, representing about half of its total store count, as it struggles to stay afloat after years of falling sales.
The closings could affect thousands of workers. Pier 1 had about 950 stores and roughly 4,000 employees at the time of the announcement. The company also said it planned to cut its corporate head count and shut down some distribution centers.New York & Co. parent company RTW Retailwinds filed for bankruptcy in July and said it planned to close most, "if not all," of its stores. The company operated 378 stores at the time of the bankruptcy. GameStop said in March that it closed 333 stores in fiscal 2019 and opened 12 new stores.
In 2020, the company said it expects store closures "to be equal to or more than the 320 net closures we saw in fiscal 2019 on a global basis. "Signet Jewelers runs more than 3,000 stores under the following banners: Kay Jewelers, Zales, Jared, H.Samuel, Ernest Jones, Peoples, and Piercing Pagoda.in June that it plans to immediately close 150 US stores and 80 UK stores, and that it will close at least another 150 stores before the end of the year.
Business Insider estimates about 300 US store closings based on this announcement, and will update this figure when the company provides further information.
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How so sad !
OUCH.
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