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Read on for the scoop on 12 restaurant chains that have already closed (or announced plans to close) locations in 2024.
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.
When Eat This, Not That! contacted Wendy's for comment, a representative reiterated the chain's plans to close more than 100 stores and open 250 to 300 new locations in 2024.
The following retailers have all either closed or announced plans to close large numbers of retail locations, since 2010, during a time period labelled a "retail apocalypse" by media, accelerated by both the increase in online shopping and then by the economic impact of the COVID-19 pandemic. [1] [2]
Across the United States, a large number of local stores and store chains that started between the 1920s and 1950s have become defunct since the late 1960s, when many chains were either consolidated or liquidated. Some may have been lost due to mergers, while others were affected by a phenomenon of large store closings in the 2010s known as the retail apocalypse .
On April 7, 2024, Mark J. Miller, CEO of Pic 'N' Save Bargains and former president of Big Lots, planned to save the discount chain after the company announced it was closing all stores and winding down its business operations in California, Texas, Arizona and Nevada.
Dollar Tree announced on March 13 it would close 600 Family Dollar stores in the first half of fiscal 2024, and 370 additional stores as their leases expire, according to a press release.
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 ...