Is Tommy Bahama going out of business? Tommy Bahama is a lifestyle brand that offers various unique and enticing styles in women’s and men’s clothing, including swimsuits, beach gear, sportswear, footwear, accessories, gift, cocktails, and many more, along with home decor items.
This company was set up in August 1992 in the USA and owned by Oxford Industries Inc. In a nutshell, It is a complete “Island for lifestyle.” Tommy Bahama’s men’s and womenswear is considered an elegant luxury lifestyle brand and a bar and restaurant business.
But now it’s time to say goodbye to the luxurious lifestyle brand “Tommy Bahama.” The company has already shut down the stores for benefit. Although the company has more than 150 stores, restaurants, and bars worldwide.
Tommy Bahama’s original store was set up in Naples. Its largest store is 551 5th Avenue, Manhattan, New York, NY, U.S.
We don’t have an exact answer to these questions, “Why is Tommy Bahama Going Out Of Business?” and “Is Tommy Bahama Still There In 2023?” But we have some information that can explain what may happen.
To know what is going on, Let’s go through this blog post without giving it much thought! Let’s explore it further.
Is Tommy Bahama Going Out Of Business?
Yes! It was believed that the Tommy Bahama stores closed on September 2. Tommy Bahama closed its restaurant in The Market Common a few years back. To sum up, Tommy Bahama is a luxurious brand Made In The USA, and many of its stores are located in California, USA.
To get ownership of Tommy Bahama, Oxford Company paid a heavy amount, i.e., 325 million U.S. dollars, and signed an agreement.
A representative of the restaurant, Derek Beck, stated, “Yes! It was a surprise for all of us,” He continued, “We had a meeting with our employees this Saturday afternoon and have been hustling to put severance packages together and move as many of our people as possible into our other locations.”
Why Is Tommy Bahama Shutting Down Its Doors?
For Tommy Bahama lovers, this might be heartbreaking as they will read about its closure. After knowing its closure, people are curious to know why Tommy Bahama is Shutting Down.
There is no clear-cut reason for it! But we have some information through which we can assume that the stores shut down for having multiple issues. Also, Tommy Bahama is searching for a new location and shutting down the previously located stores.
The company announced before the closure of both the stores and restaurants that their last working day was November 5.
According to sources, this company had gone bankrupt after its development for 10 years. While some are saying Tommy Bahama was a low-performing company, the stuff was of inferior quality, the cost was high, and the management was lackluster. In short, the overall atmosphere was not good.
But according to, Oxford Industries Inc., the company announced that we are closing temporarily because of the COVID-19 pandemic.
Later, The Company decided to close the stores and restaurants by May 1, 2021
This is because Tommy Bahama faced a huge drop in sales in the fiscal year 2021, from $266 million to $160 million. If we wrap up, it indicates that the company exited because of its low sales.
People dropped bad reviews about the company. Some were saying this site is terrible, while some were against having delivery issues. Let’s read their reviews. One of the customers reviewed, “Beware! It took 1 month to get back your money from a return!” while another posted, “Ordered online from Tommy Bahama but did not receive it.”
Tough Competition may also be one of the major causes, as Tommy Bahama’s top competitors include: Tasc, 5.11 Tactical, Renuar, Etsy, David Cline, Tori Richard, Boohoo, and IBKUL. Isle be Melis, Cotopaxi, Kozan, and Southern Tide.
Is Tommy Bahama Still There In 2023?
Yes! This is good news for many that Tommy Bahama is still in the USA in 2023. It is available at Neiman Marcus, Nordstrom, Von Maur, Lord & Taylor, Dillard’s, Macy’s, Saks Fifth Avenue, and many more worldwide.
89 Tommy Bahama stores were in the U.S. by April 21, 2021. Out of which, Las Vegas comes up on the no.1 place with 4 stores, i.e., approximately 5% of all the stores across the country.
Why Choose Tommy Bahama?
If it comes to Tommy Bahamas restaurant, the fast food is mouthwatering, and the service is awesome. You will have a unique experience while having a meal; it can be an impeccable place to refresh your mind and body. If you do not have time for vacations, you must go for it to unwind.
Representatives said, “To meet the overall goals of our business strategy, we are continually evaluating all Tommy Bahama retail and restaurant locations to ensure they are meeting the needs of our guests and performing as planned,” also stated, “As a result, there are times when we need to make adjustments to our business.”
In terms of furniture quality, Tommy Bahama is one of the most popular companies offering the utmost quality with awesome design for exceptional rates. Also, it has been serving for many decades or even a century.
How much does Tommy Bahama Sell For?
Tommy Bahama remodeled in 2003 when the company Oxford closed a deal at $240 million and $10 million in stock; the other payments were up to $ 75 million.
What type of style is Tommy Bahama Famous For?
Tommy Bahama is famous for its casual men’s and women’s clothing, easy-to-carry, simple, and sober style. Mostly the beach gear and sportswear are carefree. This brand is famous for its floral and island-influenced style. If you want to carry something easy and breezy, you must go for it!
Conclusion
A corporate stated in a statement, “We have enjoyed being part of the community and remain committed to our guests in Orange County,” He also added, “We invite them to visit us at our recently remodeled Tommy Bahama Restaurant, Bar & Store at Corona Del Mar Plaza in New port Beach, stores in Huntington Beach, Mission Viejo, and Irvine, and online at tommybahama.com.”
Thanks for reading!