FINAL sales are now underway for a beloved retailer set to leave its iconic shopping strip after two decades.
The beloved shopping mall has taken several heavy losses since the pandemic, and there isn’t long left until it loses another big name.
Final sales are now underway for a beloved retailer set to leave its iconic shopping strip after two decades[/caption]
Orvis, a retailer known for selling things like fishing gear, activewear and some animal products, has announced it is closing one of its locations.
The store is the retailer’s only Chicago storefront location on the famous Magnificent Mile.
The Magnificent Mile is commonly thought of as Chicago‘s main shopping district.
Orvis is shutting the location on Ontario Street on July 24, giving shoppers a short amount of time to visit.
There are currently closing down sales in place, with plenty of deals to be found.
Orvis has named a few reasons behind its decision to close down, mainly changing consumer habits.
The company said: “Due to the changing retail landscape on the Magnificent Mile, Orvis has made the difficult decision to close our Chicago location.
“We are grateful for the support of our associates, customers and the local community over the years.”
The Magnificent Mile has seen many shops go in recent years, mainly since the onset of the pandemic.
But this isn’t to say that the strip isn’t still generating buzz with new storefronts.
Most recently, the Harry Potter shop popped up on the Magnificent Mile and sparked great consumer interest.
The store has been open since April 10.
DEPARTMENT DITCH
In more store closure news, The US Sun recently reported that Renys Department Store is set to close down its spot in Portland, Maine.
There is no date for shoppers to brace for just yet, but it is expected to be sometime around the expiration of its April 2026 lease.
US braces for ‘45,000 store closures’
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
This Renys has been operating since 2011, and can still be found on Congress Street for a limited time.
The closure is set to impact several employees, but they have been given the chance to relocate to another Renys.
Holly Margaritis, the company’s human resources coordinator, said: “Our lease is up next April, and we won’t be renewing in the Portland location.
“We just spoke with the staff at the store yesterday.”
“Renys is fine.
“At this point in time, we don’t really want to make a statement in regards to that.
“It’s fairly new to all our staff, so we want to respect their feelings and the situation that they’re in.”
A definitive reason behind the decision not to renew the lease has not yet been given.
