With the rise of online shopping and incentives like Amazon Prime’s free two-day shipping and Amazon Prime Day, many retail chains continue to be forced to reinvent themselves or close their doors. With several more stores added to the ever-increasing list of bankruptcy filings, here’s how Alabama will be affected.
Gymboree – The children’s clothing chain has filed for Chapter 11 bankruptcy and will be closing stores across the nation in an effort cut spending. Seven locations in Alabama will be closing, including locations at the Galleria and Outlet Shops of Grand River.
Payless – Payless has already closed six locations in Alabama, and 2 more locations may be getting the axe pretty soon. In Birmingham, the Parkway East location is already set to close, and the Riverchase Galleria location may also be closed.
RadioShack – While RadioShack stores use to be seen everywhere, the tech store has nearly become obsolete. Two locations in Madison and Mobile are set to close soon.
J.C. Penny – The retail clothing chain is one of the many to fall victim to online clothing shopping. With talks of bankruptcy on the horizon, four Alabama locations will be closing or have already closed, including locations in Auburn, Bessemer, Gadsden, and Jasper.
Sears and Kmart – The Dothan and Muscle Shoals Kmart locations are set to close soon, leaving only six Kmart stores left in Alabama.
These are just a handful of stores that have been affected by the recent perils that retail shopping chains face. While we have seen recent improvements in the manufacturing sector of the economy, major technological changes have led to a sharp decline in the retail sector. As more stores are forced to turn out the lights, these chains must reinvent themselves to meet the demands of convenience-seeking and deal-seeking shoppers. As this trend continues, many jobs are at stake for the retail industry.