Wet Seal has announced it’s plan to close all of it’s remaining stores in the U.S. Employees at the company’s California headquarters received a letter this month (January 2017) revealing plans that included lay-offs and office closings.
This past year saw traditional mall perennials either go out of business or trim less productive locations. Aeropostale filed for bankruptcy, while Ralph Lauren closed 50 of it’s stores. Macy’s has announced a plan to close 100 locations.
2016 has been unkind to traditional shopping malls. For now, Outlet Centers and Super Centers seem to be thriving, but who’s to say that even those seemingly successful formats will never see the hammer of ever increasing On-line shopping.
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