Alamo Drafthouse filed for Chapter 11 bankruptcy on Wednesday March 3rd after having the majority of its 40 locations closed for almost a year due to the Coronavirus pandemic.
Of the current 300 stores Disney operates across North America, 60 locations or 20% of their footprint, will close by the end of the year. In their announcement, they said this was part of an effort to focus more on e-commerce.
Macy’s owned Bloomingdales has announced they are experimenting with smaller format stores called “Bloomies.” With a footprint less than 22,000 square feet, the first will open in Fairfax, VA this fall.
With concepts in New York, Las Vegas, Hong Kong, and Tel Aviv, Major Food Group (MFG) is entering the Miami market with at least 4 new restaurants in 2021. Carbone, which has developed a world wide cult-following, opened at the end of January near the southern tip of Miami Beach in the South of Fifth neighborhood.
As of February 24, 2021, Fry’s Electronics began officially winding down operations and closed their e-commerce business. Their locations were known for excessive levels of sci-fi detail, the most notorious being an Aztec themed location in Arizona and a NASA themed location in Houston.
The RealReal has opened 2 new locations. Courtney Hawkins, vice president of retail at The RealReal, said they saw a significant opportunity in Southern California after opening their West Hollywood location. This brings The RealReal’s total location count to 13, including 4 locations in New York and 5 locations in California.
With close to 1900 locations across the United States, landlords with Gamestop locations have been watching the stock market closely over the past few weeks. Although Gamestop has not fundamentally changed the way they do business, their stock prices have soared by 2,752% since January 1.
Retailsphere is once again changing the way you search for new tenants. This time, we’ve updated our search features, adding multiple ways to get to retailer data faster and more advanced search options.
Charlotte, NC based Belk officially files for Chapter 11 bankruptcy after 190 years in business. Sycamore Partners, the brand’s owner said that Belk will operate normally during the bankruptcy process.
CFO Mike Mathias recently told investors that American Eagle Outfitters (AEO) would close 200 - 250 American Eagle locations over the next 3 years. The majority of these locations are mall based, with around 50 locations already slated for closure this year. Mike Mathias, AEO CFO, said that these locations were "chosen based on lease tenure, mall profile, proximity to other stores, and customer engagement levels.”