Goth Kids Will Have to Shop at Penny’s

Whoops. They are closing a bunch of Hot Topic stores.

From the LATimes here:

Teen retailer Hot Topic Inc., struggling with weak sales and earnings, is cutting staff and closing 40 to 50 stores by early next year.

The City of Industry chain, which operates 680 Hot Topic stores and 155 Torrid stores for plus-sized teen girls, said it would cut about 14% of management positions as part of “a cost reduction plan to meet the challenges of the current environment.”

The company plans to shutter 15 Hot Topic locations and two Torrid stores in next two months, with the rest to follow next year.

Does this mean we can burn down Hot Topic?