A popular mall clothing retailer is now making an unexpected closure, triggering massive sales of up to 40% off items, sources report.
Rainbow Shops is offering 40% off all items as it prepares to pull out of a New Jersey mall location.
The youth clothing brand is shutting down its Hamilton Township, New Jersey store.
It’s located in the Hamilton Mall, The US Sun confirms.
The mall has already lost several major stores, according to local radio station WPG.
In 2018, the mall’s Sears location had closed down.
Soon after, it also lost its JCPenney store.
Now, Rainbow Shops is joining the growing list of stores leaving the location outside Atlantic City.
The company has approximately 950 locations across the country, according to ScrapeHero.
Those looking for deals on clothing may find discounts at the Hamilton Rainbow.
WPG shared pictures of the store, which hosts signs proclaiming that everything must go.
Currently, signs show discounts up to 40% off.
An employee confirmed to The U.S. Sun that everything in the store is currently on sale for that price.
However, purchases cannot be returned to any other Rainbow for a refund.
The employee also confirmed that the store does not yet have a final closing date.
Stores often continue selling goods until they run out.
WPG reported on Saturday that the store was “busy” with bargain hunters.
Hamilton Mall’s decline is part of a bigger trend that’s gone on for decades, reports the outlet.
A retail expert recently told The U.S. Sun that while many malls have died, some of the best properties are continuing to thrive.
To adapt, he suggested some incorporate more mixed-use development — like housing.
By keeping people close to shopping, they can come closer to replicating robust, walkable town centers.
That can make them more economically resilient.
One mall in Michigan is doing just that, undertaking a major remodel.
Meanwhile, some spots are becoming emptier and emptier.
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
A beloved grocery chain now confirms unexpected closures across the Northeast taking place by the end of the year.
Grocery chain Stop & Shop has announced that a total of 32 underperforming locations will shutter in the U.S.
The company said the select stores across the Northeast will be closed before the end of the year.
Stores in New Jersey, Massachusetts, New York, Connecticut, and Rhode Island will close by November 2.
In May, the company announced the coming store closures.
“Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” company president Gordon Reid said, per a July 12 press release.
The company’s president added that the closures were essential “to create a healthy base for the future growth of our brand.”
Fortunately, employees will be offered other positions within the company, according to a press release.
The grocery outlet first opened in 2014 and currently has around 400 stores and 60,000 employees, per Fox affiliate KRLD.
Stop & Shop is owned by Ahold Delhaize which also owns Food Lion, Giant Food, and Hannaford.
Which grocery stores are closing?
In New Jersey, 10 locations will close, while only seven will close in New York.
Rhode Island will see two closures and Massachusetts, the home of the first location, will be closing eight.
Five stores will also be closing in Connecticut.
As other chains such as Walmart and Amazon join the grocery business, it has pushed traditional grocery stores out of view, reports The-Sun.
Stop & Shop hopes the closure of underperforming stores will create “future growth” for the company.
Also Read: Retirees Will Now Receive More Money For Social Security
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