Why TJ Maxx and Marshalls is closing down in these major cities
TJ Maxx and Marshalls have announced the closure of several locations across the US.
A TJ Maxx location has already closed in St Paul, Minnesota. Several other closures will follow in 2024
The workers impacted by the closure of the St Paul store were offered jobs at other locations in the city.
The company is reassessing real estate strategies. The Chicago locations will close on Jan 6.
This is due to the advent of online shopping, which posed a serious challenge to their stores.
The TJ Maxx store in Brooklyn is closing as well. The store employs 69 non-union workers.
Both retailers have more than 1000 locations in multiple cities across the US.
TJX is the parent company of TJ Maxx and Marshalls and has a net worth of $104.11B.
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