Over 200 Jared, Zales, Kay Jewelers Locations to Permanently Close
Another retail company is being hit hard by closures from the COVID-19 pandemic.
Bloomberg reports that Signet, the parent company of Kay Jewelers, Jared, and Zales, will be making permanent store closures across the globe. The company had temporarily closed all 2,800 of its stores when the COVID-19 pandemic caused shutdowns in most states. Now, some of those closures will become permanent.
According to Bloomberg, 150 North American locations will be closed. There will be 80 U.K. closures. However, Signet is also in discussions with store landlords about closing another 150 locations. That makes it 380 stores planning to close this year, with is 12% of their locations. It is not specified how many of each brand will be closing.
In May 2020, L Brands, the parent company of Victoria's Secret and Bath and Body Works, announced store closures.250 Victoria's Secret locations will permanently close and 50 Bath and Body Works locations will close. It was also announced that Pier 1 Imports will be permanently closing all locations. This came after the company had already filed for bankruptcy and planned to close some locations. The COVID-19 shutdown forced the company to close all locations.
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