kors

The namesake retailer of the “Project Runway” judge, Michael Kors closed 125 stores in 2017. Michael Kors has New Jersey locations in Edison, Freehold, Lawrenceville, Bridgewater, Elizabeth, Short Hills, Jersey City, Flemington, Wayne, Rockaway, Cherry Hill, Deptford, Blackwood, Atlantic City and Paramus that have so far remained open.

Nine West

The shoe retailer filed for bankruptcy in April 2018 and announced it would close all 70 of its retail stores. Nine West still sells shoes online.

Office Depot 

Office Depot has continued to shrink nationwide. In a 2016 report by the Consumerist, the office supply chain said it expects to close 300 more stores by 2019 to help cut annual costs by $250 million. The fate of the chain’s remaining N.J. stores is uncertain.

Payless

Payless announced that it would close stores in New Jersey as part of the company’s plan to shutter 400 locations across the country after filing for bankruptcy in 2017. The New Jersey locations that will close are: Loews Shopping Center, East Rutherford; Marlton Crossing, Marlton section of Evesham; Mid State Mall, East Brunswick; Phillipsburg Mall, Phillipsburg; Bloomfield Avenue, Bloomfield; Acme Plaza, Cape May Court House section of Middle Township and Marlboro Plaza, Marlboro.

Perfumania

In August 2017, the discount perfume retailer said it would close 64 of its 226 stores during bankruptcy filings. There are six Perfumania stores open in N.J.; a Woodbridge location has closed.

RadioShack 

RadioShack closed more than 1,000 stores across the country over the past two years, including all locations in New Jersey, but just announced a partnership with HobbyTown to open express store-within-a-store locations, according to CNN Money.

rue21

Four New Jersey locations of teen clothing retailer rue21 were among 400 across the country that closed as the company filed for bankruptcy. Stores in the Livingston Mall in Livingston, the Ocean County Mall in Toms River, Jersey Shore Premium Outlets in Tinton Falls and Hamilton Mall in Mays Landing have closed, while stores in the Cumberland Mall in Vineland, Cross Key Commons in Turnersville, Moorestown Mall and Audubon Crossings remain open.

Sam’s Club 

In January, Walmart announced it would close 63 Sam’s Club locations, and immediately closed N.J. locations in Budd Lake, Princeton andLinden. There are seven Sam’s Club stores left in the state.

Sears

In May 2018, Sears announced it will close another 62 stores across the country. In New Jersey, only the Vineland, Ocean and Burlington Sears locations have closed, but the location in Lawrenceville will close in September.

Staples

In 2017, the office supplies chain announced plans to close 70 stores. Staples has about 75 locations in New Jersey. The company has not said if any of the N.J. stores will close.

Teavana 

Starbucks has closed all 379 of its Teavana stores. There were 11 Teavana stores in New Jersey.

Toys R Us

Toys R Us kids all over mourned the loss of the toy retailer, which closed all stores in 2018.

True Religion

Jeans retailer True Religion has filed for Chapter 11 bankruptcy and will close 27 of its 140 stores as the company restructures. Only one New Jersey store has closed so far — the location at Garden State Plaza in Paramus.

Vitamin World

In 2017, the vitamin chain said it would close 124 stores. The only N.J. location that has closed was the one in the Phillipsburg Mall. Moorestown Mall, Woodbridge Mall, Bridgewater Mall and Jersey Gardens Mall (Elizabeth) stores have remained open.

Walmart 

In early 2016, Walmart announced plans to close 154 stores, but so far has only closed one of their 70 N.J. stores; the location in Readington closed in Feb. 2018.

Wet Seal 

The teen clothing chain declared bankruptcy and began closing stores in 2015. In 2017, the company closed all of its remaining stores across the country, including N.J. locations in Freehold Raceway Mall and Monmouth Mall.

Comments

wee-weed up Son of Loki Fri, 08/10/2018 - 19:36 Permalink

The reason for all the stores closing, even though the economy is doing well?

For the past decade or so everybody and his brother has been determined to bring their idea/product to market.

This has resulted in much over-saturation in the retail sector. And you'll notice many are mall-related retails. Hey, folks... malls are dying!

And then you will always have some of the old firms who haven't kept up with the times finally biting the dust.

Simply put, some of these firms going out of business is healthy for the whole economy. Blame it on Darwin. Survival of the fittest. Do not go into business if you don't have a well-thought out business plan and the funds to back it up.

In reply to by Son of Loki

mkkby wee-weed up Sat, 08/11/2018 - 00:00 Permalink

ZIRP allowed lots of mal investment (pun intended).  The cheap money allowed stores to expand in locations that never would have penciled out under normal conditions.  Now the experiment is over and only wreckage is left.

Hopefully starbucks will close 90 percent of stores.  Hate seeing that homeless toilet stop on every corner.

In reply to by wee-weed up

TeethVillage88s Handful of Dust Fri, 08/10/2018 - 19:34 Permalink

Pisst... Bill Clinton or H.W. Bush sold Reagan Airport to Prince MBS prior to 911... and Prince MBS closed Reagan Airport after 911 to get his status enhanced, his intel ticket punched, make his power felt, and to rise in status and have his name known broadly... power...  MBS ruled Reagan Airport with full power after 911.

- $35.5 Trillion US assets owned by foreigners today... sign of wealth transfer... MBS, Saudi Prince who rules today, is the deep state, a global deep state power.

In reply to by Handful of Dust

factorypreset Handful of Dust Fri, 08/10/2018 - 21:26 Permalink

Bush Sr, Clinton, and Bush Jr has as much to do with offshoring of jobs to China as Obama.  Our "leaders" (both political and corporate) knew more than 30 years ago what China's plans were and they sold the average American down the river so they could reap the rewards.  Obama certainly did nothing to help the situation but he wasnt any more to blame than those who came before him .

In reply to by Handful of Dust

Endgame Napoleon factorypreset Sat, 08/11/2018 - 15:56 Permalink

It ramped up with Clinton. He made the original decision to give China MFN status and signed NAFTA, with hardly any on either side of the Uniparty resisting. It is not just China. Do not forget about all the jobs offshored (or nearshored) to Latin American countries, as illegals poured over our border, taking the jobs left here in the USA and working for beans. They undercut citizens in the labor market due to welfare-financed bills for their instant-citizen kids. It enables them to accept low pay. At this point, we are so intertwined with all of these countries around the globe. The least that elected .gov job holders at $174k could do is to preserve the jobs left here in the USA for underemployed, welfare-ineligible citizens. 

In reply to by factorypreset

Let it Go Skateboarder Fri, 08/10/2018 - 19:00 Permalink

As for Amazon, it abused retailers with the help of our own Postal service. Many people do not know it but a retailer in China can ship something to you at a fraction of the cost the store across town pays. This is not fair! Also note, what Amazon pays to ship via the USPS does not appear on the Amazon shipping label!

The President has told Postmaster General Megan Brennan to raise the charges Amazon and other firms pay to ship packages. This is a debate America must have! The rates Amazon has brokered are coming at a great cost to both brick and mortar stores as well as to other shippers using the system.

When you consider the USPS has had to purchase special equipment to deliver packages for Amazon and is also expanded to delivering Amazon packages on Sunday it is not difficult to reach the conclusion the system is broken or USPS is simply in cahoots with Amazon and willing to sell out rest of American businesses for a few dollars in revenue. More on this subject and its far-reaching implications in the article below.

http://Amazon Exploits Break From USPS - Very Unfair!.html

In reply to by Skateboarder

GoozieCharlie CatInTheHat Sat, 08/11/2018 - 00:49 Permalink

The last 10 times I visited brick & mortar I couldn't even find what I was looking for; and even worse, the people working there were the stupidest people I have ever encountered in 60 years.  Totally clueless morons!

Much wider choice of products, lower prices (often, no sales tax), informative, full descriptions at Amazon.  Why go anywhere else?

In reply to by CatInTheHat

Kidbuck CatInTheHat Sat, 08/11/2018 - 06:51 Permalink

When I am employed I value my time at at least $50 per hour. If I include the time getting washed and dressed to go out and the gas, wear and tear on the car, few shopping trips are worth my time. Couple that with the fact that so many trips end in frustration because no one stocks just what I was looking for then online shopping makes a lot of sense.

In reply to by CatInTheHat

dot.dot Skateboarder Fri, 08/10/2018 - 20:41 Permalink

Was at our local mall for the first time in yrs after dinner a couple evenings ago to do some skoo shopping with my youngest daughter.  The place was absolutely infested w/ dindu's.  Funny thing is she understood whole-heartedly why we needed to be back in the car before dark.  Didn't even ask why.

Half the 'customers' were shiftless darkies with attitudes and 80% of the other half, mexican & fat tatoo'd white trash.  Our society is in worse shambles than the retailers.  Scary.

In reply to by Skateboarder

dot.dot falconflight Fri, 08/10/2018 - 22:05 Permalink

Dayton Mall.  Every 7 yrs or so a new mall is built and the old one left to the nigs.  This pattern keeps repeating.  Each new mall is not reachable by bus and the nigs bitch and the developers push back and eventually lose the battle and then a new mall is built for whitey which has no RTA service.  This mall is old and ceded to vibrancy some time ago.

The negro menace/ negro fatigue is responsible for urban sprawl.  While they hate us, they always have to follow us to destroy the newest thing built solely to avoid their dysfunction.

In reply to by falconflight

GoozieCharlie dot.dot Sat, 08/11/2018 - 01:03 Permalink

They are clearly "installing" negroes everywhere.  And I ain't talking classy ones either.Detroit's s been knee deep in suburbs for 50 years, but nowadays...try to find a home not snapped up for outrageously high price FIFTY MILES from the city!

The newest "escape" for those now retired is extreme NW Lower Michigan.  300 miles away!  And guess what is tailing right behind...you guessed it.  Nignogs. And even worse, pregnant hunter gatherer's daughters (with pants hanging down to their eschutcheon)  towing around 2 yr old mulattos!  In Petoskey!

Shit.  I nearly chimped out!

Used to be you only spotted nigs up there at the exit ramp Burger Kings.  Now,they're fucking everywhere.

In reply to by dot.dot

Kidbuck dot.dot Sat, 08/11/2018 - 07:01 Permalink

Urban sprawl

The bitch is that school bussing and section 8 are responsible for much of that and you are paying for both. The menace is real. My wife was beaten up right in the middle of the Roseville mall in Minnesota. The mall's response: It was just a gang initiation rite for Chicago  blacks drawn to Minnesota by the great welfare benefits. 

In reply to by dot.dot

hannah Skateboarder Fri, 08/10/2018 - 21:55 Permalink

'As shoppers move online and mall traffic declines...'

 

bullshit shoppers are not spending on online or brick/mortor because they are broke. the msm keeps playing a game inwhich 'the economy' is great and has the same spending just shifted around. horsecrap. spending is down. none of the companies is actually making a profit.they live off cheap fed money.............

In reply to by Skateboarder

JIMSJOE2 Skateboarder Sat, 08/11/2018 - 06:26 Permalink

There are many reasons for the closures. One of these is that many of these large chains have been taken over by private equity firms who then skim the cash and use for other investments instead of re-investing in the chains. They eventually get to the point of layoffs and take on massive debt which is also used for other investments. They eventually file for bankruptcy and let the creditors fight over scraps.

     Another reason is ongoing higher costs like property taxes which is passed on as higher rents. Then higher insurance costs, utilities, subsidized health care, etc. etc etc all passed on then in the form of products costing more. This has an effect on all sized businesses.

     Still another factor is that consumers have changed their driving habits and shop closer to home. I have not been to a mall in over 10 years as there are 7 strip centers all in walking distance. There is Wal-Mart, Stables, Target, Home Depot, Sam's,  grocery stores, restaurants, fast food, physicians, dentists, specialty shops, health stores, work out centers, auto parts and repair,  etc, etc, etc. Why spend the money for gas fighting traffic and taking up my time when I can simply walk. The same with going downtown to shop. Why bother! Behind these strip centers are huge subdivisions with homes, condos and apartments that guarantee a steady flow of customers.

In reply to by Skateboarder

lincolnsteffens WorkingClassMan Fri, 08/10/2018 - 19:23 Permalink

I'm in the art and antiques trade at a fairly expensive level plus in a summer tourist area for 45 years. This is the slowest I have ever experienced. Almost no one coming in. Most of my inventory is at prices last seen in the mid 1980's and my colleagues are saying similar things. Only a few on line inquiries from two websites in three months.

Remarkably I made a sale today. It was a very heavy item and I was not capable of helping to move it. I called local movers I sometimes use and got an answering machine message that they were CLOSED, as in permanently. I told the client to go to the nursery next door and see if you could hire some guys with a hand truck at nearly closing time. A few minutes later the client returned with 3 guys to take a look at what was needed. After closing the guys came back with a fork lift on a front end loader and a big balled tree moving dolly.

Only two small sales in July and now two decent sales in August which is usually the busiest month in the summer.

In reply to by WorkingClassMan

Skateboarder TeethVillage88s Fri, 08/10/2018 - 18:52 Permalink

Before the new "bro," bros were preps, and us normies never liked 'em. They were very easily identifiable with their A&F and Hollister shirts. Now everybody's a bro, but the line between normie and prep still remains.

After all, if your dad's buying you some bangin' new shoes every week, and you have your all-nice-parts skateboard and you can't even kickflip, all the while I'm shoe-gooing my shit together until it's mostly just shoe-goo and little actual shoe left... yeah... we're not gonna be on the same page.

Fvck A&F and Hollister.

In reply to by TeethVillage88s