14. Victoria’s Secret
Year Established: 1977
Store Closures: 50 Branches*
The business launched its spinoff Victoria’s Secret Pink, which sells clothing and sleepwear, and is recognized with bringing stylish, hip lingerie into the general public. Victoria’s Secret chose to concentrate just on lingerie, thus Pink had to close first. Sales of Victoria’s Secret, which surpassed all other lingerie retailers in the US in 2019, have been steadily declining. In order to meet the demands of e-commerce, the company closed more than 50 stores in 2019 and 250 in 2020 in order to maintain revenues. We would anticipate to have a significant number of additional store closures beyond the 250 that we’re targeting this year, which means there will be more in 2021 and maybe a little more in 2022, CEP Stuart Burgdoerfer told ABC News.
14. Victoria’s Secret
15. Pottery Barn
Year Established: 1949
Store Closures: 3 Branches*
Pottery Barn, a Williams-Sonoma company, revealed before the start of 2020 that at least one of its retail locations would be closing. As of right now, it is uncertain how many additional sites are expected to close before the end of the year. The San Francisco-based company is known for its stylish, trendy home furnishings. Unfortunately, it’s undeniable that Pottery Barn is currently having trouble in the market, even with its praise from pop culture. The Denver Post first brought attention to the issue in 2017, reporting that the business was “struggling to adapt” to a changing “retail landscape.” Because the company’s furniture is not apartment-sized, a sizable portion of potential customers have been excluded.
15. Pottery Barn
