General
Whilst everyone is counting down the days to the end of the Covid crisis, the retail industry should brace itself for a huge wave of closures. Analysts from stockbroking firm UBS predict "at least tens of thousands" of store closures as a result of the permanent shift in consumer behaviour; their colleagues in other countries agree.
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Fashion
After the recent difficulties in China, the Swedish fashion chain H&M is now also in trouble in Spain and Vietnam. In the southern European country, the Swedes want to close 30 stores, while in Vietnam, a boycott is taking place.
Electronics
Media Markt and Saturn continue their cost-cutting course: in the German home market, 13 stores are closing, and 1,000 employees are losing their jobs. The retailer is also cutting some jobs in Belgium, but no Belgian outlets will be closed.
Food
Luxury chocolate maker Godiva is to close all its shops in North America. The decision was prompted by the corona crisis. The brand now wants to focus on sales through other retailers and on e-commerce.
Cosmetics
Perfumery chain Douglas is reportedly planning to close 500 of its 2,400 European stores. The German retailer had previously announced it would be taking a critical look at its store network.
By the beginning of next year, Abercrombie & Fitch will definitively close its flagship stores in Brussels, Paris and other cities. The American fashion group is focusing more and more on smaller stores.
(update) Gap plans to leave Europe: the American clothing chain announces the possible closure of all its stores on the European continent. Nearly 120 stores are affected by the decision.
Dutch retailer Rituals is going to close some of its stores in the United States and focus more on online, because Americans are "more digital-minded".
Dutch supermarket chain Jumbo is restructuring its restaurant business La Place: 23 restaurants, or more than a quarter of all establishments, are closing due to the corona crisis.
To recover from the Covid crisis, fashion chain Esprit has to cut costs. Half of its 100 stores in Germany will be closed, 1100 people will lose their jobs. A further 100 jobs will also be lost in the headquarters in Hong Kong.
British retailer Marks & Spencer is reported to have told its landlords it would close more stores than the 110 already doomed by its transformation plan. In fact, all underperforming stores are said to be threatened.
Furniture
Next Thursday will be an all-important day for the Belgian branch of Dutch chain Blokker. The trade unions fear the announcement of new store closings, or an even worse fate for the chain...
Fashion chain C&A is closing thirteen stores in Germany. Last week, the company also announced the closure of some thirty French stores.
Fashion chain C&A has announced the closure of 30 French stores. As a result, 200 jobs are jeopardized. This is the second wave of closures in less than a year.
Clothing chain e5 mode, which was recently taken over by Phoenix, has announced its complete withdrawal from Wallonia. Eventually, the twelve Walloon shops will all close their doors.
Bose is going to close half of its stores worldwide: a complete retreat from Europe, North America, Japan and Australia leaves only stores in four Asian countries. The specialist in audio equipment says too many people have switched to buying its products online.
