Brick-and-mortar retailers have been hit particularly hard by shutdowns and stay-at-home orders, with another company filing for bankruptcy protection seemingly every week.
Many of these retailers plan to survive by restructuring, but a handful have already announced plans to liquidate their assets and go out of business.
At the following retailers, store-closing sales or going-out-of-business sales are underway now or about to start.
Pier 1 Imports
Pier 1 is calling it quits after filing for bankruptcy protection, with plans to shutter all stores and websites.
Stores will begin their going-out-of-business sales as they reopen from coronavirus shutdowns, the retailer says. At Pier1.com, liquidation is already underway, with everything now on sale and discounts currently as high as 30%.
Whether you shop a Pier 1 going-out-of-business sale at a store or online, keep in mind that all sales are final: You won’t be able to return items you purchased during a liquidation sale.
Also, the retailer says it will accept gift cards online only until July 2, and in stores for only 30 days after each store reopens: So, if you have Pier 1 gift cards, be sure to spend them by July 2, or they will become worthless.
Locations: Use the store locator to search for a store near you. Consider calling ahead to confirm it has reopened.
Stage Stores, the company behind Stage and several other retail chains, also has started winding down operations after filing for bankruptcy.
At Stage, everything is currently 20% to 50% off.
When shopping at any Stage Stores chain, including the next retailer on this list, be sure to read tags in full. If a product is marked “final sale,” know that you won’t be able to exchange or return it, per the Stage Stores return policy.
If you happen to have gift cards to a Stage Stores chain, spend it ASAP. The company’s recent business update FAQs state:
“We expect to honor existing customer programs, including gift cards and returns, for 30 days after the opening of a store. We encourage you to use them while you can.”
Locations: There are Stage locations in most states, and all of them have reopened.
At Gordmans, which is also under the Stage Stores umbrella, everything is currently 10% to 40% off.
Also, note that the clock is ticking for Gordmans gift cards: They expire 30 days from the date Gordmans stores reopen, according to a recent Gordmans blog post.
Locations: Gordmans has stores in most states, and all of them have reopened.
While J.C. Penney also has filed for bankruptcy protection, it’s not going out of business. Instead, it plans to weather hard times by restructuring.
As part of that process, 136 J.C. Penney stores will close permanently, and store-closing sales began at these locations on June 17.
Locations: The stores that are closing down are spread out across more than three dozen states. The address and phone number for each of these locations are listed on J.C. Penney’s blog.