Our Beloved Chain Stores That Are Closing Down This 2023

2. Foot Locker

Year Established: 1974
Store Closures: 117 Branches*

The bad news is that Foot Locker, a beloved sportswear brand, has revealed plans to close about 117 locations. Positive news? Since most of these stores are abroad, their US market and locations will mostly stay the same. But a store’s sales don’t always accurately reflect everything that’s happening there. Despite its impressive sales figures, Foot Locker is not without its challenges. A management transition is the cause of the closures. The new CEO of Foot Locker is reorganizing the company by laying off workers and cutting jobs.

2. Foot Locker

3. Target

Year Established: 1902
Store Closures: 13 Branches*

Target, a firm that was founded more than a century ago, continued to soar to worldwide prominence in the 2010s, emerging as one of Walmart’s main competitors in the retail industry. It was formerly known as Goodfellow Dry Goods, and the Target brand wasn’t adopted until 1962. By concentrating on online sales and aiming its marketing at consumers who are more sensitive of their appearance, Target has done a remarkable job of adjusting to the Internet era. Target intends to close roughly 13 locations through 2022 even if revenues are growing; nonetheless, more store openings are probably in the works.

3. Target

4. Walgreens

Year Established: 1901
Store Closures: 200 Branches*

Given that they appear to be everywhere in some American areas, Walgreens may come as a surprise to find their name on the list. They do, however, face stiff competition from CVS and other well-known brands that control the drugstore sector. In an effort to maintain profitability in their other sites, the pharmacy stores are currently closing 200 of their locations. Walgreens has been losing money ever since, and Fox Business revealed some startling details about the company’s demise. Over the course of three months in 2020, the Walgreens Boots Alliance-owned corporation lost $1.7 billion. The firm closed 17 more of its stores in the San Francisco region in 2021 due to stealing.

4. Walgreens

5. The Gap

Year Established: 1969
Store Closures: 136 branches*

To remain ahead of the market and cut costs, The Gap has undergone a significant rebranding and reorganization in addition to closing up to 350 stores globally by 2024. Former CEO Art Peck estimates that as a result of this change, more than half of The Gap’s 2,300 domestic outlets may close in the upcoming years. Foreign consumers have already witnessed a number of Gap locations close in recent years, with significant reductions occurring mostly in Israel and Australia.

5. The Gap

6. Urban Outfitters

Year Established: 1970
Store Closures: TBD*

2020 saw a staggering 32% decline in Urban Outfitters’ stock during the first quarter. Since then, the store’s situation has only gotten worse, and a stock analyst on Barrons.com advised selling the stock in July 2020. Sales in-store have drastically decreased. In the second quarter of 2020, Urban Outfitters saw a 76% increase in new digital customers, indicating that the company has performed well in digital sales. Nevertheless, retail locations continued to underperform well into 2021, despite the fact that digital sales are still sales. Since its founding in 1970, Urban Outfitters has had a “trendy” niche in the retail industry. But to maintain survival and growth, a firm needs more than just a niche. There may be more difficult times to come.

6. Urban Outfitters

7. The Children’s Place

Year Established: 1969
Store Closures: 122 branches*

For more than 50 years, The Children’s Place has been a trusted destination for numerous parents and families; nonetheless, the business has seen challenging times. Profits had begun to decline even before 2020, thus it should come as no surprise when significant adjustments were announced in March 2021. In addition to the 178 locations that were shuttered in 2020, the firm determined that closing an additional 122 locations by the end of the year was the appropriate course of action. Although executives hope it will provide the company with what it needs to continue trading, it is a devastating blow to the workforce.

7. The Children’s Place

8. DSW

Year Established: 1969
Store Closures: 65 stores over the next four years*

It was especially difficult for Designer Brands, or DSW, to emerge from 2020 undamaged. The company, like many others, has to find a means to make up for the 36% decline in revenue it suffered as a result of temporary store closures. The company intends to close 65 locations over the course of the following four years. Longtime fans of the apparel store might be shocked by this, but it’s simply one of many design businesses trying to recover financially after a difficult time.

8. DSW

9. Neiman Marcus

Year Established: 1907
Store Closures: 4 Branches*

Since the news regarding Neiman Marcus first surfaced in mid-April 2020, it is currently uncertain how many of the 113-year-old retailer’s stores would close. Reuters was informed by insiders at Neiman Marcus that the Dallas-based company is in the midst of filing for bankruptcy and arranging an emergency loan with creditors. Fortunately, the process was concluded in late 2020, and a number of investment groups acquired Neiman Marcus with the intention of restoring the business to its previous level of success. The beloved company is attempting to regain its footing and grow its online presence as of mid-2021, all the while clinging to its physical locations. Neiman Marcus was once a “symbol of luxury,” according to the New York Times. However, it’s unclear if more of its locations will close in 2022.

9. Neiman Marcus

10. Macy’s

Year Established: 1858
Store Closures: 125 Branches* (Over the next 3 years)

A mainstay of almost every American mall for many years, Macy’s department store shuttered 28 locations in 2020 alone. For the time being, devoted Macy’s patrons may unwind, since more are on the way. It’s likely that your neighborhood store will remain open as the corporation plans to close about 125 locations over the next three years. Following Macy’s decision to close roughly 100 locations countrywide during the last few years, these 125 closures have occurred. This amounts to over 15% of Macy’s total physical footprint in the United States (the company now runs approximately 690 of its flagship department shops).

10. Macy’s

11. Starbucks

Year Established: 1971
Store Closures: 400 Branches*

While the retail industry has had a difficult time, the hospitality sector has also suffered greatly. Starbucks has been serving out coffee for people all across the world since 1971, yet even this industry titan hasn’t survived 2021 unharmed. The well-known brand said that it will be concentrating on pick-up-only locations and closing over 400 outlets in the US and Canada. Starbucks expressed hope that this action will “enhance the customer experience” and “enable profitable growth for the future” despite this.

11. Starbucks

12. Bed Bath & Beyond

Year Established: 1971
Store Closures: 43 Branches*

Even while Bed Bath & Beyond plans to close about 40 locations by the end of 2022—less than 4% of all its locations worldwide—many industry experts believe that these closures could only be the beginning of a larger wave that could occur over the course of the next several years. Business Insider expressed less optimism, stating that Bed Bath & Beyond was going through a “rise and fall.” The company’s bonds have been hovering around the junk debt line for some time, trading at 73 cents on the dollar in December 2019. CNBC reported that the company was attempting to “save itself from extinction.”

12. Bed Bath & Beyond

13. Guess

Year Established: 1981
Store Closures: 200 Branches*

Since its founding in California in 1981, Guess has played a significant role in American history, but like many high-end stores, it hasn’t had an easy time lately. Guess declared in January 2021 that it would close 200 stores worldwide over the course of the next two years. Even though it only makes up 9% of their worldwide footprint, the US and China will see the most closures. The company’s stock has dropped 52% in the past year as a result of closures brought on by the pandemic. Guess is closing its doors and hoping for better times, much like many other retailers who have run out of alternative options to make up for their losses.

13. Guess

14. Victoria’s Secret

Year Established: 1977
Store Closures: 50 Branches*

The business launched its spinoff Victoria’s Secret Pink, which sells clothing and sleepwear, and is recognized with bringing stylish, hip lingerie into the general public. Victoria’s Secret chose to concentrate just on lingerie, thus Pink had to close first. Sales of Victoria’s Secret, which surpassed all other lingerie retailers in the US in 2019, have been steadily declining. In order to meet the demands of e-commerce, the company closed more than 50 stores in 2019 and 250 in 2020 in order to maintain revenues. We would anticipate to have a significant number of additional store closures beyond the 250 that we’re targeting this year, which means there will be more in 2021 and maybe a little more in 2022, CEP Stuart Burgdoerfer told ABC News.

14. Victoria’s Secret

15. Pottery Barn

Year Established: 1949
Store Closures: 3 Branches*

Pottery Barn, a Williams-Sonoma company, revealed before the start of 2020 that at least one of its retail locations would be closing. As of right now, it is uncertain how many additional sites are expected to close before the end of the year. The San Francisco-based company is known for its stylish, trendy home furnishings. Unfortunately, it’s undeniable that Pottery Barn is currently having trouble in the market, even with its praise from pop culture. The Denver Post first brought attention to the issue in 2017, reporting that the business was “struggling to adapt” to a changing “retail landscape.” Because the company’s furniture is not apartment-sized, a sizable portion of potential customers have been excluded.

15. Pottery Barn

16. Disney

Year Established: 1987
Store Closures: 60 stores*

Disney has obviously been around for much longer than 40 years, but the first Disney store opened its doors in 1987. Since then, families and children have been going crazy for the spots, yet even this behemoth has had rough times. By the end of 2021, The House of Mouse intends to close 60 of its locations in North America. Disney has 300 venues worldwide, so that represents a respectable portion of the market. In addition to these stores, there may be others that close.

16. Disney

17. Banana Republic

Year Established: 1978
Store Closures: 84 Branches*

Banana Republic started to experience issues in 2016. The clothing retailer closed every location in the United Kingdom. There were 700 stores remained as of 2017, the majority of which were in America and Asia. Due to its ongoing problems, Banana Republic is reportedly set to close 84 outlets over the course of the next few years. The firm closes 15 stores on average every quarter, however that number could increase in the future. Although the precise numbers on those closures are unknown, Banana Republic has also announced the closure of two of its subsidiary stores, Jack and Intermix.

17. Banana Republic

18. Kmart

Year Established: 1899
Store Closures: 100+ branches*

Kmart, once a formidable competitor to Walmart and Target, has faced a series of setbacks over the years. After experiencing declining sales in the late 1990s, the company declared bankruptcy in 2002, resulting in the termination of over 30,000 employees. Despite a rebranding effort and a merger with Sears, Kmart struggled to adapt to the rise of e-commerce. The store began closing numerous locations in 2010, followed by unsuccessful attempts to revive their brand. Another Chapter 11 filing in 2018 led to the immediate closure of hundreds of stores. With only 48 locations remaining by the end of 2021, it seems that Kmart’s future is uncertain.

18. Kmart

19. American Eagle Outfitters

Year Established: 1977
Store Closures: Up to 250 branches*

Having opened hundreds of locations across the country, American Eagle Outfitters has been in business for a while. Even though it’s not the largest store by any means, the business has great goals and intends to generate $2 billion in revenue by 2023. It expects to close about 250 outlets by 2023 in order to achieve this. By doing this, it intends to free up more resources to concentrate on expanding its other brand, Aerie. Although it will take time, it is worthwhile to monitor your neighborhood store. It will be unfortunate if the retailer starts to go away because it is a mainstay in malls all around the nation.

19. American Eagle Outfitters

20. Chico’s

Year Established: 1983
Store Closures: 100 Branches*

Chico’s, which has hundreds of locations around the country, has stated that it will close about 100 of those shops by 2022. This comprises numerous stores under the Chico’s name, such as the original Chico’s stores, in addition to a few dozen Soma and White House Black Market locations. Within a decade of its founding in 1983, Chico’s rose to prominence as one of the women’s fashion shops with the quickest rate of growth. Stars like Martha Stewart and Oprah (who especially adored their Silver Ox Cuff Watches) gave the company a significant boost.

20. Chico’s

21. Office Depot

Year Established: 1986
Store Closures: Unknown*

With its headquarters located in Florida and more than a thousand sites across North America, Office Depot is one of the biggest office supply companies in the United States. Over the years, the corporation has made every effort to contend with Amazon and other heavyweights of e-commerce. A decline in stock prices in 2019 as a result of weak sales led the company to announce the closure of several dozen outlets before to the start of the 2020 fiscal year. The corporation declared in early May 2020 that by the end of 2023, it will be restructuring and closing stores in addition to laying off 13,000 employees.

21. Office Depot

22. Kohl’s

Year Established: 1962
Store Closures: 27 Branches*

Kohl’s is a department store that offers jewelry, cosmetics, household items, clothing, and more. It shares a composition similar to Macy’s and is proceeding in the same direction as its primary rival. This is due to a Credit study indicating that 25% of malls may close during the next several years. Kohl’s is concentrating on growing its standalone stores and online presence and has closed its mall locations. Because it doesn’t notably rely on mall traffic, Kohl’s has been commended for its economic resiliency.

22. Kohl’s

23. Carter’s

Year Established: 1865
Store Closures: 25 Branches*

OshKosh B’Gosh, the William Carter Company, and other comparable businesses are owned by Carter’s Inc., a baby and kids’ clothing retailer. It generates $3.4 billion in annual revenue and employs close to 21,000 people. Carter’s, however, has had to close a number of locations due to changing customer purchasing trends. Recently, Carter’s closed a number of OshKosh B’Gosh locations. Its presence in physical stores has declined, but it is growing elsewhere. At the moment, it manages brands that are only available at big-box stores like Target, Walmart, and Amazon. Among these brands are Child of Mine, Simple Joys, and others.

23. Carter’s

24. Express

Year Established: 1980
Store Closures: 60 Branches*

Express, a retailer of formal garments, declared at the beginning of January 2020 that it would be making some cuts, which would take effect by 2022. In 2020, the closures would start. Express declared that it would start closing 100 locations in January. It plans to close 31 stores in 20 states this year, starting with mall locations in California. Express soon increased that number from its first announcement that it will close 91 outlets. Twenty-five further closures are scheduled for 2021, with the remaining ones occurring in 2022. Express made the decision to close as it battles low sales figures, most likely prompted by the growth of e-tail.

24. Express

25. Modell’s

Year Established: 1889
Store Closures: 134 branches (all stores)*

Modell’s Sporting Goods, one of the oldest businesses on the list, has been a fixture in the sporting goods business for a long time, holding their own against former industry titans like Sports Authority, Dick’s, and Galyan’s. Since the majority of sporting goods can now be purchased online for less money, they are also starting to face difficulties. Since going bankrupt, Modell’s has had 134 stores close in 2020–2021, closing all of its physical locations. A significant rival of Dick’s Sporting Goods, Modell’s, declared bankruptcy in March 2020 after failing to adjust to a shifting market and “failing to invest.” Shortly after, Modell’s announced that it will be closing its branches and focusing only on its online business starting in 2021 and 2022.

25. Modell’s

26. White House Black Market

Year Established: 1985
Store Closures: 1 Branch*

When White House Black Market closed 100 stores in 2019, it closed the majority of those locations. The parent company of White House Black Market, an upscale retailer, also owns Chico’s. 150 Chico’s locations will close. According to MSN Money, the Bayshore site of WHBM is one of the last locations to close. SOMA is another brand that is owned by the same parent firm; however, SOMA’s closures have not yet been disclosed. In an interview, WHBM said that it intended to balance its retail portfolio by shifting its emphasis from in-person traffic to its omnichannel presence.

26. White House Black Market

27. Z Gallerie

Year Established: 1979
Store Closures: 7 Branches*

Z Gallerie declared bankruptcy in 2019, announcing that the business had fallen on hard times. The American home décor selling company had 76 sites, however it appears that at least 10 of those closed in 2019 and that seven more will close permanently by the start of 2022. The business was founded in the late 1970s and gradually expanded to become one of the most varied chain stores for home furnishings in the country. Z Gallerie was able to come out of bankruptcy both in 2009 and this time around. After being acquired by Direct Buy in July 2019, the business launched four new Z Gallerie locations across the country.

27. Z Gallerie

28. Burger King

Year Established: 1954
Store Closures: 200-250 stores*

Burger King is owned by RBI, and its parent company was in charge of making the decision to close between 200 and 250 Burger King restaurants, in an effort to boost profitability in certain underperforming areas. Business Insider called Burger King a restaurant that we can expect to “see a little less of come 2022.” Though its intentions slowed down in 2020, RBI has long planned to open new Burger Kings, with an ambitious goal of having 40,000 locations overall. In 2019, 1,042 new Burger Kings were opened; however, in 2021, the tendency was reversed, hopefully for the better.

28. Burger King

29. Christopher & Banks

Year Established: 1956
Store Closures: 37

The shop Christopher & Banks, which operates in 44 states and sells women’s clothing and accessories, announced in mid-January 2021 that it would be declaring bankruptcy and liquidating 37 of its locations—with more probably to follow. Jones stated that Christopher & Banks had to make difficult decisions in order to “position…for the future” due to the “financial distress” brought on by the current state of the world. The statement went on to warn Christopher & Banks’ supporters that, should things continue as they are, all of the company’s physical locations may close in the near future.

29. Christopher & Banks

30. Vera Wang

Year Established: 1990
Store Closures: 50 Branches*

Vera Wang declared that by 2021, it would close fifty of its outlets. The retailer desires to give its licenses greater priority than its physical locations. Vera Wang came out of the 2019 retail collapse largely untouched. In 2019, 9,300 locations shuttered, but the luxury business had very few closures. Vera Wang gained notoriety for creating elegant bridal dresses. Vera Wang gowns are still for sale as of summer 2021 in retailers like Neiman Marcus, SOYOO Bridal, and others. Nevertheless, there may be more cuts to Vera Wang’s actual presence in stores in 2022.

30. Vera Wang

31. Zara

Year Established: 1974
Store Closures: 1,200 Branches*

Zara was dubbed the most recent “retail victim” of 2020 by FastCompany.com. By the new year, the apparel retailer will have closed all 1,200 of its stores in favor of an increased emphasis on online sales. The Spanish firm Inditex, the owner of the brand, stated that it intends to adopt a more contemporary strategy for its fashion brand in 2021. When Inditex noticed a 44% decline in in-store sales, it decided to go completely digital. In 2021, the parent company declared that it would put $3 billion into the Zara online stores. This is another “fast-fashion exit” from the realm of physical sales, as Glossy described it. As 2022 approaches, a few stores in various territories are still open, but there may be more closures on the horizon.

31. Zara

32. Williams-Sonoma

Year Established: 1956
Store Closures: 30 Branches (reducing by a further 25% over the next five years)*

Pottery Barn, Williams-Sonoma Home, and West Elm are just a few of the beautiful kitchen and home furnishings and appliances that Williams-Sonoma is known for carrying. The business was founded more than 50 years ago and has grown to become one of the largest e-commerce conglomerates in the world. In light of this, it’s possible that the company’s decision to close about 30 of its physical store locations at the end of 2017 didn’t come as a huge surprise. The business says it intends to cut its physical footprint by a further 25% over the next five years, despite the fact that its brand is still growing globally and turning a profit each year.

32. Williams Sonoma

33. Denny’s

Fans of Denny’s in New York will be disappointed to hear this. In 2020, Denny’s declared it would close fifteen of its locations permanently, resulting in the layoff of more than 500 employees. The state’s WARN notifications placed the blame on “unforeseen” worldwide situational problems. The same franchisee, Feast American Diners, owned all of the Denny’s restaurants. Customers question whether the shutdown will affect more than just a few Denny’s locations, given that Feast operates 230 eateries nationwide, including Corner Bakery Café and Jack in the Box, throughout ten states. Rochester, New York, is the most severely affected of all the areas where Denny’s shutdown are anticipated to last into 2021 and beyond.

33. Denny’s

34. Francesca’s

Year Established: 1999
Store Closures: 140 stores*

2020 was, as everyone knows, a terrible year for a lot of businesses. While some were able to move on unharmed, others were forced to reconsider. The 20-year history of fashion retailer Francesca’s wasn’t enough to preserve it completely. At the end of 2020, the Texas-based company announced its intention to close 140 of its 700 sites and filed for chapter 11. Even while many of the well-known websites are still operational, this establishes a concerning precedent for the business going forward. Faithful patrons wish for Francesca’s to withstand the storm.

34. Francesca’s

35. Ralphs

Year Established: 1873
Store Closures: 2 stores*

Though it may seem unlikely, Ralph’s has been in operation since 1873. That’s a lengthy period of time for any store. The chain, which is owned by Kroger, is nonetheless well-known even if it isn’t as large as some other supermarkets. Unfortunately, two stores will be closing in 2021–2022, affecting some residents of Los Angeles. The locations on Pico Boulevard and West Slauson Ave will permanently close in the middle of the year, much to the dismay of the community. A brand representative acknowledged that it was basically damage limitation and that the company had suffered significant financial losses in 2020.

35. Ralphs

36. Family Video

Year Established: 1978
Store Closures: 200 Branches*

One of the final chains selling DVD rentals was Family Video, located in Illinois. The chain said that it will be closing 200 of its stores and that Family Video would no longer be available in many places by 2021 due to “tough business decisions” resulting from poor sales in 2020. There are only 400 left. It’s a wonder Family Video has survived this long when everyone recalls the fall of Blockbuster Video and other comparable chains. Forbes attributed the longevity of the “last video chain[‘s]” to its straightforward business strategy. The retail chain’s valuation was $750 million in 2017, but by 2022, that figure is probably going to change.

36. Family Video

37. OfficeMax

Year Established: 1988
Store Closures: 90 Branches* (Over the next 2 years)

OfficeMax, which also has stores in Mexico and Canada, is a major office supply retailer in the United States, much like its parent business Office Depot. Established in the latter part of the 1980s, the company merged with Office Depot in 2013. After experiencing declining sales in 2019, OfficeMax closed a number of its shop locations, and it is rumored that it would close an additional 90 locations over the following two years. It is believed that the liquidation is an essential step toward helping the business recover and reach its profit targets.

37. OfficeMax

38. Tiffany & Co.

Year Established: 1837
Store Closures: 1 Branch*

Founded in the middle of the nineteenth century, Tiffany & Co. is one of the oldest jewelry companies in history. The company declared in 2020 that it would be closing its main store in New York City for renovations. Tiffany & Co.’s Fifth Avenue shop is arguably the most well-known, so brand devotees will be happy to hear that the closures are temporary. Tiffany’s assured Americans that the closures were temporary and didn’t portend difficulties for the company when they were questioned about them. “Love and optimism” will always be at the core of the brand, the statement read. The store won’t reopen until the spring of 2022 due to delays.

38. Tiffany & Co.

39. Zales

Year Established: 1924
Store Closures: 455 Branches* (Over 3 year period)

A division of Signet Jewelers is the jewelry retailer Zales. Popular in shopping centers and department stores, Zales is the brother firm of Kay Jewelers. Signet declared its intention to shut down a large number of its subsidiaries. Signet announced that it would close 13% of its locations overall. Of its locations, 455 are represented by this thirteen percent. The company has 3,500 outlets nationwide, and it will close these over the course of three years to give customers time to adjust. The news became official when it made the ground-breaking announcement in the spring of 2019.

39. Zales