store closings

San Francisco — Gap Inc. will close approximately 230 Gap specialty stores within the next 2 years, the San Francisco-based apparel chain announced in its fourth-quarter and 2018 fiscal year reports, released on February 28, 2019. Gap Inc. also revealed plans to spin off Old Navy, a brand it established in 1994, into a separate publicly traded entity, as well as to rebrand itself under a yet-to-be-determined name.

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Mooresville, N.C. — Lowe’s Companies, Inc. will close all 99 of its Orchard Supply Hardware stores by February 1, 2019. Founded in San Jose, Calif., in 1931 and acquired by Lowe’s in 2013, Orchard Supply Hardware operates locations in California, Oregon and Florida. Lowe’s is closing the stores to focus on its core home improvement business.

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Houston — Citing struggles stemming from the rise of e-commerce, fashion retailer Charming Charlie has filed for Chapter 11 bankruptcy protection. During the Chapter 11 process, which was filed on December 11, 2017, the Houston-based fashion retailer plans to restructure its debt while maintaining and operating a majority of its stores, as well as its online platform.

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