Pins matching tag:"Store Closure"

The chain told its staff it would wind down or sell all 735 of its US stores, ending a company that had defined the category-killer format for forty years. A leveraged buyout in 2005 left it carrying about $5bn of debt it never worked off.

IKEA shut its only Tennessee store after nearly a decade, taking 114 jobs with it. The company called the closure part of a strategic shift, decided on a review of "market share, business performance, cost structure, and overall optimization of physical assets"; Mid-South customers keep online ordering and FedEx pickup.