Unless you have been hiding under a rock.. or a man.. or a WOman, you should have noticed loads of talk in the news about what we love to call "The Mall Apocalypse". This is the rise of retail closings amid bankruptcies and falling sales. We are 3 months into the year and over a handful of retailers are reporting that they will be closing the doors to many or all of their retail locations.
After some posts that left us at the Doll House nervous about the fate of one of our beloved Lingerie retailers, Victoria Secrets of L Brands, they are closing 53 of their stores. Insiders tell us that although sales are down a bit for the brand, the 53 closures are only in stores that were already in process of being closed. Many of these locations are in malls that are closing.
Charlotte Russe Website
According to USA Today, Charlotte Russe store closings are in motion and liquidation has began. We couldn't believe the news, so we decided to checkout the website for ourselves and there it is: The E commerce site is closed and GOING OUT OF BUSINESS sales posts have began. The news comes after a long battle with finances. But the brand leaders say that there are talks about negotiations with Buyers for the Intellectual Property of the company. Revamp of the company coming? Guess we will have to wait and see.
These brands arent the only ones closing their doors this year. Check this list of store closures.
-Victoria Secrets 53
-Charlotte Russe ALL STORES
-Henri Bendel 23
-J.C. Penny 27
-Children's Place 109
-Family Dollar 390
So what's the tea? Why are all of these brands closing their doors? Many of them are the real reason we go to malls to begin with. So whats happening? Although retailers like Amazon are outpacing physical retailers with their online presence and models, it still doesn't match the overall experience and benefits of a physical presence. As retailers scramble to revamp and improve their e-commerce sites, retailers like Amazon are now working a stronger physical presence.