Second-hand store chains have been hit hard by the downturn in the stock market and have been struggling to stay afloat.
The brand is struggling to compete against high-end stores like the Wal-Mart, Best Buy and Target that are more than two-thirds owned by Walmart, Target and Home Depot.
The second-oldest chain, Target, has been hit with an investigation into its practices, and last year it was fined $200 million by the Securities and Exchange Commission.
In the United States, second-handed stores are mostly owned by the big retailers and have an even wider array of products and services, including home cleaning and home security.
But that’s not the case in other parts of the world, and even the best-loved brands are struggling.
In Europe, where second-hands are almost nonexistent, brands like Home Depot, Target or Nordstrom have been trying to grow their business.
However, these brands have seen sales plunge by up to 25% over the last two years.
They’re struggling to keep up with the growth in the new second-home market, especially in London.
The company is hoping to sell off assets and refocus its operations in the United Kingdom.
This would help boost profits and help them meet new growth targets for the next three years, the company said in a statement on Thursday.
In Asia, China, the world’s second-largest economy and second-biggest consumer of clothes, shoes and home goods, is a prime market for second-homes, particularly those with the “green” label.
As a result, brands with green labels have seen a huge spike in sales.
Last year, sales at Second Hand stores jumped by more than 3% in China, and they jumped more than 30% in Hong Kong.
Second-homed products are also more affordable, making them a popular choice among people who aren’t wealthy.