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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.
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]
Several restaurants have been filing for Chapter 11 bankruptcy or closing stores in 2024, including Red Lobster, Hooters, Tijuana Flats and Alamo Drafthouse to name a few.
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.
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.
On June 4, 2020, J. C. Penney released a list of 148 stores slated to close starting in late June 2020, with eleven additional store closures announced on June 22 and two additional stores on July 7, with the previously announced store closing locations remaining on hold pending further review, for a planned closing a total of 242 stores.
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.
Target Corporation is an American retail corporation that operates a chain of discount department stores and hypermarkets, headquartered in Minneapolis, Minnesota. It is the seventh-largest retailer in the United States, and a component of the S&P 500 Index. [3] The company is one of the largest American-owned private employers in the United States.