[ad_1]
Forever 21 Inc., known for its fashionable and affordable clothing, and video game retailer GameStop Corp.
The Los Angeles-based US group Forever 21 is preparing to close at least 100 stores as part of a restructuring deal that asks the national retailer to declare bankruptcy this month. announced Bloomberg. The company, 35, is working to align $ 75 million to fund its restructuring, with a plan to keep the company operating, while providing a way to pay its creditors.
In a statement, the company said it did not plan to file for bankruptcy on Sunday and intended to continue operating the "vast majority" of its stores in the US, according to Bloomberg.
According to the company's website, the fashion retailer has 11 branches in the Detroit Metro. It was not clear which of them, if any, will shut down.
GameStop, which operates more than 50 sites in the Greater Detroit area, plans to close up 200 underperforming sites in the world by the end of the fiscal year, according to a press release. . It was not known if Michigan sites would be closed.
The company's net loss was $ 415.3 million for the second quarter of 2019, compared to a loss of $ 24.9 million in the same quarter last year.
The closures are part of a move to reorganize as a "cultural center of the game", as it seeks to strengthen its digital platform and change its supplier-partner relationship to adapt to a new industry. video game in full swing, said the group in a press release.
GameStop, based in Grapevine, Texas, is testing new store designs with the goal of becoming a meeting place for gamers. Under the new general manager, George Sherman, the distressed channel adds sofas, vintage video games and tournaments to a handful of spots, Bloomberg announced.
GameStop and Forever 21 did not immediately send back inquiries about store closures.
With the rise of online vendors such as Amazon.com, traditional retailers are launching new strategies to stay relevant and leave the malls. The retail sector has closed more than 8,200 outlets this year, according to Bloomberg.
Foot Locker recently launched an interactive store concept called Power Store to appeal to the millennium market.
Earlier this year, Barnes & Noble, based in New York, opened a prototype bookstore in Rochester Hills, which offers a contemporary twist to its traditional stores with common seating options, new technology and a wider selection of cafes.
– Bloomberg contributed to this report.
[ad_2]
Source link