This year has been a tough one for retailers. Stores that have been around as long we can remember have shut their doors due to lack of sales. As previously mentioned, the decline in department store purchases has led to the demise of many businesses. With so many people preferring to shop online, there’s less need for malls. This has vastly changed the overall retail landscape. Instead of wading through the crowds at department stores, people are able to shop without the hassle on their phones while traveling on a bus or passing time in a waiting room. According to Global News, millennials are teaching the older generation how to use these new technological advances. “Speeding up the learning process when it comes to new shopping venues is the rise of the millennial generation and the fact that four out of 10 young people, these days, are still living with their parents,” noted Kruh.
Below, we’ve summed up the biggest store closings in Canada in 2017:
1. Sears
2. Bebe
3. BCBG
4. hr2
5. Express
7. HMV
10. Le Chateau
Are we missing any major retailers who have closed locations in Canada this year?
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Every day it seems like another chain retail store is struggling to stay afloat in Canada. We’ve seen some of our favourite retailers close their doors so far in 2017. Whether the closure is a result of increased competition or aggressive expansion, we are disappointed when we lose beloved brands and employees are put out of work. Keep reading for a list of all of the major retailers that closed locations in Canada this year (so far).
HMV
At the start of 2017, struggling HMV announced the closure of all of its stores. While we were sad to see this music and movie mecca close, it’s understandable that the retailer could not compete against endless streaming services. Since closing 102 stores in April 2017, at least 70 Sunrise Records stores have popped up in former HMV locations.
Bebe
In March 2017, ladies apparel retailer Bebe announced the shutdown of 170 stores (including eight Canadian locations,) in an effort to reduce expenses and focus on online sales. Given the sameness of this women’s fashion retailer, was anyone really disappointed to see Bebe close their doors?
BCBG
We were surprised in March 2017 when upscale women’s fashion apparel and accessories brand BCBG announced the closure of all 51 Canadian locations. Fashion-forward BCBG ladies wear can still be purchased through major department stores including Hudson’s Bay and off-price retailers like Winners.
EXPRESS
May 2017 saw the demise of Express as they announced the closure of 17 Canadian locations. The Canadian marketplace proved to be all too difficult for Express, as they decided to not only close stores but also discontinue Canadian operations through its subsidiary, Express Fashion Apparel Canada.
Gymboree
In July 2017, children’s retailer, Gymboree announced the closure of 350 stores in an effort to restructure after filing for Chapter 11 bankruptcy, like so many other struggling brands.
Teavana
Starbucks announced in July 2017 that it would be closing all 379 Teavana stores (mostly located in shopping centres.) Landlords and employees are angry! Lucky for customers, Teavana products can still be purchased at any Starbucks location.
Shoes.com
No retailer (or e-tailer) is safe… In January 2017, Shoes.com announced the shutdown of all operations including two physical retail stores in Vancouver and Ontario. While we weren’t surprised to see this brand fold (given the heavy competition in the footwear market,) it is impressive how long they dominated the online shoe market for.
Sears
Sears Canada is closing forever. After serving Canadians since 1953, Sears Canada announced in October 2017 the closure of all Canadian operations and the start of liquidations sales across the country. Attempts to restructure and reinvent the Sears brand over the past 18 months failed miserably, leaving Sears with no choice but to close all remaining full-line Sears, Sears Home and Hometown locations.
Are you sad that these retailers closed store locations in 2017?
Featured image: Cristina Avila
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Get it before it’s gone!
We told you in February that BCBG faced immediate bankruptcy and as a result would be closing stores. It’s happening and BCBG is shutting its doors left, right and centre. While we hate to see a struggling retailer bite the bullet, we do love a good liquidation deal! We recently checked out BCBG to see what’s on sale now that they’re closing.
If you’re in need of a party dress, eveningwear or work wear check out a BCBG store ASAP. Inventories are depleting and discounts are increasing. While you won’t find a generous selection of accessories remaining, the markdowns on tops, bottoms and dresses are worth a peak especially with wedding season upon us. Are you in need of some store fixtures? They’ve got those too…
All images by Cristina Avila
Have you checked out the liquidation sale at BCBG?
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Another prominent retailer has its back up against the wall and will be forced to file for Chapter 11 bankruptcy protection. Reuters is reporting that BCBG Max Azria is filing for bankruptcy and will like close most if not all North American stores.
The Reuters article highlights the fact that financial and legal advisors are working with the retailer. It’s very likely that BCBG’s intellectual property will be of significant interest and should attract many bids.
Like so many retailers, BCBG has faced stiff competition from online retailers and shifts in how customers shop. This results in too large of a retail footprint for BCBG, who just hasn’t been able to make their retail stores successful as of late.
With external compettion from large scale department stores, and customers fast fashion or luxury preferences, the high-mid retailers are getting squeezed out.