Category: CLOSINGS

LifeWay Christian to shutter all 170 stores

LifeWay

The retail closings keep piling up. According to a recent blog post on their website, LifeWay Christian will be closing all 170 brick and mortar stores in 2019.

LifeWay Christian Resources is charting a new course in 2019 marking a strategic shift of resources to a dynamic digital strategy. As part of the transition, LifeWay will close its 170 brick-and-mortar stores in 2019.

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More than 680 stores close today as the retail apocalypse rips through Tesla, JCPenney, Gap, and Victoria’s Secret

retail apocalypse

Another historic day in the retail apocalypse. According to multiple Business Insider reports, more than 680 stores closed today. Leading the pack was Tesla closing 378 stores, Gap 230 stores, Victoria’s Secret 54 stores, and JCPenney 27 stores.

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Another Iconic retailer shuts down: Payless ShoeSource to close all 2,300 stores in biggest retail liquidation ever

PHOTO CREDIT: WIKIPEDIA

This is becoming all to familiar, another iconic brand is disappearing. According to this Reuters report Payless ShoeSource will be closing all 2,300 stores.

U.S. discount retailer Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month for the second time in as many years, people familiar with the matter said on Thursday.

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H&R Block closing 400 locations

H&R Block

How much longer until H&R Block bites the dust? The once dominant tax preparation company has fallen on hard times thanks to the popularity of do-it-yourself tax software like TurboTax. According to this KCRA report, the company will be closing 400 smaller locations.

H&R Block is everywhere — and that’s a problem.

The company said it plans to close 400 smaller offices after it lowered its sales and profit margin outlook for the rest of the year. H&R Block’s stock plunged nearly 20% Wednesday.

During a conference call with analysts after the closing bell Tuesday, H&R Block CEO Jeff Jones said the decision to shutter the offices was part of its annual review and that the stores were mostly smaller ones.

The company does not plan to cut any jobs as a result of the closures, a spokeswoman for H&R Block told CNNMoney. She said that the stores being closed are all within five miles of other H&R Block locations.

H&R Block may be suffering from a Starbucks-like phenomenon — having too many locations that are within close proximity to other ones.

The increased popularity of do-it-yourself tax software like TurboTax is also hurting the company.

Jones noted that many people, including millennials, still want assistance when doing taxes.