Huge wireless carrier set to close four 'signature' stores

A HUGE phone carrier is preparing to close down four main stores soon.

T-Mobile's "Signature" stores were created to impress customers with new product launches and provide them an ultimate experience.

The problem is that the monthly rent of each Signature store is around $500,000 or more per month, as reported by MSN.

T-mobile can save approximately $24million a year by closing the four Signature stores down.

The good news is that New York and Las Vegas will keep their stores open.

Here is a list of stores that will shut down soon.

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1. CHICAGO

T-Mobile Magnificent Mile will be closing its doors soon, but it is unclear when.

The U.S. Sun reached out to T-Mobile Magnificent Mile, but they declined to comment.

The store is located at 700 N Michigan Avenue, Chicago, Illinois.

Another store is set to close in Miami, Florida.

The store's address is 738 Lincoln Road, Miami Beach, FL 33139.

A popular tourist spot in California is ready to close its doors too.

Santa Monica's T-Mobile Signature store will be leaving the area this year.

The store is located by Santa Monica beach at 1410 3rd Street Promenade.

An additional store to leave the west coast in located in San Francisco.

The store is at 1 Stockton Street, San Francisco.

The U.S. Sun has reached out to T-Mobile headquarters for further comment.

It's not just T-Mobile that's closing several stores down to reserve capital.

Due to the Covid-19 pandemic, many companies faced financial obstacles in the past few years.

For instance, Bed Bath & Beyond has been trying to avoid filing for bankruptcy.

They are set on closing 150 stores in the US by the end of March.

More than 50 closures had already been announced, but another 62 locations were confirmed in February.

The store owes $550million to JPMorgan Chase and another $375million to lender Sixth Street.

Another company facing economic challenges is Party City as they recently filed for Chapter 11 bankruptcy protection.

The company plans to close down over 20 stores, but there will be potentially more closures coming up.

Since the pandemic, Party City faced declining sales as it relied on social gatherings to generate revenue.

At the same time, the soaring inflation worsened the company's financial health.