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Major Brands Closing Stores In 2023
The world is a strange place right now, and there’s no doubt about the fact that many stores across the United States are struggling. In fact, many have been struggling for years. With the online world taking precedence over the physical one, it’s easier than ever for customers to find what they’re looking for online. All they have to do is click a button, and these products can be delivered within just a few days – and you don’t even have to leave the house.
While many stores have tried to fight back against the world of online retail, it seems as though some of them just haven’t been able to win. These stores have now had to make the difficult decision to close either some or all of their physical storefronts in 2022, and there’s no doubt about the fact that we’re sad to see them go.
Chipotle
Oh no, not our beloved Chipotle. Yet another retail food chain has been impacted and has shut down some of its store locations. News outlets report that they won’t be as impacted as some chains given the ability to provide carryout and delivery. Adding a layer of technology and a specific delivery sector to the business rather than relying on delivery services could help Chipotle in the long run. The focus on digital ordering has proven effective for this chain.
GNC
If you’re the kind of person who loves to stock up on nutritional products, vitamins, and diet supplements, then you’ll miss GNC. It seems as though online vitamin retailers are creating a more competitive market, and while GNC has tried to hold on to customers, they’ve since been forced to slim down. The company filed for Chapter 11 bankruptcy recently, and as such, they will be closing around 800 to 1,200 stores in 2021 alone.
Kohl’s
If you have tried to make your way to any Kohl’s store recently, you may have noticed that the doors stayed firmly shut. That’s because they have been closed indefinitely due to the coronavirus pandemic, and it’s not known whether some of them will even be able to open up their doors again. Their sales were down around 40% in the first quarter of 2021, and it seems as though things won’t be getting better anytime soon.
McDonald’s
The golden arches aren’t faring too well as people increasingly branch out to newer fast casual chains and search for healthier options as a whole. In June 2021, McDonald’s announced they’d be closing 200 “low volume” locations across the country, with locations in cities and public spaces like malls suffering most. With the pandemic, the fast food giant has struggled with costs of implementing dozens of health and sanitation features to combat contact concerns.
Signet Jewelers
Although you might not be familiar with the name Signet Jewelers, they own the likes of JB Robinson Jewelers, Piercing Pagoda, Kay Jewelers, and Zales. In the last quarter, Signet has seen a huge drop of 40% in their sales, and this has caused the company to take a huge financial hit, and they’ve made the tough decision to close many of their stores. Around 150 closed during lockdown will not open up again, and another 150 will close later this year.
Office Depot
There’s something so fun about picking up all kinds of stationery you’ll probably never use, but you might be taking your last trip to your local Office Depot soon. In recent years, this company has closed around 55 stores across the United States, and they plan to close another 90 stores by the end of 2022. Apparently, this is because Office Depot wants to focus more on business-to-business services, rather than focusing on regular ol’ people who love staplers.
Macy’s
Macy’s is legendary, right? It’s been referenced in some of the best movies and television shows we’ve ever seen – and that’s before we mention their famous Thanksgiving Day Parade! While there are still many people who are devoted to this company, Macy’s has felt the struggle over the years. Many malls across the country are failing to bring in the footfall, and they have seen this impact on their own sales. By the end they are going to close 125 stores, with more to follow.
GameStop
GameStop is one of the world’s largest video game retailers, and this company has branches across the globe, but the high number of physical stores so close together has actually hindered the company as a whole. In 2021, they confirmed that they would be working hard to “de-densify our global store fleet” to ensure that they didn’t have too many stores too close together. It’s believed that they closed just over 300 stores by 2022 alone.
JCPenney
It’s fair to say that JCPenney has become a staple in malls across the United States. This department store has previously been extremely popular, but with so much competition out there – especially online – they have struggled as of late. They filed for bankruptcy earlier this year, and JCPenney have now confirmed that they closed 192 stores in 2021, and then another 50 in 2022.
Walmart
How could this possibly happen? The retail conglomerate known as Walmart has announced it too has seen a negative impact, and are closing multiple locations temporarily. Who knew the day would come that forces Walmart to shut its doors, but it’s finally happening.
Five Guys Burgers & Fries
A victim of the pandemic like many others, Five Guys Burgers and Fries was forced to close locations across the country, mostly in smaller towns and more rural locations. As takeout has increasingly depleted traffic among fast food chains, Five Guys has also had to succumb to the delivery upheaval, losing out on money to DoorDash, Uber Eats, and others.
Hooters
Hooters has consistently combatted criticism of their franchise, mainly due to the nature of their serving staff, but with the competitive market sports bars are in, it’s hard for them to keep up in all the places they used to be the only option. Millennials just aren’t as interested in their sort of marketing, and due to huge drops in sales, they’ve been forced to close dozens of locations.
Bed Bath & Beyond
Bed Bath & Beyond is the perfect store for those who love their home comforts. These stores are normally humongous, and hold everything you could possibly need. While you will almost always find customers in these stores, they are hoping to claw back some of their money by closing up to 60 stores in 2021 alone. More closures may come in the future if they see this as a beneficial decision.
CVS
When it comes to pharmacies, there’s no doubt that CVS is one of the most popular and accessible. After closing down numerous locations in 2019, CVS is carrying on with this trend and closed around 22 locations in 2022. You probably don’t need to worry too much, though, as they still have 9,900 locations across the US, and many of them have enhanced services thanks to these other cuts.
Bath & Body Works
In today’s climate, you would have assumed that cleaning products would be flying off the shelves, but customers can get everything they need online, and Bath & Body Works is seeing that for themselves. With less traffic in their physical stores, they have planned to close around 50 of them by the end of 2022. Most of these stores can be found within malls across the country, as they do not make as much money as their standalone stores.
Cheesecake Factory
Bad news for all you cheesecake lovers. Looks like the Cheesecake Factory is next on the list to announce the impact of recent events resulting in multiple store closings. Known for its many styles of cheesecake and never-ending menu, several locations of the Cheesecake Factory restaurants have shut its doors. The days of thumbing through that 50-page menu are waning.
PetSmart Inc.
If you have a pet, where do you buy their food, toys, grooming accessories, and all of the other products to keep them healthy and happy? There’s a big chance that you buy these things online, and, with more of their customers doing this, PetSmart Inc. is struggling to bring in the numbers they once did. They have built up an impressive debt over the years, and it will reach its maturity in 2022, meaning they may be making some big decisions this year.
Walgreens
Over the past year or so, Walgreens has been in a serious process of downsizing their company. It seems as though online pharmaceutical competition has hit them hard recently, and they just can’t compete with the big dogs any longer. In 2019, they confirmed that they would begin the process of shutting down 200 of its stores in the United States, and that is still ongoing today. This is still a blow to those who will see their local store closed down.
J. Crew
There’s a high chance that you shopped at J. Crew in the past, but we wouldn’t be surprised if you’ve parted ways with this store in recent years. While it used to be extremely affordable, rising prices not only forced the CEO to quit, but also forced many customers to shop elsewhere. They had no option but to file for bankruptcy during the coronavirus pandemic, and they’re expected to close many locations this year.
Papyrus
Although it’s easier than ever to buy customizable greeting cards online, there were some people who would head to Papyrus to stock up on birthday, engagement, condolence, and other cards. Unfortunately, this is no longer an option for fans of this company, as Papyrus is now in the process of closing down their final few stores after filing for bankruptcy last year.
Nordstrom
Nordstrom used to pride itself on being a department store that offered the best service imaginable, including live piano in stores at one point. Unfortunately, it seems that even stellar customer service can’t save the retail stragglers, and due to ongoing economic problems, Nordstrom has decided to cut a few stores from their roster. They closed 16 stores in 2021, which only leaves around 100 stores left.
Family Dollar
Discount stores are perfect for those who don’t want to spend too much money on their everyday items, and Family Dollar has been in our lives since 1959. Over the years, this company has built up over 8,000 locations, but those numbers seem to be dwindling. In 2019, Family Dollar noted that they would start the process of closing around 400 of their stores.
Pier 1 Imports
You will have to go somewhere else for your silk pillows and your scented candles from now on. The current economic climate has hit this business hard, and while they hoped that they would be able to push through this hardship, they have since had to file for bankruptcy. In early 2021, they announced that they would have to close almost half of its 900 stores, but things have gotten worse for the company now. Soon, all stores will be closed.
Kmart
Back in 1994, Kmart boasted a whopping 2,500 locations across the globe, but things came crashing down around them in 2002 when they had to file for bankruptcy. They lost hundreds of stores during this time, but there was a light at the end of the tunnel when Kmart merged with Sears. Yet, that light has since been diminished, as Kmart is in trouble again. They closed countless stores in 2019, and they aren’t stopping anytime soon.
Gap
Although Gap has just forged a new partnership with the one and only Kanye West, it seems as though this is a last-ditch attempt to not only save their business.That’s because this clothing company has seen some serious sales declines over the years. Due to this new trend, Gap aims to close up to 230 stores by the end of 2021. So far this year, they have already closed almost 100 of those stores, so they’re getting closer to their goal.
Bloomingdale’s
Whether you’ve shopped in Bloomingdale’s or just know it as the former workplace of Rachel Green, this store has been a staple within American shopping culture for centuries. In fact, this store was founded back in 1861, when the first store popped up in The Falls Mall in Florida. Bloomingdale’s has now decided to close this flagship store, and it seems as though the traffic and popularity just isn’t there any longer, so they’ve had to make these tough decisions.
Tuesday Morning
This company is famous for providing customers with some serious discounts, and while this is great for those looking for a bargain, it’s not so great for a company that already has low profit margins in a struggling economy. Tuesday Morning has had no choice but to rethink their business plan and cut some of their losses. They have not only filed for bankruptcy, but they have also been forced to close 232 out of their 700 stores in 2021.
Sears
There was once a time when Sears was the largest retailer in the United States, and most people had something in their house that they purchased from Sears. However, in recent years, sales have begun to dwindle, and the company had no option but to file for bankruptcy in 2019. Things haven’t gotten any better for them in the past few months, and by the end of 2021, there’s expected to be just 182 stores left.
Destination Maternity
Focusing on all kinds of maternity wear, Destination Maternity has been a go-to store for many over the course of its existence. However, with moms being busier than ever, it’s also easier than ever for them to buy the same products online. In October 2019, Destination Maternity had no choice but to file for bankruptcy, and they are now in the process of closing their last 183 stores.
99 Cents Only
As you can probably tell by the name, 99 Cents Only is a store that’s dedicated to cheap prices that everyone appreciates. However, with low profit margins and a huge amount of competition from other stores and online retailers, they have seen huge losses over the past few years. The stores actually had to be bought out back in 2011, yet it seems as though they are still struggling, and may be considering the closure of even more stores soon.
Art Van Furniture
If you live in the Midwest, you may be pretty familiar with Art Van Furniture stores. Many people who live in these areas love these stores and the furniture that comes with them, but times have been hard for this company. In fact, they have been so hard that Art Van Furniture has had to file for bankruptcy. They now plan to close all of their stores in all eight states in 2021.
Fred’s Pharmacy
Nowadays, you don’t have to search to find the everyday items that you need. Amazon users can have these items delivered the next day or even in a few hours, which is why stores like Fred’s Pharmacy have found themselves in deep water. After struggling to make any kind of profit in recent years, this company had no option but to file for Chapter 11 bankruptcy in September 2019. They are closing all of their stores by the end of 2021.
Guitar Center
Although this guitar shop has been in business for over five decades, they have struggled to maintain their popularity. Sales have dropped exponentially in the past decade, and Guitar Center has even had to ask for emergency loans to keep them afloat. It’s believed that they are now around $1 billion in debt, which means that they may have to start closing their storefronts soon.
Neiman Marcus
If you’re looking for luxury, Neiman Marcus can probably sort you out. But it seems as though more and more customers are choosing not to visit these stores, which is seriously affecting their finances. In May 2021, the company just couldn’t ignore their debts any longer and had to file for bankruptcy. It’s believed that they will have to close around 22 stores in 2021 to help pay their debts and get back on track.
Hallmark
When was the last time that you went to a Hallmark and mailed a greetings card out to a family or friend? Because there are so many other ways to tell your loved one that you’re thinking about them, Hallmark has been struggling over the years. They are just not seeing the traffic that they were once used to, which is why in 2021, they plan on closing at least 18 stores.
Bose
Known for selling some of the best speakers and headphones that the world has to offer, there have been Bose stores in the likes of North America, Japan, Australia, and Europe, and they all proved to be pretty successful 20 years ago. However, times have changed, and there’s no real need for Bose to have stores any longer. They want all of their customers to grab their products online, which is why they plan to close all 50 of their stores in the US.
AT&T
This communications provider is a huge name in the United States, and many people sign up for AT&T plans every single year. However, how many of you actually make your way into one of their stores to do this? The company themselves are seeing their services online increase, which is why it no longer makes financial sense for them to maintain physical stores. Because of this, they will be closing all 250 stores.
Olympia Sports
If you’re the kind of person that loves to stay active, you may buy your sporting goods online, as it’s pretty easy to do so. However, it’s that kind of buying choice that has left Olympia Sports in the lurch. The company found themselves in trouble in 2019, but were given a lifeline when JackRabbit bought out almost half of these stores, while the other half will be closed forever.
Modell’s Sporting Goods
If you’re from New York City, there’s no way you’re not familiar with this store. This isn’t the only city to boast one of these stores, though, as they can be found across the East Coast. After filing for bankruptcy earlier this year, Modell’s will be closing all of their stores over the coming months. If you were a customer, you may want to grab something at a discount price.
Lands’ End
Those who are familiar with the business history of Lands’ End will know that this company was previously housed under the Sears Holdings umbrella. And while Lands’ End is now no longer underneath the umbrella, they’re still feeling the effects. In 2019, the company announced that they would be closing all of their store-within-store branches that could be found in Sears, but it’s been suggested that they may have to close some of their own storefronts as well.
Wilsons Leather
Even if you’ve never shopped in Wilsons Leather yourself, this shop is all about providing customers with quality leather goods. Wilsons Leather is owned by parent company G-III Apparel Group, which also owns the likes of Calvin Klein, Karl Lagerfeld, DKNY and Tommy Hilfiger. Because of this, they now want to put all of their money and attention into these big brands, so the last 110 stores will be closed this year.
The Children’s Place
The Children’s Place is all about affordable children’s clothes, which is why it has become so popular with parents over the years. But sales haven’t been as impressive as they expected in the past year or so, and this has taken a huge toll on the store. They’ve found their physical storefronts do not garner enough profit, which is why they plan to close 200 shops in 2021. You can still buy online, though.
Forever 21
Forever 21 is about fast, on-trend fashion that’s super affordable, which is why customers have flocked to their stores over the years. However, more and more people have questioned just how cheap their clothing is and its effect on the planet. This left Forever 21 with a few problems, including being forced to file for bankruptcy. They started closing their US stores in 2019, and the last few hundred will be closing this year.
Chico’s
This company prides itself on providing fashionable clothing for the more mature woman, and it’s fair to say that it has become a staple for many ladies across the United States. Although there have been over 1,400 stores across the United States and Canada in the past, it seems as though Chico’s are now starting to become more web-based. Not only have they partnered with the likes of Amazon to sell their products, but they also plan to close around 250 stores.
Vitamin Shoppe
Nowadays, it seems everyone wants to keep on top of their vitamins and minerals. Although consumers have turned online, it’s not exactly the greatest help for Vitamin Shoppe. Their physical stores are struggling because of this change of pace, and while they are upping their own online presence to keep from going away, they may have to close some of their physical shops.
Abercrombie & Fitch
Abercrombie & Fitch is known for its attractive staff members, the smell of the store, and the fact that it’s so dark inside. Many customers have loved browsing this store, but it seems as though they’ve been struggling to maintain profits over the past few years. Due to competition, Abercrombie & Fitch have tried to change their target audience, but last year they had to close around 40 stores. They will be closing even more in 2021.
Claire’s
You probably shopped or took your kids to Claire’s once upon a time, and that’s because this jewelry and accessories store is known for its bright colors and its bold products. In 2018, they had no option but to look at their finances and file for bankruptcy, and this forced them to close a number of their stores. In 2021, they are expected to announce that they are closing even more.
Payless
In 2019 and early 2021, Payless had no option but to file for bankruptcy and close all of its stores in the US and Canada. This came as a huge blow to those who loved this discount footwear retailer, and many were sad to see the last store close its doors this year. However, Payless has since relaunched their online site, and they hope that by focusing on their e-commerce, they will be able to continue for years to come.
Mattress Firm
When it comes to mattresses, most people want to visit a store to give it a whirl, and because of this, Mattress Firm has gone through various stages of success. That didn’t stop it from filing for Chapter 11 bankruptcy and closing down numerous stores in 2017, though. While they have since emerged from bankruptcy, Mattress Firm has noted that they refused to pay their rent for April 2021, and it may mean that they have to close more stores.
Victoria’s Secret
While this company has become extremely popular over the years, the brand has struggled with its reputation in recent years. Many have called them out for promoting unrealistic beauty standards, and because of this, Victoria’s Secret has struggled to maintain its success, instead gaining a huge debt. In 2021, they plan to close around 250 stores across the globe, and many more to come after.
Henri Bendel
Known for their classic black and white striped boxes and luxurious items, Henri Bendel has become a staple for the rich over the years. Yet, when you offer services to such a small audience, you’re bound to come into a few problems. This was the case when Henri Bendel announced they would have to make serious cuts. By the time 2019 came around, the final 23 stores we forced to close up shop.
Tesla
Tesla is a huge company that has its fingers in many technological pies. There are many showrooms for their cars around the world, but it seems they are now looking to go in a different direction. Tesla now hopes to rid themselves of this extra burden and allow their customers the chance to buy their cars online instead.
Dressbarn
After making its mark in 1962, Dressbarn soon became a popular store for working women. However, as the years went by, sales began to dwindle, and they couldn’t help the amount of debt that was mounting. In the end, Dressbarn made the decision to close all 650 of its stores before the beginning of 2021. They followed through with their promise, and now there are no Dressbarn stores in the country any longer. You can still buy online, though.
Gymboree
You can still buy Gymboree clothes online, but you won’t be able to find a physical store any longer. After years of financial hardship, the company had to make the decision to file for Chapter 11 bankruptcy in 2019. As part of this deal, they set about selling their stores and closing around 900 of their locations across the United States. All of their stores closed in late 2019 and early 2021.
Bebe
If you’re wondering why you haven’t seen a Bebe store in awhile, that’s because they’re all closed. In fact, they closed a year ago, and while many hoped that they would be able to bring back their brick-and-mortar stores, that just hasn’t been the case. The company just wasn’t making enough money to keep things going, and after a breakdown in management, Bebe decided in 2017 that they would close down all of their stores and only sell online instead.
Nine West
You may have bought something online from Nine West recently, but this fashion retailer closed all of its physical stores in late 2018 after filing for bankruptcy amid the piling debt on their plate. While they have continued to maintain their online sales, it seems as though they are still struggling within the competitive market. With so many companies offering similar products, they are trying to stand out from the crowd.
