Audio equipment company Bose has announced plans to close all of its retail stores across North America, Europe, Japan, and Australia. 

The company made the announcement earlier this week, according to The Verge, citing the fact that customers are increasingly ordering their products online instead of visiting and shopping in their physical stores. 

Bose plans to close a total of 119 locations worldwide.

LinkedIn: Bose is closing ALL its stores, what a shame.

Me: BOSE had stores!?

— patricio (@pcanella) January 16, 2020

"Given the dramatic shift to online shopping in specific markets, Bose plans to close its remaining 119 retail stores across North America, Europe, Japan and Australia over the next several months," the company said in a statement. 

"In other parts of the world, Bose stores will remain open, including approximately 130 stores located in Greater China and the United Arab Emirates; and additional stores in India, Southeast Asia, and South Korea."

The closures will result in a significant amount of job losses, though the company has not specified how many. They have, however, indicated that laid off employees will receive outplacement assistance and severance. 

.... But honestly, I've loved my time at Bose. Easily the best company I've worked for, and the best managers I've ever had. Couldn't be more thankful for the time there and happy to have a house full of Bose. That's something 10 year old Joe would've never believed.

— Joe Fischer III (@JoeFisch3) January 15, 2020

Customers in North America,  Europe, Japan, and Australia will still be able to buy Bose products using online retailers such as Amazon, Best Buy, and the Bose website. 

"Originally, our retail stores gave people a way to experience, test, and talk to us about multi-component, CD and DVD-based home entertainment systems," said Colette Burke, vice president of Global Sales at Bose Corporation, in a statement.

"At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it – and we're doing the same thing now. It's still difficult, because the decision impacts some of our amazing store teams who make us proud every day," she added. 

"They take care of every person who walks through our doors – whether that's helping with a problem, giving expert advice, or just letting someone take a break and listen to great music. Over the years, they've set the standard for customer service. And everyone at Bose is grateful."