Victoria’s Secrets May Close Capital Region Stores Forever
It seems every few days a retail store is either filing for bankruptcy or going out of business for good. Another store has just announced that it will be closing hundreds of its stores because of the decline in sales due to the coronavirus pandemic. According to thecut.com, the next retail store that will be closing two hundred fifty of its stores is Victoria's Secret and Pink. The lingerie retail store was in a financial decline before the coronavirus pandemic, but it certainly hurt the stores.
The United States and Canada currently have one thousand locations in North America. It looks as if the company will have to close around two hundred forty of their locations with the majority being in the United States.
There is no word which Victoria's Secret and Pink stores will be closing. There are three in the Capital Region. Victoria's Secret is located in Crossgates Mall, Victoria's Secret and Pink location in Colonie Center, and Victoria's Secret and Pink store in Saratoga Springs. All three or none of these may be closing. But if they were, the company said it will happen by the end of the year. They also say that there may be more closures to follow in 2021 and 2022.
The announcement of the Victoria's Secret stores follows a number of retail stores that have announced bankruptcy and store closures. Just recently, Pier 1 Imports announced that it will close all of its stores and go out of business. JC Penney announced that it will file bankruptcy and close hundreds of its stores across the country.