In recent times, the United States has been experiencing a significant wave of store closures. Throughout 2024, an increasing number of well-known brands have shut down locations, declared bankruptcy, and exited various states due to poor performance.
This is something to worry about because it affects employment and the financial situation of many Americans. Below is a list of some of the most renowned companies in the United States that have announced store closures in recent months.
Store Closures in the United States
After declaring bankruptcy last Sunday in the state of Delaware, LL Flooring has started closing 94 of its stores across the United States. This information was detailed by CBS News, citing an official statement from the company.
The well-known clothing and fashion brand Macy’s has announced a new marketing plan that involves the closure of 150 “unpopular” stores by 2026.
These closures reflect a broader trend affecting the retail industry, where companies are reassessing their physical presence and adapting to changing consumer behaviors.
Shopping centers are facing significant changes as they prepare to lose some prominent brands, resulting in substantial gaps within their offerings. These losses will impact retail spaces that typically range between 60,000 and 70,000 square feet.
Major Retail Closures in the Northeast
Stop & Shop, a leading supermarket chain, announced last month that it will be closing 32 stores across five northeastern states: New Jersey, Massachusetts, New York, Connecticut, and Rhode Island. This decision will undoubtedly leave a noticeable void in these communities.
Bob’s Stores: A Retail Casualty
Unfortunately, Bob’s Stores did not secure the necessary finances to continue its operations. Last month, the retailer declared it would be shutting down all its branches, becoming what the New York Post referred to as “the latest retail victim in the United States.”
99 Cents Only: Saying Goodbye
In April, the discount chain 99 Cents Only announced it would be closing all its locations across the United States. This move will affect shoppers in Arizona, California, Nevada, and Texas, who have long relied on the affordability and variety that these stores provided.
The retail landscape is clearly undergoing a transformation, and these closures reflect broader trends in the industry. As these stores shut their doors, shopping centers and consumers alike will have to adapt to the new retail environment. Big Lots also confirm the closure of 315 branches.
