It’s always an unsettling feeling when retail stores begin closing, sometimes harrowing down so much that it feels like the retail world is entering a dystopian age. And according to Insider, an estimated 2,119 retail stores are planned to be closed down permanently in 2023 alone.
For some shoppers, this feels akin to losing a friend as nostalgia looms for past brand stores that have become leisure and social destinations for many. So brace yourself, here is the alarming list of all 17 memorable businesses closing retail stores in the USA.
List of Select Retailers Closing Businesses
The reason for all of these stores closing varies from businesses attempting to increase profits and cut costs while some are already far along in bankruptcy proceedings. And it’s unfortunate since retail stores are an integral part of America’s economy, and companies have more access to the best retail analytics to help them succeed and stay in business.
This list details the retailers closing in order from the most stores going out of business to the least amount of stores going out of business.
Bed Bath & Beyond – 896 Stores
Bed Bath & Beyond is on the chopping block of bankruptcy and must liquidate all of its remaining stores by Jun 30, 2023. This number combines all US Bed Bath & Beyond, Buybuy Baby, and Harmon stores.
Foot Locker – 545 Stores
Foot Locker is not quite bankrupt, but they will be closing hundreds of stores within the name brand as well as Champs Sports. They have announced plans to reboot the company and take their stores out of failing malls. On the bright side, they plan to open over 300 concept stores.
Tuesday Morning – 487 Stores
Tuesday Morning has also fallen to bankruptcy and must close down all of their stores.
Bath & Body Works – 50 Stores
Bath & Body Works is another company that has decided to close its mall stores, perhaps signaling the end of shopping malls in the USA.
Gap and Banana Republic – 46 Stores
Gap has also announced that hundreds of its stores would need to be closed in order to get out of shopping malls that no longer generate enough customer traffic consistently.
Walmart 22 Locations
To everyone’s surprise, Walmart continues to be closing businesses year after year due to poor sales performance and a shift to centers that offer pickup only.
Party City – 31 Stores
Part City sales continue to decline forcing the company to closing businesses in order to stay afloat.
Best Buy – 20 Stores
Best Buy is another retailer opting to close down its larger stores in place of opening newer concept stores that are smaller along with outlet locations.
Amazon – 8 Stores
Another surprise on this list, Amazon has decided to close down eight Go locations on the west and east coasts. Amazon’s Fresh grocery stores are also being closed and the company has halted expansion of its planned physical store locations.
Big Lots – 7 Stores
Big Lots closed most of its stores in parts of urban California and plans to target smaller towns as their primary consumer niche.
The RealReal – 6 Stores
This secondhand luxury item retailer has decided to cut costs to maintain profits by closing down stores and consignment offices.
Macy’s – 4 Stores
Macy’s is slowly closing stores amidst a strategy to close 125 retail stores over the course of three years.
Target – 4 Stores
Target is doing just fine, and even though they plan to close down a few stores (most likely in their lower performing areas) they have promised to offer jobs to all of their employees at different locations as a sign of good faith. And on another bright side, Target plans to open another 20 stores this year.
JCPenney – 2 Stores
Although JCPenney is only closing two stores, they have planned to continue closing businesses until 150 stores are closed, as planned since 2020.
And that’s the alarming list of all 17 memorable businesses closing retail stores in the USA. With all of these businesses closing, shoppers might think that the end of physical stores and retailers closing is an inevitable outcome at this point. However, as human beings, there will always be an inescapable social element that can only be satisfied by shopping at physical locations and that will be the key to the success of physical retail stores worldwide.
