What to Know
- Topshop will shut the doors to all 11 of its U.S. stores by June 29, and everything must go -- even the furniture and fixtures.
- New York shoppers have just days to mourn the loss of this beloved brand and cop outrageous deals that feel more like steals.
- A customer compared the Fifth Avenue flagship location to a TJ Maxx, saying it has turned into a bargain-hunting store during its last days
Topshop is closing all 11 of its U.S. stores and everything must go -- even the furniture and fixtures.
New York shoppers have only a couple more days to buy the brand in store and cop some of the deals. The retailer's Fifth Avenue store will close for good on 8 p.m. Saturday. To get rid of everything it's offering 90 percent off jewelry, 80 percent off select accessories and an additional 50 percent off purchases of four items or more. They’re even inviting you to buy the rack from which you grabbed the items.
In May, TopShop parent company Arcadia Group filed for bankruptcy in the United States due to “changing consumer habits and ever-increasing online competition,” CEO Ian Grabiner said in a statement. Now the London-based retailer is liquidating the last of the Topshop Topman stock in an attempt to cut losses before heading home to the UK, which is also losing 23 stores.
Despite the deals, some hopefuls that entered the Fifth Avenue location, like Rachel Reisig, 27, left the story empty-handed and little disappointed.
Reisig said the store, which was once a fashionista’s wonderland of trendy, somewhat pricey clothing, was now a wasteland for big bargains and few quality options. “I probably spent like a minute in there and then walked right back out because it looked like a bargain-hunting store,” Reisig said. “It looked terrible. It looked worse than TJ Maxx.”
Another obstacle that frustrated the non-Maxxinista was the fact that all purchases are cash-only. While Topshop’s current prices are relatively low, many shoppers like Reisig do not carry enough cash to complete such purchases. A loyal customer, Resig said she bought most of her Topshop items through department stores, like Nordstrom, as opposed to the brick-and-mortar store.
Lucky for her, Topshop and Topman will continue to be available through Nordstrom and the brand’s online store.