That sound you hear? It’s the closing of doors all across the country as more and more chain stores turn off the lights and lock up for the last time. More than 9,000 stores shut down in 2019, a significant increase from the 5,800 that shuttered in 2018, according to Coresight Research. So far in 2020, about 1,200 locations have joined the ranks of “Sorry, we’re closed” retailers. Check out some of the major retailers closing stores in 2020, starting with the largest number of closures.
1. Pier 1 Imports | Stores closing in 2020: 450
At least 70 Pier 1 locations closed in 2019; the chain announced at the beginning of 2020 that nearly half of its 936 stores would shut down. According to CEO Robert Riesbeck, “Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision.” All three Pier 1 stores operating in Alaska are on the chopping block, so any Alaskans looking to snag a warm throw will need to shop online.
2. Chico’s | Stores closing in 2020: Up to 250
Chico’s is shifting gears away from traditional stores, which spells the end for 250 U.S. locations by early 2022. Many stores have already closed. Chico’s has partnered with Amazon, ShopRunner, and QVC to accommodate its 8 million customers’ changing needs and shopping behaviors.
3. Gap | Stores closing in 2020: Up to 230
In late January 2020, Gap announced that it had closed 89 stores so far (including 56 in the U.S.) and is looking to close about 230 by February of 2021. On its way to closing about half of its stores, the company made the decision after a 2018 holiday season during which Gap’s sales shrank by 5 percent. Robert Fisher, Gap’s interim CEO, says the closures will breathe new life into the 50-year-old iconic brand.
4. Papyrus | Stores closing in 2020: 178
Upscale stationery and greeting card retailer Papyrus might be receiving a card or two saying “Sorry to see you go.” Shurman Retail, the chain’s 70-year-old parent company, filed for bankruptcy in January of 2020 and announced the closure of all its stores.
5. A.C. Moore | Stores closing in 2020: More than 145
A.C. Moore is, well, no more. The retailer, found primarily east of the Mississippi, will be shutting down in 2020. “Unfortunately, given the headwinds facing many retailers in today’s environment, it made it very difficult for us to operate and compete on a national level,” said A.C. Moore’s CEO Anthony Piperno.