Clothing retailers, shoe stores, department stores and more are among the chains closing locations this year in Maryland.
MARYLAND — Brick and mortar retailers in Maryland continue to announce closings in 2019 with some citing poor holiday 2018 sales figures and others blaming debt loads for the shutdowns. We're less than three months into the year, and already several big-name retailers have announced their plans to shutter dozens of Maryland locations.
Chains closing up shop include clothing retailers, shoe stores, department stores and more.
The bleak outlook for many chain retailers isn't new — in 2018 dozens of chains closed stores, including, most notably, Toys R Us and Sears.
Coresight Research, which tracks store closures, says so far in 2019, retailers in the United States have announced 4,287 closings.
Here's a look at the chains with Maryland locations that have either closed in 2019 or have announced plans to do so:
Children's clothing retailer Gymboree filed for Chapter 11 bankruptcy in January. Under the bankruptcy plan, the retail chain will close more than 800 Gymboree and Crazy 8 stores. The company is working to save its 140 upscale Janie and Jack stores. READ MORE.
Payless ShoeSource plans to close all of its U.S. stores as part of a bankruptcy filing. The closings would affect about 2,300 U.S. stores. The company is preparing for going-out-of-business sales at the locations. Maryland locations include Harford Mall and White Marsh Mall. READ MORE.
Nearly 400 Family Dollar stores will close nationwide this year, while another 200 will be converted to Dollar Tree, which purchased the rival chain in 2015. There are about 90 Family Dollar stores in Maryland; which ones will close has not yet been released. Other Family Dollars will keep their name will be stocked with $1 Dollar Tree merchandise and alcohol sections. READ MORE.
JCPenney announced in February it will close 15 department stores and nine home and furniture stores this year in addition to three store closures announced in January. The JCPenney location at Lake Forest Mall in Gaithersburg is one of the stores targeted for closure. The stores that will be shuttered "either require significant capital, are minimally cash-flow positive...or represent a real estate monetization opportunity," the retailer said in a statement. READ MORE.
Victoria's Secret will shutter 53 underperforming stores in North America this year, the owner of the lingerie chain said. L Brands Inc., which also owns the more successful Bath & Body Works chain, made the announcement as it reported disappointing holiday season sales. Specific locations have not been made public yet by the company. READ MORE.
Only a month after filing for bankruptcy, the women's clothing company Charlotte Russe has decided to shutter all of its stores and is reportedly in talks to sell its intellectual property. The company said it is partnering with a buyer who has expressed interest in keeping physical "brick and mortar" stores. Stores marked for closing including one at the Columbia mall, Wheaton Mall, and White Marsh Mall. READ MORE.
The gasping retail giant is trying to "streamline" operations, improve its capital position and focus on the most successful stores, according to Sears Holdings. Multiple Sears and Kmart stores have closed in the past two years. Under the current restructuring, it appears 10 Sears stores will remain in the state of Maryland by April 2019, along with six Kmart stores. READ MORE.