These chains are closing the most stores permanently in 2020
These chains are closing the most stores permanently in 2020

America’s stores were in rough shape even before the coronavirus hit, but the pandemic has worsened the toll on traditional retailers.

Forecasters say business will never go back to “normal,” as many shops have had an impossible time coming back from this year’s long lockdowns.

A record 9,500 stores went out of business in 2019, which seemed massive — but as many as 25,000 could shut down permanently in 2020, mostly in malls, says the an estimate from Coresight Research.

So far in 2020, more than 8,000 retail locations have gone dark for good, Coresight says.

Here are the major retailers that are permanently closing the most stores in 2020, starting with the biggest announcements. On your next stop at a going-out-of-business sale, be sure to use a cash-back card to save even more.

1. GNC

GNC vitamins nutrition center storefront shopping mall, Danvers Massachusetts USA, February 22, 2020
QualityHD / Shutterstock

Stores

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Citi India sees MSMEs’ contribution to Indian GDP only go up amidst Covid-19 induced challenges. MSMEs are expected to benefit from supply chain realignments taking place as US, European, Japanese, Australian, Korean, and Taiwanese companies look at diversifying their manufacturing base to India, coupled with increased digital adoption by Indian enterprises, says Tushar Vikram, Head of Commercial Banking, Citi India. Excerpts from the interview:

How has Covid-19 challenge impacted your business? Is there a change in strategy?

Most of our customers are choosing to see the ongoing scenario as an opportunity. These are innovative entrepreneurs who are pivoting their firms to meet the demands of the hour – for example, manufacturing PPEs, test kits, and increasing the manufacturing of specialty chemicals for big pharma. Our pre- and post-Covid-19 focus remains the same: to meet the requirements of our customers and provide global digital solutions. We are not shying away from

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Remember March and April 2020, when toilet paper was nowhere to be found?

Toilet paper shortages weren’t even our biggest issue. Just as Covid-19 began to spread throughout the country, essential medical supplies, personal protective equipment (PPE), and testing kits were also in short supply.

Why?

Demand, and dependence on global supply chains. Over the last several decades American reliance on foreign supply chains meant that much of what we need is manufactured in China, which (like the rest of the world) was having challenges keeping its own economy functioning during the pandemic.

In the United States, imports have increased by 427% since 2001, when China was admitted to the World Trade Organization.

Normally, discussions of trade policy, imports, and the inner workings of supply chains are the purview of politicians and economists–until we start having shortages of basic medical supplies in the midst of a pandemic. Covid-19 has demonstrated

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(Reuters) – America’s biggest dollar store chains reported better-than-expected quarterly profit on Thursday, as cash-strapped consumers sought lower priced groceries and household items in a coronavirus-induced economic downturn.

FILE PHOTO: A sign is seen outside a Dollar General store in Chicago, Illinois, U.S. May 23, 2016. REUTERS/Jim Young/File Photo

Sales at Dollar General Corp (DG.N) and Dollar Tree Inc (DLTR.O) remained robust even after the panic-buying surge at the start of lockdowns, with high U.S. unemployment pushing demand for cheaper cereals, vegetables and daily essentials.

The two dollar stores said sales of more discretionary items including clothing were also up, as households spent government stimulus checks carefully.

But with talks over the new COVID-19 stimulus package stuck in a stalemate, Dollar General warned that comparable sales could moderate from the current 15% growth levels in the coming months.

Smaller rival Dollar Tree remained optimistic for the

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Xinjiang cotton has become a striking example of the benefits and hazards of globalization as a business model. The region’s cotton has brought income to one of China’s most impoverished and isolated areas and linked it to the outside world, while providing affordable clothing for Western consumers.

But the flow of Western cash has taken on darker implications as human rights abuses in the region have come to light, and with Xinjiang’s cotton income contributing to China’s construction of a network of surveillance technologies and internment camps targeting Uighur Muslims and other ethnic minorities. Global supply chains have become so complex that many American companies are struggling to verify how much of their raw materials are sourced from the region, and under what labor conditions.

Last month, the Treasury Department announced sanctions on the Xinjiang Production and Construction Corps (XPCC), the paramilitary group often described as a “state within a

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It’s a big earnings week for retail.

Four of the country’s largest nationwide chains — big-boxes Walmart and Target, department store Kohl’s and off-pricer TJX — are set to report second-quarter financial results over the course of the next few days. (Alibaba and Foot Locker also report earnings on Thursday and Friday, respectively.)

More from Footwear News

The numbers come at a precarious time for the retail sector, whose challenges amid shifting consumer habits and the rise of e-commerce have been compounded by the ongoing coronavirus pandemic. Government-imposed lockdowns and COVID-19 fears have already significantly impacted both top and bottom lines in the first quarter, albeit in different ways: For Walmart and Target, panicked shoppers drove a surge in sales of essential goods, while physical-first companies like Kohl’s, TJ Maxx and Marshalls took a huge hit as store traffic dwindled and, in most cases, completely halted for weeks.

As we

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amc movie theatres


© TheWrap
amc movie theatres

Though a judge has now approved the termination of the antitrust rules that, for 71 years, have prevented major Hollywood studios from taking control of theatrical distribution, experts say studios are unlikely to swoop in to buy cinema chains.

The theatrical business, now undergoing potentially significant changes amid the coronavirus pandemic, faces an uncertain future. According to B. Riley FBR analyst Eric Wold, there’s no telling what the major theater chains, mainly AMC, will look like in a couple of years.

When asked what he thinks the chances are that a studio could buy a theater chain, Wold said he believes it’s unlikely. “I don’t see the benefit outweighing the risk,” he said. 

The major benefits to studios would be the ability to have full control over how many screens their films play on and how long they’re in theaters before heading to streaming. They

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  • Sit-down casual dining chains like Chili’s, The Cheesecake Factory, and TGI Friday’s are struggling to boost sales during the coronavirus pandemic. 
  • Research firm Gordon Haskett says that the casual dining segment will be “in a state of limbo” for the next three-to-four months, due to dining rooms closing again and state-mandated caps on how many people can eat in a restaurant.
  • Some chains are being forced to close locations, with TGI Friday’s planning to shutter up to 20% of its US locations and Ruby Tuesday quietly closing more than 150 restaurants since January.
  • Visit Business Insider’s homepage for more stories.

Casual dining chains dependent on indoor seating are struggling to boost sales. What’s worse is that without a coronavirus vaccine readily available to the public, a full recovery to pre-pandemic levels will likely be difficult to achieve.

While restaurants across the board saw impressive gains in sales in April, May,

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Weather: Spotty showers and possibly heavy thunderstorms. High in the mid-80s.

Alternate-side parking: In effect until Saturday (Feast of the Assumption). Read about the amended regulations here.


The owners of Bank Street Bookstore, a 50-year-old children’s shop on the Upper West Side, were looking forward to busy shopping seasons.

Bryant Park Grill & Cafe, in Midtown, was expected to remain one of the country’s top-grossing restaurants.

Then the coronavirus crisis pulled the rug from underneath them.

The lack of tourists and commuters has devastated New York City, especially Manhattan. Since March, more than 2,800 businesses in the city have permanently closed, according to data from Yelp. And by the time the pandemic is over, one-third of the city’s 240,000 small businesses could be gone forever, according to a report by the Partnership for New York City, an influential business group.

Bank Street is closing for good this month. The

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