Two More Retailers With Corridor Locations to Permanently Close Stores
State's restrictions may be easing up across the country, allowing businesses to open back up, but some businesses may not be able to.
It seems like at the same time we're hearing about more restrictions being lifted and businesses opening back up, we're seeing many close up shop for good. Earlier this week we learned Dillard's and Pier 1 Imports we're likely to close locations. Now, two more retailers with Eastern Iowa locations are set to permanently close stores.
According to USA Today, L Brands which owns retailers like the women's lingerie store Victoria's Secret and Bath & Body Works has plans to close stores after a decline in sales. The parent company reported a 37% decline in sales last quarter, as the majority of stores were closed due to COVID-19. Due to the recent loss in revenue, L Brands is set to close 235 of its 1,091 Victoria's Secret stores, as well as 50 Bath & Body Works throughout the U.S., according to USA Today.
Our nearest Victoria's Secret and Bath & Body Works locations in the Corridor are located at Lindale Mall in Cedar Rapids and Coral Ridge Mall in Coralville. It is unclear at this time if any of our local stores will be affected. But, let's hope not. These are two solid stores that, in my opinion, are staples of every mall. Where would we get all of our yummy smelling candles and bath soaps!? Stay up to date with the latest local news with our free app.