We hate to break the bad news to you, but some of your favorite brands could be just months away from closing down.
Facing tough competition from online shopping, more than 5,000 retail stores from America's biggest brands have closed their doors this year. That has put some popular chains at risk of shutting down entirely.
After the Christmas season, when stores get their disappointing sales numbers back, many more store closures will be announced. Experts say to avoid buying gift cards for these 7 brands:
1. J.C. Penney
The department store chain worried investors by selling off a large part of its women's clothing inventory this year. Combine that with slowly shrinking sales, and it seems like J.C. Penney is circling the drain.
More than 100 J.C. Penney locations closed this summer to help the company compete with Amazon, but that might not be enough.
Here's another department store giant that seems to be on its last legs. Macy's still has over 700 locations, but the company shuttered 68 stores this year and plans to close another 34 (at least) in the near future. Those locations might be in your neck of the woods, so be careful about making big purchases there.
After 96 years in the electronics business, it seems like this chain might not make it to 100. While there were once more than 7,000 RadioShacks across America, there are now just over 600. Increased competition from Amazon and big box stores could make this RadioShack's last Christmas.