If you thought last year was the low point for bricks-and-mortar retailers, think again. Sadly, 2019 proved to be exponentially more brutal, and Coresight Research predicts the number of store closures could reach a staggering 12,000 by the year’s end, compared to just under 6,000 closures in 2018. From Payless to Party City, here are some of the most notable victims of the retail apocalypse this year.
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Payless ShoeSource
Stores closed or closing: 2,500 Finding cheap footwear became a little more difficult this year. Back in February, Payless filed for bankruptcy and announced it would close all of its U.S. locations. The move came after an initial bankruptcy filing in 2017, which was accompanied by about 700 closures.
GNC
Stores closed or closing: Up to 900 Though vitamin and wellness retailer GNC has thus far steered clear of bankruptcy, it announced over the summer that it would be shuttering up to 900 of its stores in the U.S. and Canada in the coming years. Unsurprisingly, many of the stores closing are in malls that have seen a precipitous drop in foot traffic.
Gymboree and Crazy 8
Stores closed or closing: 805 In an ominous sign of the year to come, longtime kid’s clothing seller Gymboree filed for bankruptcy in January and announced it would close all remaining locations of both Gymboree and its lower-priced Crazy 8 brand. The move followed a 2017 bankruptcy filing that was accompanied by 375 store closures. However, if you’re a big Gymboree shopper, take note: Next year, the brand will re-appear in about 200 The Children’s Place stores as well as online.
Dressbarn
Stores closed or closing: 650 In an effort to bolster its more successful brands like Ann Taylor, Loft, and Lane Bryant, Ascena Retail Group announced in May that it would be closing all Dressbarn locations by the end of 2019. Ascena also sold its Maurice’s brand to a private equity firm earlier this year.
Fred’s
Stores closed or closing: 568 This discounter and pharmacy with a wide presence throughout the Southeast filed for bankruptcy in September and announced it was liquidating all stores. Fred’s had already endured multiple rounds of closures this year and had fewer than 100 stores still open when it decided to pull the plug entirely.
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Charlotte Russe
Stores closed or closing: 500 In February, women’s fashion retailer Charlotte Russe announced it would close fewer than 100 stores as part of a bankruptcy filing, but that number soon ballooned to encompass all locations. However, there is hope for Charlotte Russe fans: New owner YM Inc. has already resuscitated a handful of the stores and plans to ultimately re-open about 100 locations.
Family Dollar
Stores closed or closing: 390 Dollar Tree, owner of Family Dollar, decided in March to shut down almost 400 Family Dollar locations and announced it would re-brand an additional 200 locations as Dollar Tree stores. The move followed more than 100 Family Dollar closures in 2018.
Related: 25 Things You Didn’t Know About Dollar Stores
Shopko
Stores closed or closing: 370 Wisconsin-based discounter Shopko announced in March that it would close all of its locations by mid-June. It had filed for bankruptcy in January and announced 250 closures in February, but failed to find a buyer to help keep the remaining stores afloat.
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Things Remembered
Stores closed or closing: 274 Things Remembered, seller of figurines, picture frames, and all things sentimental, was spared liquidation after it found a new owner earlier this year. Still, the retailer was forced to shrink its footprint considerably, with fewer than 180 of its 450 stores saved from the chopping block.
Charming Charlie
Stores closed or closing: 260 Citing increasingly empty stores, Charming Charlie filed for bankruptcy in July and announced it would be closing all remaining locations. This was the jewelry and accessories chain’s second trip to bankruptcy court in two years and followed an initial round of 100 store closures in 2018.
Chico’s
Stores closed or closing: 250 A trio of women’s apparel stores run by Chico’s FAS Inc. — its namesake, Chico’s; White House Black Market; and Soma — is poised to shrink over the next couple of years as the company works to maintain profit margins as more customers opt to shop online. Roughly 60 to 80 stores will close by the end of this year.
Gap
Stores closed or closing: 230 It seems that fewer people have been falling into the Gap, and the iconic men’s and women’s clothing retailer announced early this year that it would be shrinking its footprint by about half in response. Gap also said that its more successful sister brand, Old Navy, would become a standalone company.
Avenue
Stores closed or closing: 222 Despite receiving an infusion of cash earlier this year, plus-size women’s clothing retailer Avenue decided in August to pull the plug on all of its retail locations, spread across 33 states.
Walgreens
Stores closed or closing: 200 Walgreens’ footprint grew considerably after it bought more than 1,900 Rite Aid locations in 2018, so the pharmacy giant has had to pare back a bit. This year, it announced 200 U.S. Walgreens closures; that’s on top of closing hundreds of the recently purchased Rite Aids.
GameStop
Stores closed or closing: 180 to 200 If you’ve been downloading video games instead of buying them in store, you’re not alone. That’s part of the reason GameStop announced in September that it would close up to 200 struggling stores before the year’s end. The company has also said many more closures are possible over the next year or two.
Destination Maternity
Stores closed or closing: 183 Pregnancy is hard enough without searching high and low for decent maternity clothes. Unfortunately, they’ll be even harder to come by after the closure of more than 180 Destination Maternity-owned stores as the company files for bankruptcy. Closures may also include the company’s other stores, Motherhood Maternity and A Pea in the Pod.
Forever 21
Stores closed or closing: 178 This mall stalwart that has long sold fast fashion to young adults couldn’t escape the downturn in foot traffic in its stores. It filed for bankruptcy in late September and announced that it was shuttering about a third of its locations.
LifeWay Christian
Stores closed or closing: 170 Faith-based bookseller LifeWay Christian announced in March that it would close all of its 170 storefronts, citing declining foot traffic and sales. The company is continuing to sell its products online, however.
Kitchen Collection
Stores closed or closing: 160 This outlet-mall staple, a subsidiary of small-appliance maker Hamilton Beach, will close its doors by the end of the year. The chain blames falling foot traffic in its stores and the rise of e-commerce for declining sales.
Signet Jewelers
Stores closed or closing: 150 Last year’s holiday season wasn’t kind to Signet Jewelers, parent company of jewelry stores Kay, Zales, and Jared. Accordingly, about 150 stores are expected to close their doors after the holiday rush this year, the company has said. The closures are part of a three-year plan to close about 455 stores, many of them mall-based locations that have struggled with declining foot traffic. More than 260 stores closed last year.
Sears and Kmart
Stores closed or closing: 121 By the end of the year, another 121 Sears and Kmart stores are slated to be goners, according to Business Insider. The number is much larger than the 26 stores that the company had publicly announced in August would be closing and is based on company filings and local media reports. In an effort to innovate, new parent company Transform Holdco LLC has opened a few smaller-format stores focused on the chain’s stronger categories like appliances and tools.
Performance Bicycle
Stores closed or closing: 104 Cyclists lost one of the biggest nationwide bike retailers with the closure of all Performance Bicycle stores earlier this year. The chain’s parent company filed for bankruptcy in fall 2018 in the hopes of salvaging at least half of its locations, but it wasn’t to be. One of the new owners is a hedge fund that helped with the Toys “R” Us liquidation in 2018.
Bed Bath & Beyond
Stores closed or closing: 60 New Jersey-based Bed Bath & Beyond Inc. announced this fall that it had added another 20 stores to its closings list, boosting the overall number to 60. Locations are expected to operate through the holiday season and close down early next year. A third of the closings will affect the company’s other brands, the most notable of which include Buy Buy Baby and Cost Plus World Market.
Pier 1 Imports
Stores closed or closing: 57 Home décor and accessories stalwart Pier 1 said this summer that it would close 57 stores this fiscal year, but the announcement came with a foreboding warning: More closings, perhaps as many as 145, could follow if the company can’t hit new performance goals. The chain has been forced to raise prices in response to President Trump’s new tariffs on Chinese goods.
Party City
Stores closed or closing: 55 Late this past summer, Party City added 10 more locations to an already-announced list of 45 stores slated to close by the end of the year. The main culprit? Helium shortages and higher helium costs that impacted one of the store’s core businesses: balloon sales. The chain is also selling 65 of its Canadian locations.
Victoria’s Secret
Stores closed or closing: 53 America’s appetite for lingerie seems to be waning, and Victoria’s Secret parent company L Brands announced in February that it would be closing 53 stores this year. That comes on the heels of 30 closures in 2018 — double the normal amount — and as the store faces criticism for what some say has been outdated, non-inclusive messaging in the “Me Too” era.
Office Depot
Stores closed or closing: 50 As part of a three-year plan to “optimize its retail footprint” announced back in 2016, Office Depot said in May that it would close 50 stores by the end of the year. Closures also affected the company’s OfficeMax brand.
