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99 Cents Only Stores announced on April 4, 2024 that its 371 locations in the Western United States would begin to close. The COVID-19 pandemic, inflation, and shrink were cited as major reasons for the closure. [3] The company had considered filing for bankruptcy prior to the announcement. [4]
Retail apocalypse refers to the closing of numerous brick-and-mortar retail stores, especially those of large chains, beginning around 2010 and accelerating due to the mandatory closures during the COVID-19 pandemic. [2] [3] In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising ...
Macy's plans to close 50 stores in 2024 and 150 locations in total by 2026. The department store chain will expand Bloomingdale’s and Bluemercury.
In June 2024, SDI Stores filed for Chapter 11 bankruptcy protection, marking Bob's Stores fourth time in bankruptcy protection. The filing came after the company announced that up to 10 stores would close from both brands. SDI Stores owed millions of dollars in unpaid debt to many of its creditors.
CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores. And Rite Aid filed for bankruptcy last year and will close up to 500 stores.
In February 2024, Macy's announced that up to 150 underperforming stores would close by the end of 2026, with 50 stores closing by the end of 2024. Macy's stated that the closing stores only represented 10% of its total sales.
Macy's plans to close 50 stores in 2024 and 150 locations in total by 2026. The department store chain will expand Bloomingdale’s and Bluemercury.
A woman leaves a Kmart in Avenel, N.J., Monday, April 4, 2022. When the store closes its doors on April 16, it will leave only three remaining U.S. locations for the former retail powerhouse.
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