But the cascading nature of the recent closure announcements reflects a deepening crisis for retail. Some recent closure announcements include: • Home goods retailer Pier 1 Imports announced plans to close up to 450 locations, or nearly half of its stores. • Schurman Retail Group announced the closure of its 246 stores, including stationery and greeting card chains Papyrus and American Greetings. • Fashion retailer Express announced plans to close 91 locations, including 31 stores by the end of January and 35 by the end of January 2021. • Department store chains Macy's and J.C. Penney are closing 29 and six stores, respectively. • Bed Bath & Beyond is closing 60 locations, including 40 of its namesake locations.