Topshop Is Closing All of Its U.S. Stores—Here's Why

It's a sad day for American fans of Topshop. As The Wall Street Journal reports, the UK-based retailer will be closing all of its remaining stores in the United States, which includes locations in Los Angeles, New York, Chicago, Las Vegas, and Atlanta. Additionally, Topshop's parent company, Arcadia Group, has filed for Chapter 15 bankruptcy in the U.S. The silver lining to the story: Topshop will still be shoppable online and through Nordstrom.

Per WSJ, Arcadia representatives cited a few specific challenges its stores were facing: the switch from in-store to online shopping, the pressure to discount items to keep up with competitors, and large volumes of product returns. Additionally, WSJ reported on other reasons behind the decision: "The company said its broader restructuring efforts will focus on driving digital growth, increasing business-to-business revenue and improving its infrastructure," WSJ explains. "Key to the restructuring will be resetting rents to sustainable levels and exiting unprofitable stores, court papers say."

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