Outdoor Voices, a company that specializes in athleisure, has announced that it will be closing all sixteen of its stores around the country in order to transition to an all online service,
as reported by The New York Times. Through the use of Slack, people working in retail were informed on Wednesday that they will soon be laid off
The statement said, "Outdoor Voices is embarking on a new chapter as we transition to an exclusively online business." At the same time, the company
informed its employees that it intended to close all of its locations by Sunday, and that any pricing that were offered in-store would be reduced by fifty percent
A couple of workers reported to the Times that they were taken aback by the news and that they had not been offered any form of termination. An offer that was
made to an employee to continue working until the end of the week for a sum of $500 was described as feeling like a blow to the face by that person.
In 2012, the workout and lifestyle brand was established, and it has since garnered millions of dollars in funding from investors
which has resulted in its valuation reaching $110 million in 2018. The company's valuation, on the other hand, fell to $40 million by the year 2020