Legendary department store abruptly closes location after 50 years as retailer says it was a ‘difficult’ decision
A well-known department store chain has permanently closed a location after five decades of existence.
In recent years, many clothing retailers with physical locations have struggled to operate due to changing consumer shopping habits.
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One of them was negatively affected: Macy’s.
The chain previously confirmed that its Eagle Rock Plaza store in northeast Los Angeles, California, would close at the end of September.
However, a mall employee confirmed that the location is already closed.
It is estimated to have happened earlier this month – weeks before the closure was predicted.
The Eagle Rock Plaza location has been home to Macy’s fans since 1973.
“The decision to close a store is always a difficult decision, but Macy’s Eagle Rock Plaza is grateful to have served our customers and community, and we look forward to continuing to do so at neighboring stores, online at Macy’s. com or on the Macy’s App website,” a company spokesperson told The US Sun in August.
It’s not clear why the store closed earlier than expected.
The US Sun has contacted the company for further comment.
PROBLEM BEYOND
However, this isn’t the only Macy’s store that has closed.
At the start of the pandemic, the company announced plans to close 125 stores.
Since then, a total of 80 branches have closed – another five are expected to be added by the end of the year.
While stores are closed, Macy’s has implemented a new strategy that focuses on off-mall and smaller locations.
As CNBC reported, the clothing retailer has opened 10 stores in malls.
The new stores are called Bloomie’s and Market by Macy’s and are about 20 percent the size of traditional branches.
They will offer a narrower selection of popular brands and items in the store will be changed frequently to keep things fresh.
It plans to add five more of these stores this fiscal year – and one of them will be a Bloomie’s location in Seattle, Washington.
MORE TRADE STORES
But Macy’s is just one retailer that has been forced to close stores.
Some with physical locations closed as online sales surged.
Gap North America, for example, plans to open hundreds of stores.
In August, Macy’s Washington state rival closed its Tacoma Mall location on Thursday.
But others outside the clothing sector are also affected.
Rite Aid, which closed several stores on the East Coast last week alone, may be the biggest example right now.
That’s because the company is preparing to file for bankruptcy “in the coming weeks,” the Wall Street Journal reported.
The company has accumulated $3.3 billion in unpaid debt and is expected to lose $700 million this year.
To make matters worse, the pharmacy chain will be closing another location in Buffalo, New York on Thursday, September 21st.
Another major retailer, Christmas Tree Shops, went bankrupt this year and closed the rest of its stores last month.
Other relevant stories: A popular restaurant chain has closed its last location in a key state.
And here is the full list of retailers that have filed for bankruptcy.