KEY POINTS

Coresight Research tracks store openings and closures for a select group of retailers in the US and the UK, as well as major US store bankruptcies.

  • Year-to-date (YTD) 2018, the number of US store closure announcements stands at 5,468 and the number of store openings is 3,060.
  • Advanced Sports Enterprises will shut 40 stores.
  • David’s Bridal has filed for bankruptcy.
  • YTD in the UK, there have been 1,394 store closure announcements and 783 store opening announcements.
  • B&Q will reportedly sell six stores.

Coresight Research tracks news about store closures and openings, bankruptcies and management changes. Our Weekly Store Openings and Closures Tracker focuses on department stores and specialty retail, including, but not limited to, softlines, hardlines, consumer electronics, grocery and furniture.

2018 Major US Store Openings and Closures

YTD 2018, the number of US store closure announcements stands at 5,468 and the number of store openings is 3,060. We have expanded our coverage list to include more US retailers. We have updated our opening and closure charts for 2017 and 2018 to reflect this.

What Is Happening this Week in the US? 

Advanced Sports Enterprises to Shutter 40 Stores

American bicycle retailer Advanced Sports Enterprises (ASE), the parent company of retail chain Performance Bicycle, filed for Chapter 11 bankruptcy protection on November 16 and plans to shut 40 underperforming stores. The remaining wholesale and retail businesses are set to be sold. ASE was created in 2016 when Philadelphia-based Advanced Sports International, which also owns Fuji, SE, Kestrel, Bike Nashbar and others, acquired Performance Bicycle, which currently operates 104 stores. Following ASE’s announcement of store closures, Bicycle Retailer and Industry News reported that store closures would begin within 60-90 days.

David’s Bridal Files for Bankruptcy

David’s Bridal, America’s largest wedding retailer, filed for Chapter 11 bankruptcy protection on November 19 as it seeks to offload $400 million in debt. The company, however, assured customers that the bankruptcy would not affect existing orders and that it will continue to operate its more than 300 stores. The retailer has been struggling in recent times in the face of sliding marriage rates, intense price pressure on dresses and competition from online platforms. 

Non Store-Closure News

Lidl Set to Acquire 27 Best Market Stores

German global discount supermarket chain Lidl is acquiring New York-based fruit and grocery store chain Best Market in a deal announced on November 16. The 27 stores under the deal are located on Long Island (24), in New York City (2) and New Jersey (1). The newly acquired stores will all be rebranded into Lidl stores in the coming year. 

Year-to-Date 2018 Major US Store Bankruptcies

2017 Major US Store Bankruptcies

2018 Major UK Store Openings and Closures

YTD in the UK, there have been 1,394 store closure announcements and 783 store opening announcements. 

What Is Happening this Week in the UK?

B&Q “to Sell Six Stores”

DIY and home improvement retailer B&Q, owned by Kingfisher, is reportedly looking to sell six of its stores with the objective of raising £125 million ($160.4 million) to fund its turnaround strategy. Stores in Birmingham, Croydon, Southampton, Cardiff and two sites in the North East are going to be sold, according to The Times. This week, B&Q (UK & Ireland) registered a 2.9% decline in comparable sales in its third quarter, which ended October 31. We await confirmation on timing of any closures before we include them in our annual total.

2017 Major UK Store Openings and Closures

 


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