Traditional physical stores definitely suffered a lot when the e-commerce industry boomed. We’ve seen a lot of closures among international and national brands as well as department stores. In the past few years, many retailers with physical stores have shut down their businesses at record-breaking speed. Unfortunately, this sad trend is predicted to surge in 2020, making a huge decline in basically all types of businesses from clothing lines, to electronics, to home goods. Here is a list of companies that are closing some, if not all, of their stores in 2020.
Closing
Payless
Among all businesses that would close their stores this year, Payless ShoeSource has the most number of store closures. The company is closing over 2,500 stores, where clearance sales are currently going on to get rid of their goods and liquidate. While some stores will stay open until May, the other stores will close as early as the last week of March.
Payless
