Reprinted from National Real Estate Investor
On Feb. 4, women’s clothing retailer Cache filed for Chapter 11. Through the bankruptcy, the chain plans to renegotiate leases and close a portion of its 218 stores. Cache’s announcement is the latest in a lengthy list of store closings announcements so far this year. Just a few days ago, Jones New York announced it plans to shutter 127 outlet stores and discontinue wholesale operations. And Kate Spade told the Wall Street Journal it would close its Saturday brand and Jack Spade stores, 28 in total.
According to ICSC, about 44 percent of store closings occur during the first quarter every year. In 2014, for example, 80 percent of the year’s total closings were announced during the first two quarters.