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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.
Big Lots’ new owner is in the middle of an effort to keep some stores open, after the discount retailer said in December that it would start going-out-of-business sales across all stores.
A projected 15,000 stores are expected to close between now and the end of December, and some of the retailers that are shutting down the most locations may surprise you. 10. Best Buy
Bose shut down all of its 119 retail stores in 2020 in order to follow a "dramatic shift" to online shopping only. [ 79 ] Carter's announced the closure of at least 200 stores in an earnings call in October 2020; the children's apparel chain planned to close about 80% of its locations by 2022.
Many closures are the result of already-struggling companies reaching their breaking points and declaring bankruptcy
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
These are tough times for two big US dollar store chains. In the past month, Family Dollar said it will close nearly 1,000 stores and 99 Cents Only said it will go out of business.
Virtually all Quiksilver, Billabong, and Volcom stores are shutting down in the U.S., and roughly 1,400 employees will be laid off. Chris Morris. Updated February 6, 2025 at 11:21 AM.