In what hopefully isn’t an ongoing trend here on my blog, I recently found out about another retailer tanking. Esprit is shutting down its stores in the United States after losing 98% of its value last year, according to Bloomberg news. Much like the Syms story I wrote about a few weeks ago, I know several people that work for the company. Apparently, it really is a small world after all, even in a city of over 8 million people. Fortunately, I’ve found out that the organization appears to be doing right by them, so I feel confident that they’ll weather this transition in a good way.
While it’s perfectly normal that businesses go under, I believe that we don’t always get a real measure of what that may look like. These closures are more than the headlines they obtain. I took a few photos to support my case.
First are a few of an Esprit store, located on 34th Street in New York City: