Popular Stores That Are Partially And Fully Closing In 2020
It’s never fun watching our favorite stores close, sadly, that’s often the case as the retail space continues to evolve and new competitors cause older, more established, stores to fail. 2020 is especially painful as many people have stayed home for months under state orders. Some of these stores were already on their way out while others suddenly faced rapidly declining sales.
Below is a list of stores that are either fully or partially closing down locations in 2020.
Pier 1 Imports Is Closing More Than Half Its Stores
Pier 1 has announced plans to shutter 450 stores in 2020. The company currently operates about 950 stores. The closure means more than half the company will be closed down and approximately 4,000 employees will need to seek new employment.
As part of its restructuring, Pier 1 will cut corporate jobs and shut down some of its distribution centers as well. The company has struggled for years as companies such as Etsy continue to take away business that operates in the same space as the specialty retailer.
