Thursday, July 18, 2019

DECELERATING RETAIL NEWS

Pier 1 ended the quarter with 967 stores, down 30 a the year ago. The retailer will close 57 locations in the current fiscal year, higher than the chain’s previous estimate of 45, which it gave back in April....Restaurants Unlimited, a Seattle-based company that operates 35 restaurants in 6 states, has filed for Chapter 11 bankruptcy protection. RUI runs restaurants under the names of Clinkerdagger, Cutters Crabhouse, Fondi Pizzeria, Henry’s Tavern, Horatio’s, Kincaid’s Maggie Bluffs, Manzana, Newport Seafood Grill, Palisade, Palomino, Portland City Grill, Portland Seafood Company, Scott’s Bar and Grill, Simon & Seafort’s, Skate’s on the Bay, Stanford’s and Stanley & Seafort’s…Boston Market has closed 45 stores due to underperformance. The chain, owned by Sun Capital Partners Inc., closed 6 restaurants on June 30, while the remaining 39 closed on July 7... Jewelry and accessories chain Charming Charlie has filed Chapter 11 bankruptcy and plans to close all 261 of its stores. The company, which operated in 38 states, had shut down 100 stores as part of an earlier bankruptcy filing last April. Going out of business sales are already underway at many locations and the chain expects to cease all operations by Aug. 31. 2 years ago, there were 390 Charming Charlie stores spread across the US, Canada the Middle East and the Philippines.

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