Three Unexpected Mall Retailers Are Now Closing Stores

Three unexpected mall retailers are now closing stores in North America under a chapter 15 bankruptcy, sources confirm.

Ted Baker Canada, which conducts business operations for Ted Baker in Canada, Ted Baker Limited in the United States, Brooks Brothers in Canada, and Lucky Brand in Canada” shared in a May press release “that it will be commencing store closing sales across select locations.”

All Ted Baker stores in the U.S. and Canada will be closing.

The company has begun a liquidation sale where its 31 stores in the U.S. and nine locations in Canada will be offering 30% off sales.

The chain has closed its website for sales in both countries.

“Brooks Brothers Canada is offering savings of up to 30% off original prices on the entire selection of high-end luxury apparel for men, women and children and home furnishings across all 8 retail stores in Canada,” the company shared.

Lucky Brand Canada will offer the same 30% off on its entire collection of men’s and women’s casual apparel, including premium denim, graphic tees, dresses, and accessories across all 7 retail stores in Canada, reports TheStreet.

“The store closing sales will apply at retail stores only. As of May 10, 2024, online shopping is no longer available for the time being, and all sales are final across all of the company’s retail locations,” it shared.

Ted Baker Canada’s bankruptcy was filed in Canada and is considered a Chapter 15 bankruptcy filing.

“This chapter of the bankruptcy code allows for the recognition in the U.S. of foreign bankruptcy proceedings and access to domestic judicial proceedings by foreign representatives,” the IRS shared on its website.

For more store closure news and updates like this, opt-in for push notifications.

Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - Three Unexpected Mall Retailers Are Now Closing Stores.
Market News Today – Three Unexpected Mall Retailers Are Now Closing Stores.

Another massive retailer is now closing due to crime despite its location being a community staple for several years.

Rampant theft has led Walgreens to permanently close one of its major locations at the White Oak Shopping Center in Maryland, reports The-Sun.

Staff and shoppers told ABC affiliate WJLA-TV that the store was closed due to high rates of theft and crime.

Mobile security cameras were recently added by police in the parking lot around stores in the shopping center.

A source also told WJLA-TV that the shopping center’s management company had to fire their security company and hire a new one.

Just last year, there was an armed robbery inside Walgreens, resulting in a man and a woman taking an unknown amount of money and products.

Robberies have become a major problem in the area as stores get ransacked by violent thieves.

A resident told the outlet she was too scared to leave her car in the shopping center’s parking lot.

She says she saw another woman get assaulted and robbed.

“You can simply be walking and they take your purse and start running and they leave you with nothing,” said Sarah Rodriguez.

“That’s why when I’m here before I get out of my car I always look around first.”

Walgreens corporate execs announced earlier this year that about 150 stores will be closed throughout the US.

This would reduce the company’s corporate staff by about 10%, resulting in over 500 positions being eliminated.

News of a replacement for the store in the White Oak Shopping Center hasn’t been announced.

However, the center has been struggling to replace the Sears location that has sat vacant for over three years.

“Yeah, it’s not good, because everyone is complaining,” said resident Kokou Eafbo.

“This is the only pharmacy we have in this area and suddenly they close, we don’t understand.”

The shopping center had once been a thriving area full of shops in Montgomery County, reports The US Sun.

For more news and updates like this, opt-in for push notifications.

Also Read: Retirees Will Now Receive More Money For Social Security

Market News Published Daily 📰

Market News Today - Three Unexpected Mall Retailers Are Now Closing Stores.
Market News Today – Three Unexpected Mall Retailers Are Now Closing Stores.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



2 Comments

  1. Frank Nez

    Leave your thoughts below.

  2. Frank Nez

    For more news and updates like this, opt-in for push notifications.

© 2024 Franknez.com

Theme by Anders NorenUp ↑