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You'd think a chain like Best Buy would be immune to store closures given the number of consumers who prioritize spending on electronics. But Best Buy is making plans to close 10 to 15 stores in 2025.
Full map including municipalities. State, territorial, tribal, and local governments responded to the COVID-19 pandemic in the United States with various declarations of emergency, closure of schools and public meeting places, lockdowns, and other restrictions intended to slow the progression of the virus.
Retail industry closures soared in 2024, with more than 7,100 stores shutting down through the end of November — a 69% jump from the same time last year, according to research firm CoreSight.
Investment bank UBS projected that around 50,000 or so U.S. stores will close by 2027, reported Forbes. Reasons for the closures include a lag in consumer spending, banks being less willing to ...
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of ...
The COVID-19 pandemic exacerbated many issues affecting retailers, as many were forced to shut down due to non-pharmaceutical interventions that were issued in an effort to mitigate the pandemic. [35] At the same time, online shopping boomed during the coronavirus-related lockdown, even though it came back down starting in 2022. [36]
99 Cents Only Stores is closing all of its 371 locations across the US as the company begins to wind down its business operations. The budget retailer announced the closures on Thursday, with ...
Town Shoes, owned by DSW, announced on August 29, 2018 that all of its stores in Canada would close. The stores shut down by early 2019. [301] Toys "R" Us filed for Chapter 11 bankruptcy in September 2017 with over $5 billion in debt. [302] [303] It announced that its Canadian subsidiary would seek bankruptcy protection in parallel proceedings ...