Pep Boys to Close Stores in 2021 Including Two South Jersey Locations
Pep Boys joins the growing list of retailers with stores closing in 2021. The iconic auto chain has been in business for 100 years.
The company is in the process of selling 120 of the 500 stores owned by billionaire Carl Ichan. There are 48 Pep Boys locations in New Jersey. South Jersey locations include Absecon, Egg Harbor Township, Glassboro, Turnersville, Cinnaminson, Vineland, Cherry Hill, Blackwood, and Berlin.
The Philadelphia Inquirer reports that two South Jersey Pep Boys locations in Audubon and Stratford will be closing their doors. Both are located in Camden County. According to the report deep discounts are taking place at both stores already and both stores could open under a different store brand later this spring.
Ichan acquired Pep Boys in 2015 for $1 billion dollars. The business has been suffering from poor and declining sales since the takeover by the billionaire.
According to Business Insider, more than 1,000 stores have closed their doors for good in 2021. Here's a list of just some of the stores closing this year:
- Disney- 60 stores
- Best Buy- 5 Stores
- Francesca's -140 stores
- Macy's-45 stores
- Bed Bath & Beyond 43 stores
- The Children's Place- 122 stores
- Fossil- 65 stores
- Justice- 200 stores
- Goodwill- 8 stores
- DSW- 65 stores
- H&M - 350 stores