Special Report

Retailers Closing the Most Stores

Source: Familychristiandirect / Wikimedia Commons

3. Family Christian Store
> Closings: ~240
> Total stores: ~240
> Industry: Christian retail

The evangelical Christian market grew rapidly in the 1990s and continues to represent a substantial share of U.S. spending. Despite the interest in such products, Family Christian Store, once the self-proclaimed leader of the industry, has not managed to combat shifts within the retail sector. Christian-related product retailer and consolidator Family Christian Store filed for bankruptcy protection in 2015. Creditors forgave $127 million in debt to help the retailer recover. Despite this, the company announced just two years later, on February 23 2017, that it would close all of its 240 stores.

2. The Limited
> Closings: 250
> Total stores: 250
> Industry: Apparel

As part of what seems to be the ongoing destruction of the U.S. brick-and-mortar retail industry, women’s clothing seller The Limited announced January 8 it would close all of its approximately 250 physical locations. While company officials stated in January that the retailer would continue to exist as an online merchant, The Limited website was down as of the time of this writing.

With the store closures, roughly 4,000 jobs were eliminated. Despite the closures, private equity firm Sun Capital Partners, which purchased the retailer outright in 2010, disclosed at the time of the closure announcement it had doubled its investment in The Limited in early January. However, on January 17 The Limited filed for bankruptcy.

Source: Coolcaesar / Wikimedia Commons

1. Radioshack
> Closings: 530+
> Total stores: 1,500
> Industry: Electronics

Just over two years ago, unable to compete with other brick-and-mortar stores and online retailers like Amazon, electronics retail giant RadioShack declared bankruptcy. At the time, General Wireless Operations, Inc. won a bankruptcy auction and bought the brand. In order to keep some of its locations, the company made a deal with Sprint, agreeing to host a number of the wireless provider’s stores inside RadioShack locations. RadioShack proceeded to close more than half of its roughly 4,000 stores.

Now owned by General Wireless, RadioShack has once again filed for Chapter 11 bankruptcy protection in early March. When the announcement was made, 187 RadioShack locations were already in the process of closing their doors. An additional 365 stores will close by the end of the month. The company has yet to decide what will happen to its remaining roughly 1,000 locations.

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