Maryland's Retail Landscape Suffers Another Blow with Store Shutdown
The retail apocalypse has struck another victim.
Popular retailer Soft Surroundings has filed for bankruptcy and announced it will close its stores. The women's apparel and accessories brand sought protection from creditors in the U.S. Bankruptcy Court and filed for Chapter 11 bankruptcy. The business employs almost 650 staff at its headquarters and stores.
Soft Surroundings is a curated retailer of women's apparel, home, shoe, and accessories merchandise. The business was founded in 1999 and opened its first store in 2005. It will close all 44 retail stores and move to online sales only as it sells its online business to Coldwater Creek. This will include a store in Maryland.
"Shifts in the competitive landscape, a move towards online channels, the pandemic, and increased costs of goods and services due to inflation all impacted the company’s financial position,” Chief Restructuring Officer Curt Kroll
Maryland store to close
Last year, the chain closed twenty stores, and the remaining 44 stores will close by February 2024. It filed a Worker Adjustment and Retraining Notification Act (WARN) notice in July, stating that it would lay off 79 workers at the company's distribution center.
Below is the list of stores in Pennsylvania that will close.
- 118 Shawan Rd., Suite E. Cockeysville, MD 21030
It has been a tough year for retail businesses, with several large chains filing for bankruptcy and closing stores, including Bed Bath & Beyond, Tuesday Morning, Party City, Christmas Tree Shops, David's Bridal, and Mitchell Gold + Bob Williams.
Even retail giants such as Walmart have been forced to close stores.
This is a developing story; I will update readers with more information as it is announced.
Are you disappointed to see this business close all of its stores? Are you concerned about the number of retail stores closing? Do you fear we are heading towards a recession?
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