The United States has been going through a big wave of store closings lately. In 2024, more and more well-known names have closed stores, gone bankrupt, and left different states because they weren’t doing well.
There is reason to be concerned about this since it impacts the jobs and finances of many Americans. Here is a list of some of the most well-known American companies that have closed stores in the past few months.
Store Closures in the United States
LL Flooring filed for bankruptcy last Sunday in the state of Delaware. Since then, it has started closing 94 stores across the United States. CBS News reported on this in great depth, using a company statement as their source.
Macy’s, a well-known clothing and fashion brand, has announced a new marketing plan that will close 150 “unpopular” shops by 2026.
These store closings are part of a larger trend in the retail industry: businesses are rethinking their real presence and changing how they interact with customers.
Shopping malls are going through big changes because they are getting ready to lose some big brands, which will leave big holes in their selection. Stores that are usually between 60,000 and 70,000 square feet will be affected by these loses.
Major Retail Closures in the Northeast
A big grocery store company called Stop & Shop said last month that it would be closing 32 stores in five northeastern states: New Jersey, Massachusetts, New York, Connecticut, and Rhode Island. There will definitely be a big hole in these communities after this move.
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
The cheap store chain 99 Cents Only said in April that it would be closing all of its stores in the US. People in Arizona, California, Nevada, and Texas have long counted on these stores’ low prices and wide range of goods. This move will affect them.
It’s clear that retail is changing, and these store closings are a sign of bigger changes in the industry. As soon as these stores close, both shoppers and shopping centers will have to get used to the new shops. Big Lots also confirms that 315 stores will be closing.