In all, the department store chain—which filed for bankruptcy protection last month—is closing nine locations in Indiana.
J.C. Penney files for bankruptcy, plans to close some stores
The 118-year-old retailer was struggling long before the public health crisis forced it to temporarily shutter all of its stores.Read More
Discount retailer with 8 central Indiana stores files for bankruptcy, seeks buyer
Store closures due to the coronavirus crisis undermined the department store chain’s parent company and its ability to get financing to continue operations.Read More
Macy’s to close 125 stores, shed 2,000 corporate jobs
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one-fifth of Macy’s current total. They include about 30 that are in the process of closing and account […]Read More
More than 7,600 stores closed this year through October, a record for that point in the year, according to Credit Suisse. And the outlook for 2020 doesn’t look any brighter.
The moves mark the most dramatic evidence of how resale is becoming so mainstream that traditional sellers can no longer ignore it.
Kohl’s has been testing Amazon returns at 100 stores for nearly two years and sees the service as a way to get people in its doors and potentially buy something while they’re there.
The retailer’s profit tumbled nearly 70 percent and revenue slid 8 percent in the fourth quarter, the most crucial period of the year for retailers who bank on a surge in holiday sales.
The approval means roughly 425 stores and 45,000 jobs will be preserved, at least for now.
With a bid of more than $5 billion, Eddie Lampert has won a bankruptcy auction for Sears with a plan that will keep the retailer in business and seek to save tens of thousands of jobs.
Stage Stores Inc., a Houston-based retailer that operates nearly 800 stores nationwide, plans to close six Goody’s stores in central Indiana next month and replace them with Gordmans stores in March.
Sears Holdings Corp., the struggling U.S. retailer owned by hedge fund manager Eddie Lampert, is focused on a deal that would preserve stakeholders’ value in a court restructuring, according to a person with knowledge of the matter.
Merrillville-based CSC Generation Holdings Inc., which acquired Bon-Ton’s intellectual property in bankruptcy court, said Indiana was not part of its initial plan to reopen stores.
The latest closure list includes 13 Kmart stores and 33 Sears stores, including one in Indiana.
The Castleton Square store is among three in Indiana that the struggling retailer included on its latest closure list.
The announced departure of Marvin Ellison on Tuesday sent shares of the struggling department store chain tumbling to an all-time intraday low.
With customers in a mood to spend, particularly on clothing, Macy's surpassed all profit and revenue expectations for the first quarter of the year and raised its outlook.
Edward Lampert is pushing for a more aggressive breakup of Sears Holdings Corp. as the hedge-fund manager aims to salvage what’s left of the struggling retailer and stave off a potential bankruptcy filing.
City officials say they hope to act quickly with Simon Property Group Inc. to determine the highest and best use for the Carson’s space at Circle Centre after the department store closes this spring.