A store that has been operating for over 15 years in a US city is set to shut its doors in the coming weeks.
Since 2009, this beloved establishment has been a staple in the heart of Philadelphia, but its days are numbered. The Philadelphia Inquirer reports that it is set to close after January 31.
The company has confirmed that the shutdown aligns with the expiration of the store’s lease. A spokesperson stated, “The North Face has a deep-rooted relationship with the Philadelphia community.”
The chain boasts two more spots in the greater Philadelphia region, complementing its impressive total of 3,500 locations across the globe. Located approximately 20 miles from the city center’s outlet, the King of Prussia shopping mall features a single store.
Another location can be found in the township of Cherry Hill, New Jersey, situated approximately ten miles from downtown Philadelphia. The shutdown is anticipated to lead to the termination of 17 staff members.
A distribution center in Virginia was closed earlier this year by the parent company of the North Face.
The Denver Business Journal reports that the company has confirmed it will be letting go of hundreds of employees as part of a “reinvent” initiative.
The objective is to cut costs by $300 million. The shutdown will take place several months following the shutdown of two additional North Face locations across the country.
A prominent North Face store in Seattle closed its doors in May after five years of operation. It stands out as one of the limited chains that have shut down its outlets in the city of Washington.
Recently, several companies, including Nike and Target, have shut down their locations in Seattle.
The United States is bracing for a staggering wave of “45,000 store closures.”
Experts caution that approximately 45,000 brick-and-mortar locations could close within the next five years. Recently, several major retailers have revealed plans to close stores or have entirely ceased their operations.
Several retailers such as Mitchell Gold + Bob Williams, Shore City, Tuesday Morning, Sally Beauty, Foot Locker, and Z Gallerie have shut their doors. Bed Bath & Beyond has transitioned to an exclusively online retail model, having shuttered all of its brick-and-mortar stores.
A Piggly Wiggly store in Cherokee, Alabama, is set to shut its doors in a matter of weeks. A 28-year-old grocery store in Cedar Rapids, Iowa, is set to shut its doors by Christmas.