The popular British fashion brand filed for bankruptcy protection, while closing all 11 Topshop and Topman stores in the US.
The farewell after 10 years of staying with Topshop is a debt of 179 million USD.
The popular British fashion brand has had to see sales in the United States not meet expectations for a long time. It is not good to be in a place where guests are not safe. The 23 topshop shops in the country are also blind in the prospect of collapsing.
Not only Topshop, the retail sales of many apparel retailers fell nearly a fifth in the first quarter, according to Retail Metrics. The number of closed stores continued to rise. In less than half a year, more than 7,000 stores in the United States collapsed, approaching the record number of 2017. The cause of this decline is partly in the US-China trade war.
Dana Telsey, CJLawrence Retail Analyst, said: “The 25% additional tax on consumer goods such as clothing and footwear imported from China will push retailers into more difficult. They have to divide. share part of the increased costs with the manufacturer “.
The fierce competition from online retailers like Amazon is also putting pressure on traditional retail stores. Not only Topshop or Forever 21, a lot of big global department stores like Sears in the US or Debenhams in the UK have to announce that they will close dozens of stores under pressure from online commerce.