Weekly Store Openings and Closures Tracker #35: Giggle to Close Six Stores; New York & Company to Acquire Fashion to Figure
KEY POINTS
FGRT tracks store openings and closures for a select group of retailers in the US and the UK.
- Year-to-date 2017, the number of store closure announcements in the US has increased 224% year over year, bringing the total number of stores to be closed to 6,885.
- Giggle to close all six stores within the year.
- Everlane to open two physical stores.
- New York & Company to acquire Fashion to Figure.
- Year to date in the UK, there have been 921 store closure announcements from major retailers, significantly lower on a year-over-year basis. The 887 store openings, however, are a slight increase compared to 2016.
- Shoon has fallen into administration.
2017 Major US Store Openings and Closures
FGRT has a dedicated team tracking news about store closures and openings, bankruptcies and management changes. Our Weekly Store Openings and Closures Tracker focuses on department stores and specialty retail, including, but not limited to, softlines, hardlines, consumer electronics and furniture.
What Is Happening this Week in the US?
Giggle to Close All Six Stores Within the Year
Specialty baby retailer Giggle is going out of business and will close all six stores within the year. The retailer announced at the end of September 2017 that it would hold liquidation sales. Giggle has given competition from online sales as the reason for shutting down.
Everlane to Open Two Physical Stores
Online clothing retailer Everlane is going to open two physical stores, one on December 2 and the other sometime in February.
Non-Store Closure News
New York & Company to Acquire Fashion to Figure
Specialty women’s apparel chain New York & Company announced that it has entered into an asset purchase agreement to acquire certain assets of Fashion to Figure, a retailer of plus-size fashions. The deal will see New York & Company pay a cash purchase price of $1.4 million plus no more than $1.0 million in fees and expenses. New York & Company currently has 459 retail stores.
2016 Major US Store Openings and Closures
2017 Major UK Store Openings and Closures
Shoon Has Fallen Into Administration
Footwear retailer Shoon has fallen into administration after failing to find a buyer. The retailer managed to sell two stores and two concessions to The Shoot Shoe Company, but will close the remaining five stores and one concession.
2016 Major UK Store Openings and Closures
