Shopko
Shopko
Shopko announced its plan on shutting almost 70% of its locations by May. Eventually, the company also announced that it’s closing down for good. The Company filed for bankruptcy in January, initially hoping that a buyer will save the locations that are left. Sadly, that didn’t work out. The current plan is liquidating all the assets and then close the rest of the stores by June.
Gap
Gap
Gap Inc. is going to close down about 230 of its stores in the next couple of years. This makes up almost half of its branches all over the world. The company plans on turning Old Navy, its sister company, into a separate business seeing as it’s doing better than both Gap and Banana Republic in terms of sales. However, the Gap stores that will stay open along with Athleta, Banana Republic, Hill City, and Intermix, will begin to operate under NewCo.