Another Week, Another 1,000 STORES CLOSE…
More bad news for retail. According to this PE report another 1,000 stores set to close.
This hasn’t been a happy Monday in the retail world with the news that major retailers may close as many as 1,000 stores.
Children’s clothing and accessories chain Gymboree will close 375-450 of its 1,300 stores after filing for bankruptcy over the weekend according to news reports.
Ascena Retail Group, owner of Ann Taylor, Lane Bryant, Dress Barn and others, is also expected to 250-650 stores in two years.
Neither company has announced locations.
Gymboree has stores in the Galleria at Tyler, Riverside; the Shops at Los Lagos, Corona; Promenade Temecula; and Victoria Gardens, Rancho Cucamonga. It has outlet stores in Ontario Mills and the Outlets at Lake Elsinore.
Ann Taylor has a factory store in Ontario Mills and a location at Desert Hills Premium Outlets in Cabazon.
Outlet and factory stores are considered to be a bright spot in retail as more people seek bargains and buy clothes online.
There are Lane Bryant stores in such cities as Riverside, Corona, Redlands, Rancho Cucamonga and Menifee.
There are Dress Barns in Mira Loma, Moreno Valley, Corona, Redlands and Fontana.
Class A shopping centers, the kind that serve wide regions such as Ontario Mills and Promenade Temecula, are considered safe by many retail experts because they have the ability to adapt and attract trendy tenants.