So Many Big-Name Stores Are Set To Close At Least 100 Canadian Locations In 2021
Your local mall could look pretty different by the end of this year! So many big-name stores are closing in Canada, with some set to shut over 100 locations in 2021 alone.
This is in addition to smaller store closures set to take place across the country this year, including NYX Cosmetics, Godiva and Bizou.
Even Walmart has recently announced that it will be closing some Canadian locations this year, including stores in Ontario, Alberta and Newfoundland.
In fact, all of these companies are shutting down at least 100 of their locations.
Towards the end of last year, Le Chateau filed to have their assets liquidated in an attempt to close down their stores across Canada.
The company, which has 123 stores across the country, will soon be online-only, and all locations will be shut down permanently.
So many Starbucks cafes across Canada are also shutting down shops, with the company announcing that 144 stores are set to be closed by the end of March 2021.
It’s part of a wider plan to shutter as many as 200 Canadian locations over 18 months.
After originally shutting down 82 locations in just 30 days last year, David’s Tea recently confirmed online that it would be closing “a total of 166 retail locations in Canada, and all 42 of [its] locations in the US.”
While 18 spots are set to reopen in the future, the company plans to move to a more online-focused business model.
The Children’s Place
According to CTV News, The Children's Place started shutting down stores in 2020, closing around 200 locations across North America.
By the end of 2021, an additional 100 stores across Canada and the U.S. will have ceased production permanently.
In 2020, Gap announced that it was hoping to boost online sales to around 50% of its revenue, removing the need for so many in-person stores.
Between 2020 and 2023, approximately 220 are set to be shuttered across North America.
Banana Republic, like owner-company Gap, is scaling down its operations in Canada and the U.S. over the next couple of years.
Business Insider reports that by 2023 there will only be around 870 Banana Republic and Gap stores in Canada and the United States, compared to 1,216 in 2019.
This year, shoe retailer Naturalizer will close more than 130 stores across Canada and the rest of North America.
It’s part of the company’s plan to adopt a stronger digital sales strategy.
Bed Bath & Beyond
The business announced that 200 stores would be shut down across Canada and the U.S. between 2020 and 2022.
This is thanks in part to widespread COVID-19 closures, which reportedly led to a 50% decrease in the company’s sales.