Call it a sign of the times, traditional retail outlets are suffering. The decline of shopping malls has been a trend throughout the country for several years. Anchor department stores have left shopping malls to hone in on the online space.
Southeastern Wisconsin is not immune to this trend. Dismal holiday sales, and less foot traffic has left retail stores reevaluating themselves for 2017 and beyond.
The Limited, an Ohio-based company, is closing deeply discounting merchandise in preparation of closing its Brookfield Square and Mayfair Mall locations soon.
The Milwaukee Journal Sentinel reports
The Columbus, Ohio-based company and its owner, private equity firm Sun Capital Partners Inc., haven’t officially said what is happening with the fashion chain.
But an employee at the Brookfield Square site, which is selling fixtures as well as the last remaining clothes, said the store would close. A Mayfair employee said that store would shut down Saturday.
Retail industry analyst Anne Brouwer said it seems The Limited is on the verge of succumbing to the pressure many retailers face today as consumer behavior and buying patterns change.
“It does appear that they may very well be looking at the end here,” said Brouwer, senior partner at McMillanDoolittle in Chicago.
For more on the decline of the traditional retail store, visit Milwaukee Journal Sentinel.