It’s been a rough year for retail. Between inflation, consumers tightening their wallets, and the never ending and constantly changing tariffs saga, companies have been hemorrhaging money.
Some retailers have weathered the storm all right — think discount stores like TJ Maxx and Dollar Tree — but most have not. We’ve lost a number of high profile companies this year, whether they filed for bankruptcy and went out of business completely, or drastically reduced their store locations. Here are the biggest retail closures of the last year.
Joann
Joann, the popular fabric and craft store, went out of business in the first half of the year and closed all stores in a massive hit to the crafting community. It was the second time that Joann filed for bankruptcy, so many people were hoping that the company could survive another round. Instead, there was a months-long saga of announcements that some stores were staying open, and then reneging on that news.
Eventually, all Joann stores held liquidation sales, and the final locations closed in May 2025. The only way you’ll be able to experience Joann now is through Knit & Sew Shop branding in Michaels stores.
Rite Aid
Joann wasn’t the only retailer to file bankruptcy for the second time this year. Rite Aid, a large pharmacy chain, filed for bankruptcy protection in May, the second time in less than a year. The company cited financial woes “intensified by the rapidly evolving retail and healthcare landscapes” as the reason for being so far in the red.
Then came waves and waves of store closings, leaving many people without a nearby pharmacy. Today, there are no more Rite Aids operating, and the website is only up for patients to access health records.
Claire’s
Malls have been dying for a long time. Claire’s, a mall staple for tween girls for decades, is in its death throes this year. In August, the company filed for bankruptcy (also for the second time), citing “increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail” as reasons.
Originally, Claire’s said it may have to close 1,100 locations, even going so far as to provide a list of the stores. But as of now, the company has closed just under 300 so far. Hopefully that’s all there will be.
At Home
At Home, a housewares, seasonal decor, and outdoor living store, filed for bankruptcy in June. In a statement, the company largely blamed tariffs for its soaring debt and lower profit margins. The bankruptcy “resulted from a combination of macroeconomic headwinds, industry-specific challenges, operational issues, significant debt burden, and acute tariff pressures,” the company said in a statement at the time.
Luckily, At Home has not gone out of business, but it did close a few dozen stores of the 266 total that it was operating around the time of filing bankruptcy.
Big Lots
Big Lots has been another long, drawn-out saga this year. It filed for bankruptcy back in late 2024, citing inflation, less demand for furniture and decor due to a sluggish housing market, and an overall slowdown in spending as the reasons for its money woes. Since then, it’s truly been a rollercoaster of stores closing news. At one point, the company even announced that all locations were closing.
That didn’t turn out to be the case, though, because a company named Variety Wholesalers purchased hundreds of Big Lots locations. Just over 200 locations have now reopened, but that’s a far cry from the size of the chain previously.
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Party City
Party City, where you could get everything from Spiderman birthday party supplies to rainbow balloon arrangements, filed for bankruptcy just before Christmas of 2024. A couple weeks before filing, the company’s headquarters were locked, and employees knew something bad was going down. The company then announced that all stores would be shutting down by the end of February, 2025, leaving all 12,000 employees without jobs, benefits, or severance pay. This was the second bankruptcy for the company.
More Stores That Closed in 2025
Many more retailers shuttered stores this year without filing bankruptcy or going out of business completely. Here are some of them.
- Macy’s – Closed over 200 locations
- Walgreens – Closed dozens of locations as part of a plan to close 1,200 stores
- Forever 21 – Closed all stores but still operates online
- Dollar General – Closed 150 stores
- Kohl’s – Closed two dozen stores
- American Signature and Value City Furniture – Closing 33 stores
- Carter’s – Closing 150 stores
- Petco – Closed three dozen stores
- CVS – Closed hundreds of stores
- JCPenney – Closed dozens of stores
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