Popular retail chain to close unprofitable store locations
The specialty retailer plans to either close or turn around unprofitable stores.
The retail sector has been deteriorating over the last two years after recovering from the Covid-19 pandemic when retailers were forced in 2020 to close their doors at the beginning of the pandemic and later reduce customer occupancy in stores once they reopened.
After the pandemic's impact hit retailers, almost 9,700 retail stores closed in 2020, according to Coresight Research. But the sector quickly improved in 2021, as about 5,230 stores closed that year.
