When you buy through links on our site, we may earn an affiliate commission. Inside in 1926, it was not just a store for shopping, but an ‘experience’ with music and food, and beauty salons, post office, and library. That doesn’t necessarily mean that the retailers will be going away, but some will. Mario Toneguzzi, based in Calgary, has more than 40 years experience as a daily newspaper writer, columnist, and editor. Last year, three stores closed in Quebec. Like it or not online shopping is here to stay. “Now we’re seeing a fairly substantial number of bankruptcy filings. After days of silence, Canada's iconic department store announced on Tuesday that it will close all 89 locations across the country, effective immediately. Aéropostale, the teen clothing retailer has announced the closure of 113 U.S. locations and 41 stores in Canada. Retail Insider analysis of the international retailers that have entered Canada over the past 12 months as the industry looks to an uncertain future. COVID-19 has been far from sweet for Godiva, which has decided to sell or close its stores across North America. BREAKING: Hudson's Bay has made the decision to temporarily close all its stores, effective immediately. And industry observers predict there could be more retail insolvencies to come in 2021. Into the fall, I think we’re going to see more of this. Although declared a ‘heritage building’ in 2019, the fate of the store remains in some doubt. This is not a temporary situation it will continue now for years to come. GNC, which has been selling nutrition and diet products since 1935, is slimming down in a big way. Macy's store closings 2021:36 Macy's, 1 Bloomingdale's to liquidate with most closing in spring. How we learn to deal with it is the real test. Walmart closings. There are fears that if left vacant it will become an eyesore. Hudson’s Bay announced it will close the operation in February 2021. 2021 will see stores and restaurants continue to close and new ones will open. Find out which stores could be closing near you. I believe what’s also important is the liquidity of real estate developers you can’t service debt without tenants. They will regroup for holiday 2021 which will be a better time to be a retailer.”. Store closing would be over the next two years and have started in some areas. The projects are part of RioCan's plans to intensify commercial assets through redevelopments. You have entered an incorrect email address! “For many retailers, sadly, this will be their last holiday season. Small and mid sized retailers will disappear with silence, it will be the only thing that saves larger players. (HBC Winnipeg archives). The store-closing list of 2020 is vast thanks to COVID-19 and a reliance on online shopping. Private Equity will not bother with retail it is a hands off this sector. GameStop is now in the process of closing at least 1,000 store locations by Mar. Thing is, internet is where its at now. With government programs expiring, including the provincial eviction moratorium, tenants will realize how weak their financial positions are. The equally huge former downtown Eaton’s store, another retail giant which once controlled 60 per cent of retail in Canada was demolished in 2003 after the chain declared bankruptcy in 1999 and assets bought by giant competitor Sears. A spokesperson for Starbucks Canada has confirmed to Dished that the company will be closing up to 300 stores across the nation by the end of March as part of its next phase of store transformation. Office supply retailer Office Depot said it will close up to 90 stores by 2021 as it focuses its attention on business-to-business services. For 2020, there is also expected that there will also be another round of store closures with some of these closures having been already announced by retailers. The days of the mall are limited and covid has only expedited the eventuality of the “mall” culture. The content on this website is protected by the copyrights of Retail Insider Media Ltd. or the copyrights of third parties and used by agreement. Read more: These major retailers are closing stores in 2017. Others will scrape by with e-commerce running full tilt and store traffic lower than last year but enough to pay the bills. While some stores are closing, 26 new locations will also open this year, meaning there will still be just over 1,700 Bath & Body Works locations across the U.S. and Canada. On Nov. 19, The Children's Place announced in a statement that it would be closing 100 stores in 2021. It doesn’t mean that they’ve necessarily filed but they’re certainly looking at their operations,” said Patterson. Unforeseen shutdowns brought our economy to a standstill, and Ontario than 40 years experience as a writer! 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