Definition, Meaning & Synonyms

store-closure

noun

/stɔːr ˈkloʊʒər/

Definition

The act of permanently shutting down a retail establishment or business location.

Examples

After several years of declining sales, the retail chain announced the store closure, leading to the loss of hundreds of jobs.
The sudden store closure left many customers shocked, as they had not been informed ahead of time.
Store closures are often a sign of economic downturns, affecting both large and small businesses.

Meaning

Store closure refers to when a business decides to cease its operations at a specific site, which can be due to various reasons such as financial difficulties, changes in the market, or strategic restructuring.