The Retail Industry Has Been Devastating. The Top 10 Retailers In The United States Will Be Closed.

Many chain stores are likely to fail this year, and even if they are over, many of them will be smaller than before.

There are many reasons leading to this shop trend, including the rise of the electricity supplier, the drop in store traffic and the emergence of various emerging trends, but the main reason is that the brand has not adapted to the market changes.

So far, shopping malls, shopping centers and other retail outlets are going through a gloomy period. The following are the retail brands that will continue to experience wave of shops in 2017.

1, J.C.Penney

Although J.C.Penney's business is improving gradually, the store decided to close more stores.

J.C.Penney said in late February that it will close 130-140 stores in the coming months.

Its chief executive, MarvinEllison, is trying to portray the move as a positive step towards bringing the company back from the brink of collapse.

He said in a press release: "we believe that closing stores will enable us to adjust our business and compete more effectively with the growing electricity supplier.

In addition, retaining the most iconic JCPenney stores is essential. We will achieve seamless extension of the full channel experience through online order delivery, delivery and return service on the same day.

2, Sears

Sears holding company, which owns two brands of Sears and Kmart, has been shutting down its stores quickly.

There was a rumor in 2016 that the company would turn off the entire Kmart chain, but that didn't happen.

However, in January 2017, the struggling retailer planned to close 150 nonprofit stores, including 108Kmart and 42 Sears stores.

These figures are likely to increase in the middle of 2017 as Sears has been making every effort to save cash.

3, BCBGMaxAzria

U.S.A

Retailer BCBGMazAzria filed bankruptcy protection in the near future, reporting assets between $100 million and $500 million, and liabilities ranging from $500 million to $1 billion.

BCBG has about 570 stores around the world. The company plans to reduce the size of the retail entity, but has not yet announced the final total number of closed stores. It has announced that 120 stores will be closed before bankruptcy, but there may be more closures.

The fashion company is committed to financing up to US $45 million of debtor's assets (DIP) to remain open during the restructuring process.

4, Messi department store

Although many retailers are better than this list, Macy's has been closing down unprofitable stores, as well as those in marginal areas and failing to improve their business conditions. Messi

It plans to close 100 stores in August 2016, and the list has increased by 68 since January 2017.

It is worth noting that with the closure of stores, Messi plans to open two new brands of the same brand this year.

It also plans to add 30 beauty retailers Bluemercury and 30 Macy'sBackstage discounts to Messi stores.

In 2018 and beyond,

It also plans to expand its brand Bloomingdale with partners.

5, AmericanApparel

AmericanApparel, once the main shopping center in the United States, is facing declining sales in recent years.

In a bankruptcy auction, AmericanApparel was sold to Canada's GildanActivewear, and GildanActivewear soon released plans to close its remaining retail stores.

At its peak, AmericanApparel has 230 brand clothing stores that are mainly "made in America", but some of them have been closed before.

At the time of bankruptcy application, AmericanApparel also owns 110 remaining US stores, and new buyers will close the stores after dumping inventory.

6, hhgregg

Hhgregg, the chain of electronic products, decided to close its 88 stores and 3 distribution centers as part of its bankruptcy protection plan just submitted.

Hhgregg is expected to regenerate from bankruptcy in about 60 days, and it has already obtained the funds needed for restructuring from no public source.

RobertJ.Riesbeck, chief executive of Hhgregg, said: "in the past 12 months, we have made great efforts.

We evaluated several alternatives and concluded that reorganization through filing for bankruptcy protection is the best way to maintain long-term success for hhgregg.

Hhgregg will have 132 stores left after the closing of the store.

When these stores are closed, about 1500 people will lose their jobs. The plan is expected to take place in mid April.

7, Abercrombie&Fitch

The other is struggling.

It is Abercrombie&Fitch, which plans to close about 60 stores in the fiscal year 2017, which will vary from time to time, because the company plans to close stores when the lease expires.

In addition to the closed shop plan, Abercrombie&Fitch plans to open 6 full price stores in fiscal year 2017, of which 4 are in the US and 2 in the international market. The company also plans to open two new outlets.

According to its fourth quarter earnings report in 2016, the company operates about 900 stores in North America, Europe, Asia and the Middle East.

8, WetSeal

WetSeal filed for bankruptcy protection in February and plans to close the remaining 170 stores.

Since then, the brand's remaining assets have been bought by its Canadian competitor, GordonBrothers, but the paction still needs court approval.

However, it is possible for WetSeal to open some new stores under the management of its new owners.

"For WetSeal, our plan is to rebuild and relocate the brand and develop a unique new business model to prepare for future success," said RamezToubassy, head of brand division at GordonBrothers.

Although this is not a clear statement, it does leave a ray of hope for WetSeal.

9, Crocs

Crocs, famous for making comfortable rubber shoes, has decided to reduce the number of its physical stores.

In its fourth quarter earnings report, Crocs said it plans to close 160 retail outlets by the end of 2018 and leave about 400 retail outlets.

This is part of the overall plan to cut spending.

Chief executive GreggRibatt said: "in order to speed up the improvement of profitability, we have determined the annual SG&A (sales management expenses) reduction of 7500 to 85 million dollars.

We expect that the annual income before tax deduction will increase by 3000 to 35 million dollars by 2019.

Looking forward to the future, I believe these measures will pave the way for new growth and enhance the interests of shareholders. "

According to reports, TheLimited began closing all 250 retail stores in January, which is expected to cause 4000 people to lose their jobs.

TheLimited, a private equity supporter in SunCapital, said in a statement: "we are very disappointed that the challenges of retail sales and women's clothing are growing. We have to make a tough decision to close retail stores."

Shortly after announcing the closure of retail stores and selling inventory, TheLimited also closed its e-commerce website.

A statement on the website said that the closure of the website was "temporary", but admitted that the company had applied for bankruptcy protection.

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