New layoffs in Georgia now grow prior to the holidays as another business begins to shutter its stores across the U.S.
“Almost 3000 retail stores across the United States have closed this year, and the number is set to rise as retailers face challenging conditions,” reports Ash Jurberg.
“This time, it is Soft Surroundings, a women’s apparel and accessories brand that closing stores due to bankruptcy, and unfortunately, several stores in Georgia will soon shutter.”
This week, Gordon Brothers, the global asset experts, launched closing sales at all 43 Soft Surroundings retail store locations throughout the United States.
Discounts between 20% and 50% on all items, including casual wear, shoes, and home products, specifically catering to women.
Everything is on sale, including new arrivals perfect for holiday parties and gift-giving.
The stores closing in Georgia are the following:
- Avalon, 3100 Avalon Blvd, Alpharetta, GA 30009
- The Avenue West Cobb, 3625 Dallas Hwy, Space 560, Marietta, GA 30064
- The Forum on Peachtree Parkway, 5151 Peachtree Parkway, Space #705, Peachtree Corners (Norcross), GA 30092
The following businesses have recently laid off employees in Georgia or will lay off prior to the holidays:
- Saddle Creek Logistics Services. 225 job cuts on 11/6.
- Excalibur Homes LLC. 120 job cuts by 12/15.
- Hood Industries, Inc. 105 job cuts on 11/10.
- GXO LOGISTICS SUPPLY CHAIN, INC. 85 job cuts by 12/30.
- Summit Hill Foods, Inc. 80 job cuts by 12/31.
- Thriveworks. 78 job cuts by 11/30.
- A.L.P. Lighting Components, Inc. 55 job cuts on 11/02.
- All FAB Precision Sheetmetal, Inc. 50 job cuts by 12/31.
So far in 2023, there has been approximately 7,642 layoffs in Georgia across 52 businesses.
California remains the #1 state with the most layoffs in the country.
Other Economy News Today
More massive bank branches in Florida are now closing as more advisories of closures are listed by the OCC.
The following six bank branches are now scheduled to shutter in Florida in the coming weeks:
- Trustco Bank. 1084 Lee Rd, Orlando
- Bank of America. 126 East Olympia Ave, Punta Gorda
- Wells Fargo. 3131 West Hallandale Beach Blvd, Hallandale
- Wells Fargo. 10191 Cleary Blvd, Plantation
- Wells Fargo. 113 South Tennessee Ave, Lakeland
- Wells Fargo. 4901 Tamiami Trail, South Naples
Wells Fargo is also closing additional branches in California soon.
In July, Wells Fargo laid off over 100 employees in the consumer and small business banking division in Orlando.
“Between 2017 and 2021, nine percent of all branches — almost 7,000 locations— shut their doors. Florida had the fourth most closures of any state,” reports Ash Jurberg.
CNBC reports that this trend of bank closures may lead to “banking deserts”, where communities are left without access to a bank or credit union within 10 miles.
“Several studies have shown these communities are more likely to use non-traditional and high-fee lending options such as payday loans and check-cashing services, which increases financial inequities and ends up widening the wealth gap.”
This trend has grown nationwide as traditional banks pivot towards an ever growing digital world.
“Data from S&P Global Market Intelligence shows a total of 1,144 national and regional banks were closed between January 1 and July 31 across 49 states – and firms are pulling out of some areas faster than others,” reports the DailyMail.
“Branches continue to play an important role in the way we serve our customers, and customers continue to value the experiences they have in our branches,” Saul Van Beurden, the bank’s CEO of consumer, small and business banking, said in a statement.
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