Correction: This article has been revised to correct the following information. World News is expected to close in February, not January, and has not filed for bankruptcy.
ST. LOUIS COUNTY, Mo. — Two St. Louis-area stores announced they will soon be closing their doors.
World News in Clayton expects to close by the middle of February. The store, which first opened in 1967, cites the pandemic and declining sales as the reason for closing.
Meanwhile, Brooks Brothers also plans to shutter its store in Plaza Frontenac on Jan. 25, but its outlet store in Chesterfield will remain open.
Peter Boumgarden, co-professor of practice for family enterprise at Washington University, said the ongoing pandemic has contributed to businesses closing across the country.
“In my view, if you look at the last couple of years, closures of small businesses are up,” said Peter Boumgarden, co-professor of practice for family enterprise at Washington University. “So, it’s about 200-thousand more closures than normal in the year from March of 2020 to March or April of the last year according to the Fed.”
Boumgarden said another factor to consider is retirees in their 50’s, 60’s, and 70’s leaving the workforce. But Boumgarden adds that businesses come and go.
“In a typical year you’ll see seven to eight percent of businesses go out of business,” he said. “So, it’s a relatively common occurrence across the country, and in St. Louis in particular. When you take it down to a personal level, one of the recommendations I would have for my small business owner friends is if you actually care deeply about the landscape of the small bookstores or restaurants and the like you care about, now is actually the time to go out there and support them.”