Which Brick-and-Mortar Stores Are Closing or Staying Open?
The retail industry has been in turmoil since the COVID-19 pandemic, with many well-known chains struggling to keep their doors open. Some have shut down entirely, while others are downsizing in an effort to survive. Here’s an updated list of major retailers, breaking down which are closing permanently, closing some stores, and which are staying open despite financial troubles.
Stores That Are Closing Permanently
Jo-Ann Fabrics and Crafts
• Status: Closing all stores (Liquidating)
• Details: The company filed for bankruptcy in early 2025 due to $615 million in debt. All 800 stores are closing, and liquidation sales are currently underway. However, customers are upset that Jo-Ann is refusing to accept gift cards.
99 Cents Only Stores
• Status: Closed all stores permanently
• Details: In April 2024, the discount chain announced it would be shutting down all 371 locations, citing financial struggles from the pandemic, inflation, and shifting consumer demand.
Party City
• Status: Closing all corporate-owned stores
• Details: Party City filed for Chapter 11 bankruptcy in early 2023. While franchised locations and Canadian stores (owned by Canadian Tire) remain open, all corporate-owned U.S. stores will be closed by February 28, 2025.
Stores That Are Closing Some Locations
Walgreens
• Status: Closing 1,200 stores over the next three years
• Details: Announced in late 2024, the pharmacy chain is downsizing due to regulatory pressures and rising operational costs.
Macy’s
• Status: Closing 150 stores as part of a restructuring plan
• Details: Macy’s is cutting underperforming locations to focus on stronger markets, with sales expected to decline in 2025.
Big Lots
• Status: Closing 700+ stores, keeping some open
• Details: The retailer filed for Chapter 11 bankruptcy in 2024, initially planning to shut down all locations. However, a last-minute deal with Variety Wholesalers, Inc. will keep up to 400 stores open. Despite this, many locations—including some in Broome County, NY—have already closed.
Dollar Tree & Family Dollar
• Status: Closing 1,000 stores (including 370 Family Dollar and 30 Dollar Tree locations)
• Details: After reporting a $1.7 billion loss in Q4 2024, Dollar Tree is shutting down struggling locations to cut losses.
Red Robin
• Status: Closing 70 locations when leases expire
• Details: The restaurant chain suffered a $32.4 million loss in late 2024 and is cutting underperforming stores.
CVS Health
• Status: Closing 270 stores in 2025
• Details: After shutting down 800 stores in the last three years, CVS is continuing to shrink its footprint, refocusing on pharmacy services rather than full-scale retail.
Forever 21
• Status: Closing up to 200 stores, possibly filing for bankruptcy
• Details: The fast-fashion retailer is struggling to stay afloat and may enter Chapter 11 bankruptcy, though its international locations remain open.
Rite Aid
• Status: Closing nearly 100 stores
• Details: The pharmacy chain filed for Chapter 11 bankruptcy in 2023 and has nearly disappeared from Michigan and Ohio. More closures are expected.
Stores That Are Staying Open (For Now)
While these stores have struggled financially, they are not shutting down entirely:
✅ Hobby Lobby – No announced closures, remains a strong competitor in the crafts market.
✅ Michael’s – Still operating, with strong online and in-store sales.
✅ Walmart & Target – Closing some underperforming locations, but overall growth remains stable.
✅ TJ Maxx, Marshalls, and HomeGoods – Continue to thrive with their discount model.
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So, What’s Next for Retail?
With major brands disappearing or downsizing, it’s clear that brick-and-mortar retail is still in trouble. E-commerce is thriving, and businesses that fail to adapt are shutting down. Expect more closures, bankruptcies, and store overhauls in the coming years.
Have any of your favorite stores closed? Let us know in the comments!
