Wednesday, October 23, 2019

DECELERATING NEWS

Forever 21 has filed for Chapter 11 bankruptcy protection. The privately held company will close up to 178 US stores. As of the bankruptcy filing, the company operated about 800 stores globally, including more than 500 stores in the US...Bed Bath & Beyond Inc., which also operates buybuy Baby, Harmon Face Values and World Market, says it will close 60 stores in the fiscal year across the company, up from the April estimate of 40 stores. Most closings are expected after the holidays in early 2020. 40 of the stores closing will be Bed Bath & Beyond stores and 20 will be in the company’s other concepts... Walmart is reportedly laying off staffers from its Bonobos menswear brand. It is not clear whether affected roles are in Bonobos’ corporate offices, 60-plus stores, or both... Another 100 stores Sears and Kmart locations are set to close by the end of 2019. Parent entity TransformCo, hasn’t said which stores will be closing.

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