The company plans to rebrand entirely, so it will close down stores in preparation. It has been rumored that their rebranding efforts have cost them a gargantuan $240 million, so it is clear that the company is not struggling financially.
Another iconic chain retailer lost to a multitude of reasons. Malls are just not as vibrant as they used to be and online shopping dominates. While Guess as a brand is thriving, its stores are dwindling and e-commerce is growing.