The closing of three major retail chains has continued the trend of the retail apocalypse sweeping the nation.
According to The Street, the latest brands to suffer from economic hardship and thus close down are Ted Baker, Brooks Brothers and Lucky Brand.
In a press release in May, it was announced that some stores will be closing.
“Ted Baker Canada, which conducts business operations for Ted Baker in Canada, Ted Baker Limited in the United States, Brooks Brothers in Canada, and Lucky Brand in Canada that it will be commencing store closing sales across select locations,” the release said, according to The Street.
This means that all Ted Baker stores in the U.S. and Canada will be closed. Ted Baker has since begun a liquidation sale across its 31 United States stores and nine Canadian ones.
Lucky Brand is another company that has decided to close stores.
“The store closing sales will apply at retail stores only. As of May 10, 2024, online shopping is no longer available for the time being, and all sales are final across all of the company’s retail locations,” the brand shared.
Because of their closing, Lucky Brand will be offering 30% off on its entire collection of men’s and women’s clothes across its locations in Canada.
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The other major clothing retailer to shut its doors is Brooks Brothers.
“Brooks Brothers Canada is offering savings of up to 30% off original prices on the entire selection of high-end luxury apparel for men, women and children and home furnishings across all 8 retail stores in Canada,” that company said in another statement.
The news of the three clothing retailers closing comes chains like Red Lobster announced they were shutting down some locations.
Source: These Three Popular Mall Retailers Are Closing Dozens of Stores
