(update) French fashion chain Promod is reducing the size of its foreign activities. The German branch has started an insolvency procedure, the Belgian stores are also being looked into. However, only one Belgian store is closing.
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American luxury group Capri (Jimmy Choo, Michael Kors, Versace) fears a 70% loss of sales due to the corona?pandemic. The group will therefore close 170 stores over the next two years.
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Swedish fashion group H&M plans to close 170?stores this year, following the coronavirus crisis and the losses incurred as a result. The focus will be more on e-commerce.
French baby store chain Orchestra Prémaman is going to fall back on the French-speaking part of Belgium, closing all stores in the Dutch-speaking part. "We have never been able to make a breakthrough there", founder Pierre Mestre admits.
Fashion brand Esprit says goodbye to its 56?stores in Asia: the chain will only remain active with its own retail network in China, even though the company is listed in Hong Kong. The group has also already applied for protection against creditors.
The coronavirus crisis has a bitter taste for Le Pain Quotidien: the bakery chain urgently needs to find a buyer for its restaurants in the United Kingdom. As for the United States, all of its thousands of employees have been laid off.
An increasing number of online retailers (including British e-commerce giant Next) close their webshop because of the coronacrisis. Is this just a prelude for worse things to come?
Although stores have not yet been ordered to close during the coronavirus crisis, most major retailers in the United States are taking matters into their own hands. Measures vary from limiting opening hours to general closures.
Europe goes in lockdown: countries close their borders, chains close their stores. Measures against the spread of the coronavirus become more drastic, but differ in each country. How will retailers cope?
Even Ikea is having a hard time in the declining British market: in Coventry, in the centre of England, Ikea is forced to permanently close its store. 352?employees lose their jobs.
Belgian fashion label Essentiel Antwerp has decided to stop designing collections for men, in order to focus fully on its women's collections. The label's store that focuses on men, in the Schuttershofstraat in Antwerp, is closing its doors.
French holding company Cafom is looking to sell its subsidiary Habitat. Loss-making branches of the furniture chain are to be closed.
Aldi?is to leave its?founding store in Essen. One hundred years after the creation of the chain, the Huestrasse site has become too small and is to be closed. However, the move also symbolises a shift in power within the discounter’s management team.
Carrefour Belgium has suffered a record 55.6?million euro loss last year, as costs for a major restructuring mounted. The hypermarkets specifically are still in a terrible shape.
British department store chain Debenhams is implementing an intense recovery plan with some vigour: fifty stores will have to close, thirty others will be downsized.
After making its exit from Italy, hypermarket group Auchan is now also leaving Vietnam. The French retailer is selling its eighteen outlets as part of a large-scale restructuring effort to compensate for a billion euro loss.