At the same time, there are government supports which have helped keep businesses afloat at least for now. Stores will remain closed for 2 weeks, and operations will be reassessed at that time. Victoria's Secret is closing 250 stores in shopping centers, malls and other locations in the U.S. and Canada. The retailer also says it will begin rolling out an internet-based home-delivery service starting in December. This will be detrimental to most hospitality tenants. ... owned brands" will launch in 2021. CCAA is limited to those with $5 Million or more in liabilities and the cost of a restructuring would be prohibitive to already cash strapped retailers. Into the fall, I think we’re going to see more of this. Here are the stores Lowe’s is closing in Canada in the new year. Hudson's Bay is closing down stores across Canada due to COVID-19. The parent company of Kay Jewelers and Zales said it would close more than 150 stores locations in fiscal 2020 amid declining store traffic. Craig Patterson, Editor-In-Chief and Founder of Retail Insider, described the trend in store closures as “catastrophic”. We’re going to see more bankruptcy filings. Aéropostale. Chico’s. Unsubscribe anytime or, Sign up for our free email newsletter so you’re always in the know.