Latest news with #retailapocalypse
Daily Mail
8 hours ago
- Business
- Daily Mail
Iconic supermarket set to close stores in two states: Full list of locations
Homeland has become the latest grocer to announce widespread closures, confirming it will shutter several underperforming locations this summer. The company says four stores in Oklahoma — operating as Homeland, United Supermarkets, and Discount Foods banners — will close by August 16. A Piggly Wiggly in Gordon, Georgia — also run by Homeland — is also set to shut down. Christin King, director of marketing and public relations for Homeland, said the Oklahoma closures were based on 'financial performance', 'It is very unfortunate that we had to make these tough decisions, but our goal is doing the best thing for our company and our employee owners,' King told The Oklahoman. 'By closing these stores, we are able to focus on the greatest opportunities that strengthen other communities, grow communities and to really strengthen our organization by focusing resources in those areas.' These supermarkets are some of the forecast 15,000 store closures that will occur this year following inflation, tariffs and the retail apocalypse's turn for the worse. Homeland traces its roots back to a United Supermarket founded in Sayre, Oklahoma in 1916. The parent company of Homeland, Homeland Acquisition Corp. Inc., was originally linked to the Safeway grocery store chain. It officially adopted the Homeland name for its stores after becoming an independent company in 1987. The company hit a bump in the road in 2002 when it filed for bankruptcy and was acquired by Associated Wholesale Grocers. The Kansas-based firm was credited for reviving the chains owned by Homeland. While at its prime, Associate Wholesale Grocers opted to sell Homeland Acquisition Corp. Inc. to employees through an Employee Stock Ownership Plan (ESOP) in 2011. The company has been 100 percent employee-owned since 2012, and currently operates around 80 stores in Georgia, Oklahoma, and Texas. Homeland and Associate Wholesale Grocers' business deals may have been what Albertsons and Kroger hoped would happen when planning to merge their stores. However the merger was a bust, and Kroger has been busy shuttering over 60 underperforming stores since shutting down its shipping services. However, some chains have continued to thrive and expand. Aldi, the fastest-growing supermarket, is opening more than 225 US locations this year, part of the 800 locations the chain plans to operate by the end of 2028. Trader Joe's fans were excited this year to discover the company planned to open a dozen stores across 10 states. That number has since moved up to more than 30. Wegmans joined in by announcing its plans to open four new stores after receiving 'thousands of requests' from customers. Other brands that are set to open stores this year include Walmart and the discount retailer Five Below.
Daily Mail
3 days ago
- Business
- Daily Mail
Beloved store shuts down after 90 years as crisis faces businesses nationwide
Frentz & Sons Hardware is closing after more than 90 years of business, becoming the latest victim of the growing retail apocalypse. Owners of the legendary Michigan store John, Mike, and Chip Frentz, confirmed the heart wrenching news in a Facebook post on July 17. 'While the reasons are personal, we can share that changing economic realities, rising costs, and the challenges of running a small business in today's environment factored into this decision,' the family wrote. 'At the same time, the three of us are now in our retirement years and are looking ahead to the next stage of our lives.' The hardware store had been a family-owned business since 1932 and a legendary store in the town of Royal Oak. 'We've always prided ourselves on having what you need, especially regarding the unique hardware and knowledge that older homes require,' they wrote. 'But more than that, we've been proud to know so many of you by name, help with your projects big and small, and be a trusted neighbor in the community we love so much.' The Frentz family did not announce the date the store would shutter, but they said they are in the process of putting the building and property up for sale. Facebook users were heartbroken to learn about the beloved store's closure, and couldn't help but look back at the fond memories they had of Frentz & Sons. 'My dad used to shop for our Christmas presents in your toy department. As I began to make and show my sculpture and other art I came to you countless times for tools and hardware and paint supplies,' a commenter wrote. '1962? I had saved $3 in my piggy bank. Mom and dad took me to Frentz to let me spend my first money on an Etch a Sketch. Vivid memory of the whole day,' a customer responded. 'I remember coming here in the 60s with my dad and meeting all the Frentz! Great store and wonderful people to work with,' another person wrote. 'Thanks for teaching a youngster, like me and I'm sure many others, about tools and how to do a job correctly.' 'I went in the store with my dad often in the 50s and 60s and I think that's why I still enjoy and feel comfortable in hardware stores,' a customer added. Others gave brief shout outs to Mike and Chip, and revealed they became friends with them after meeting them in the store. Several other customers admitted to being heartbroken, but wished the Frentz family luck on their upcoming endeavors. The Frentz family began their longtime hardware business in 1925, when Mike's father and grandfather opened their own store. While running the business, they would pass by a building in Royal Oak when traveling by street car to see relatives. Mike's father and grandfather discovered a building for sale during one of their trips, which would go on to become the hardware store's home. 'My grandfather was in his 80s at that time, so basically my dad took the business over when he moved to Royal Oak,' Mike told Royal Oak Schools, adding that he was only 21 at the time. While the business was still selling toys, Mike and his siblings would spend time riding tricycles when the business would be closed on Sundays. 'As I got into junior high, I started working a little bit... My dad would pay me out of the pocket for doing odd jobs,' Mike revealed. 'When I got into high school... I kind of started working more solid hours where I was scheduled and had a regular paycheck. I've been there ever since.' While Mike and his family are unsure of what the future holds, they plan to be around to serve customers with their hardware needs for as long as they can before the sale of the building is finalized. Frentz & Sons is not the only business to say its final goodbyes this year. The family-owned business Trees n Trends is planning to shutter its stores this year after 30 years. Trees n Trends has been offering 25 to 50 percent off discounts on products from all six locations and will continue operating until everything is sold. Joann shuttered all of its stores after filing for bankruptcy protection for the second time in two years earlier this year. The once-popular craft store was a family-owned business from 1943 until 2011, when it was purchased by Leonard Green & Partners. It went on to suffer financial difficulty for several years before shuttering its final locations in May. Outside of retail, Hector's Café and Diner in New York City served its final customers on July 18. The diner was a prime restaurant in the meatpacking district frequented by crew members from Law & Order. Its financial situation and changes in the neighborhood were too much for the business to handle, and its final blow was the city's decision to expand the Whitney Museum and build large offices and a 600-foot residential tower.
Daily Mail
03-07-2025
- Business
- Daily Mail
Trees n Trends to close all stores after 30 years in business
Trees n Trends is the latest retailer to become a fatal victim of the retail apocalypse . The Wallace family announced the chain will officially be going out of business in a Facebook post on June 28. The owners opened the first gifts and home décor store in 1992 and currently operate six locations in Arkansas, Kentucky, Missouri, and Tennessee. Now that each location will shutter, the stores are undergoing liquidation sales full of items available for 25 to 50 percent off. The chain also adjusted its store hours, opening Monday through Saturday from 10:00 am to 6:00 pm and closing on Sundays. A member of the Wallace family explained more details in a video to saddened customers , and confirmed the stores will be closed once there's nothing left to sell. All sales are final, and the stores will only be accepting cash or card payment methods. Although the stores will be shuttering, new merchandise will be arriving in stores this week, including seasonal items. Trees n Trends is famous for offering various product categories such as furniture, home décor, accessories, and women's clothing. The business had been operating under the name Silk Tree Factory before the Wallace family opted to change the business name. During the early years, Trees n Trends' product line mainly consisted of bushes, stems, greenery, wreaths, and trees manufactured by drilling and potting. Since the closure news leaked, social media users have been sharing their memories of visiting or working at one of its locations. 'So sad, I have shopped there since it opened its doors as Silk Tree Factory. You will be missed, no other store comes close to being as nice as this store!!,' a Facebook user wrote. 'I learned so so much from Joe and all the leaders. I hold a special place in my heart for this company,' a former employee responded. 'It's unfortunate that the store won't be carrying on for future generations but while the good run lasted, we were blessed to have a wholesome store family operated by Grace... Sad to see it go,' another person commented. It's unclear what the family plans to do next, but they praised its loyal customers, workers and the 'hand of God' for helping them be successful for three decades. Trees n Trends is one of the rare retailers to always be a family-owned business before store closures. Joann started as a family-owned chain before it became public and acquired by Leonard Green & Partners. The later went from a craft empire, to a chain that fell from grace, closing all its locations after its second bankruptcy filing in two years. Badcock Home Furniture & More was a family-owned chain founded in 1904 before it was acquired by Franchise Group Inc. in 2021. By July 2024, the company filed for bankruptcy with over $1 billion in debt, and shuttered its remaining 380 stores soon afterward . Some stores have opted to perform mass closures and bankruptcy filings due to issues of adjusting to tariffs, including At Home, a HomeGoods rival that started shuttering stores before filing for bankruptcy protection in June .
Daily Mail
03-07-2025
- Business
- Daily Mail
Beloved family-owned home decor chain decides to close all stores after 30 years in business
Trees n Trends is the latest retailer to become a fatal victim of the retail apocalypse. The Wallace family announced the chain will officially be going out of business in a Facebook post on June 28. The owners opened the first gifts and home décor store in 1992 and currently operate six locations in Arkansas, Kentucky, Missouri, and Tennessee. Now that each location will shutter, the stores are undergoing liquidation sales full of items available for 25 to 50 percent off. The chain also adjusted its store hours, opening Monday through Saturday from 10:00 am to 6:00 pm and closing on Sundays. A member of the Wallace family explained more details in a video to saddened customers, and confirmed the stores will be closed once there's nothing left to sell. All sales are final, and the stores will only be accepting cash or card payment methods. Although the stores will be shuttering, new merchandise will be arriving in stores this week, including seasonal items. The Wallace family revealed the stores will close as soon as all products are sold Trees n Trends is famous for offering various product categories such as furniture, home décor, accessories, and women's clothing. The business had been operating under the name Silk Tree Factory before the Wallace family opted to change the business name. During the early years, Trees n Trends' product line mainly consisted of bushes, stems, greenery, wreaths, and trees manufactured by drilling and potting. Since the closure news leaked, social media users have been sharing their memories of visiting or working at one of its locations. 'So sad, I have shopped there since it opened its doors as Silk Tree Factory. You will be missed, no other store comes close to being as nice as this store!!,' a Facebook user wrote. 'I learned so so much from Joe and all the leaders. I hold a special place in my heart for this company,' a former employee responded. 'It's unfortunate that the store won't be carrying on for future generations but while the good run lasted, we were blessed to have a wholesome store family operated by Grace... Sad to see it go,' another person commented. It's unclear what the family plans to do next, but they praised its loyal customers, workers and the 'hand of God' for helping them be successful for three decades. All sales are final and can only be purchased with cash or card Trees n Trends is one of the rare retailers to always be a family-owned business before store closures. Joann started as a family-owned chain before it became public and acquired by Leonard Green & Partners. The later went from a craft empire, to a chain that fell from grace, closing all its locations after its second bankruptcy filing in two years. Badcock Home Furniture & More was a family-owned chain founded in 1904 before it was acquired by Franchise Group Inc. in 2021. By July 2024, the company filed for bankruptcy with over $1 billion in debt, and shuttered its remaining 380 stores soon afterward. Some stores have opted to perform mass closures and bankruptcy filings due to issues of adjusting to tariffs, including At Home, a HomeGoods rival that started shuttering stores before filing for bankruptcy protection in June.
The Sun
13-06-2025
- Business
- The Sun
Iceland to close two major stores starting in DAYS
SUPERMARKET chain Iceland is closing two stores starting in days as shoppers share their devastation. The frozen food specialist is shutting a location in Margate on the Kent coast on June 21. 1 Meanwhile, a further branch will close for good in Inverness, Scotland, on July 12. The retailer said in a statement that staff at both sites have been offered roles at surrounding stores "where possible". But news of the closures has still been met with heartbreak from locals and shoppers. One, posting on Facebook about the Margate closure, said: "Margate is losing everything bit by bit." Another added: "Can the town centre get any worse with empty buildings." Commenting on the Inverness branch shutting, one shopper said: "Very sad to hear this news." Another chipped in: "I'm so gutted." The closure of the Inverness branch means there will no longer be any Iceland stores in the Scottish city. The nearest Iceland store will be in Aberdeen while there is a Food Warehouse, run by Iceland, in Inverness's Telford Street. It's not the first store closure made by Iceland in the past few months. Britain's retail apocalypse: why your favourite stores KEEP closing down It pulled down the shutters permanently on its site in Welling at the start of the year. A site in Borehamwood and another in Exeter permanently shut around the same time. The latest closures means Iceland has shut more than 20 stores since the start of 2023. It's worth bearing in mind retailers often shut branches in underperforming areas and open them where they think they'll get more footfall and sales. For example, it's not all bad new for Iceland as in 2024 it announced plans to open more of its Food Warehouse format stores across the UK. Food Warehouse stores, run by the Iceland Foods Group, are generally larger than Iceland shops and usually found in retail parks. OTHER RETAIL CLOSURES The retail sector has struggled in recent years due to the onset of online shopping and lockdowns during the coronavirus pandemic. Higher inflation since 2022 has also hit shoppers' budgets while businesses have struggled with higher wage, tax and energy costs. The Centre for Retail Research has described the sector as going through a "permacrisis" since the 2008 financial crash. Figures from the Centre also show 34 retail companies operating multiple stores stopped trading in 2024, leading to the closure of 7,537 shops. This was the highest number of stores affected in a calendar year since the Centre started collecting this data in 2007. On top of these more than 7,500 stores, over 11,000 independent shops closed in 2024. This is in addition to almost 7,800 independent stores that closed in 2023. RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce showed that more than half of companies planned to raise prices by early April. A survey of more than 4,800 firms also found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020. .
