Big waves of pending store closings from two national retailers could free up some real estate around Richmond.
Dots, a discount women’s fashion and accessories store, announced recently it will close all of its 359 stores nationwide as part of a bankruptcy liquidation. Those closures include two local storefronts at the Shops at Willow Lawn and White Oak Village.
Both stores, at 1601 Willow Lawn Dr. and 4501 S. Laburnum Ave., are holding going-out-of-business sales.
Dots owner Irving Place Capital put the chain in bankruptcy in January and a bankruptcy judge chose Boston-based Gordon Brothers Group to handle liquidation of chain.
Neither Irving Place nor Gordon Brothers would say when the Richmond stores will close their doors for good.
Willow Lawn is owned by Maryland-based Federal Realty Investment Trust. White Oak Village is owned by American Realty Capital Properties, Inc., in New York. Leasing representatives for both companies did not return calls for comment on the future of the Dots spaces.
Also looming is the planned closure of 1,100 RadioShack stores nationwide. The troubled electronics chain announced the closures this week after it reported a 2013 loss of $400 million.
There are about 23 RadioShack locations spread across the Richmond region. RadioShack has 144 stores in Virginia.
The company said it is not yet releasing specific store locations slated for closure.
The closures will include underperforming stores, according to a Wall Street Journal report, and account for about a fifth of the chain’s 5,200 stores.
Read more: Click here for a MarketWatch report that questions whether RadioShack might be the next Circuit City.