Many of us have grown up knowing the names of major retailers who are closing stores or going out of business in 2020 and some even before this year is up. If you love names like Bath & Body Works for their scents or JC Penny for their particular name brands, you better take note that many of these locations will be closing. Shop while you can and grab store closing sales when you see them advertised. Many malls already look like apocalyptic sites with the slew of companies that have already had to close. Whether this is from internet shoppers or the high costs of operations, it’s always a loss in a community to see a huge empty mall.
Stores Closing in 2020
- Bath & Body Works has announced they will be closing a slew of stores in 2020 with a few new openings. Up until now, this was the largest company of it’s kind in the US.
- CVS pharmacy. It recently closed 43 of its underperforming stores, announcing more 2020 closures to come.
- Pier 1 imports. Pier 1 recently announced that more than 135 of its stores would be closing in 2020, up from earlier projections.
- Payless Shoe Source. The brand, owned by Wolverine Capital, recently announced early in 2019 that it would be closing all of its stores.
- Gymboree. This clothing store for children has announced that it would close all of its stores in 2020. This means that in addition to the Gymboree stores, all of their Janie & Jack and Crazy 8 locations will be shutting down for good as well.
- Gap, Inc. It recently announced that it would be selling off its Janie & Jack brand, precipitating some store closures by 2020.
- GNC nutrition. It has closed a lot of stores, with more upcoming. It was recently purchased by the Chinese government.
- Lowes. A home improvement store that ranked #2 in the nation. Lowe’s recently announced that it would be closing several stores and branches in 2020 as part of a “strategic” decision. It closed many in 2019.
- Barneys New York. If you ever went to New York City, you had to visit Barneys. It was known as the place to shop for an upscale experience. Barney’s announced bankruptcy woes in August of 2019, along with the news that it would be permanently shuttering two-thirds of its stores nationwide (15 total).
- Macy’s. Macy’s** department store has announced 9 new store closures ahead of 2020. So relax, Macy’s customers; chances are your local store isn’t going anywhere – for now, at least. The latest closures will be taking place in under-performing locations including Charleston (South Carolina), Redmond (Washington) and McLean (Virginia). 9 closures come on the heels of Macy’s decision to shutter nearly 100 total locations nationwide over the last few years.
- Charming Charlie. Its remaining 261 store locations will all be shuttered by 2020 with a total liquidation well underway.
- LifeWay Christian Store. In 2019 the company announced that every last store location – which numbered 170 by this point would close.
- Party City. Closing 45 of their locations.
- Bed Bath & Beyond. Closing 40 of their stores.
- JC Penney. Closing 27 of their underperforming stores.
- Fred’s. The beginning of 2020 will see more than half of Fred’s locations nationwide all shut and gone for good (only 244 will remain).
- Kmart. By 2010 the store was shutting down dozens of locations. Kmart filed Chapter 11 again in 2018, announcing that hundreds of stores would be closing immediately. Ahead of 2020, the company now says that at least another 100 locations will be closing for good.
- Sears. 100 locations will be closing by the end of the year, along with Sears’ Chicago headquarters. That leaves less than 200 Sears stores up and running across the country.
- Dressbarn. All 650 of their stores will be closed by 2020.
- Family Dollar. Having been bought out by Dollar Tree, many of Family Dollar locations will be closing by 2020.
- Charlotte Russe. Closing all stores by 2020.
- Nordstrom announced there will be massive closures ahead of 2020.
- Victoria’s Secret will close more than 50 stores in 2020.
- Chico’s is closing 250 stores.
- Other stores either closing stores or going out of business are Foot Locker, Perkins, DKNY, Office Depot, Office Max, Build-A-Bear, The Children’s Place, Abercrombie & Fitch, Williams-Sonoma, Saks Fifth Avenue Off Fifth, and Vera Bradley.
Last year, amidst crashing retail sales nationwide, more than 5,800 American stores shut down across the country, with many brands declaring bankruptcy altogether. So better get your shopping in now: because by Christmas, many of these stores will officially be no more.
Ref. freeowl.com, investing.com, MSN/news, CBS News
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