Fresno clothing retailer is closing some stores, filing for bankruptcy due to COVID-19

The coronavirus pandemic has caused Patrick James, the Fresno-based men’s clothing retailer, to file for bankruptcy with plans to close stores.

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The company has sold upscale men’s clothing – like Tommy Bahama and its own line of shirts and jackets – since 1962.

It has 11 stores in California, Nevada and Arizona, plus a temporary pop-up store in River Park near Ruth’s Chris Steak House through the end of the month.

The company announced last week that it filed for Chapter 11 bankruptcy. It’s a reorganization, not a liquidation.

Patrick James has more than $7 million in debt, and its bankruptcy was filed under a special designation for small businesses during the coronavirus pandemic.

The business was doing “extremely well” before COVID-19 hit, according to Patrick James’ bankruptcy attorney, Hagop Bedoyan of McCormick, Barstow, Sheppard, Wayte & Carruth.

“With the pandemic and closing of doors as mandated by

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Clothing Chain H&M With 22 NoVA, DC Sites To Close 250 Stores

VIRGINIA — H&M, a low-cost fashion retailer based in Sweden with stores in many northern Virginia malls and the District of Columbia, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, many mall stores in Virginia do not open until 11 a.m. and close an hour or more earlier than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and

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Fashion Retailer H&M With 35 FL Locations To Close 250 Stores

FLORIDA — H&M, a low-cost fashion retailer based in Sweden with a heavy mall presence in Florida, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, some mall stores in Florida have shorter hours than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and malls were shut down by the coronavirus outbreak, traditional brick-and-mortar establishments were losing revenue and

Read More

Fashion Retailer H&M With 16 GA Locations To Close 250 Stores

GEORGIA — H&M, a low-cost fashion retailer based in Sweden with a heavy mall presence in Georgia, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, many mall stores in Georgia do not open until 11 a.m. and close an hour or more earlier than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and malls were shut down by

Read More

Fashion Retailer H&M With 22 NoVA, DC Sites To Close 250 Stores

VIRGINIA — H&M, a low-cost fashion retailer based in Sweden with stores in many northern Virginia malls and the District of Columbia, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, many mall stores in Virginia do not open until 11 a.m. and close an hour or more earlier than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and

Read More

Fashion Retailer H&M With 16 MD Locations To Close 250 Stores

MARYLAND — H&M, a low-cost fashion retailer based in Sweden with a heavy mall presence in Maryland, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, many mall stores in Maryland do not open until 11 a.m. and close an hour or more earlier than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and malls were shut down by

Read More

Can’t use your gift cards? More stores are closing and have varying policies

PHOENIX — You see the “closing” signs at many shopping centers lately. More stores are going out of business as the pandemic has played havoc with their sales.

So, what does that mean if you have a gift card? Can you still use it? Well, that depends.

June Whisel did a lot of shopping at Stein Mart. The company is closing all of its stores and offering liquidation sales now.

Whisel recently found a gift card and tried to use it. “I’ve got $50 of their money in my hand and they refuse to honor it,” she says. Instead, she says the clerk pointed to a sign that showed the deadline to use gift cards had passed.

While gift cards should be treated just like cash, the rules can change if a business closing, depending on if a bankruptcy court takes over or if the business is sold.

Pier One

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Fashion retail giant H&M to close 250 of its stores around the world as the pandemic sends shoppers online



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Fashion giant H&M said it is closing 250 of its stores globally next year as the Covid-19 pandemic continues to accelerate a major switch to online shopping. 

H&M, which is the world’s second biggest clothing retailer, said that around a quarter of its 5,000 stores are able to renegotiate or exit contracts next year, allowing it to shut around five per cent of its shops for good.

The locations of the shop closures, how many jobs will be axed and whether or not any UK stores will be affected, remains unclear. 

The update came as the Swedish company said it had seen trading continue to recover in September, but sales remained 5 per cent lower than at the same point a year ago.



Shutting shops: Fashion giant H&M is closing 250 of its stores globally next year


© Provided by This Is Money
Shutting shops: Fashion giant H&M is closing 250 of its stores globally next

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