Store Closures 2023: The Big List (2,000+ So Far)

Everyone loves a good sale, right? And while the news that over 2,000 stores from 17 retailers are calling it quits in 2023 might initially make you shed a tear for the golden days of retail, there’s a silver lining. Liquidation sales! Yes, many of these store closures mean huge discounts and deals as brands look to clear out their inventory. So, whether you’re on the hunt for a bargain or just curious about which stores are pulling down the shutters, you’re in for some retail therapy. Now, let’s plunge into this retail drama, list in hand, wallet at the ready.

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📊 Quick Numbers for The Nerds:

• Stores packing up: 2285
• Retailers with closings: 17

Amazon – 9 stores

Amazon decided to close nine of its Go locations – specifically two in New York, three in Seattle, and four in San Francisco. The tech giant seems to be rethinking its brick-and-mortar strategy.

Bath & Body Works – 50 stores

Interestingly, while Bath & Body Works is actually expanding its footprint with 90 new standalone stores and 25 remodels, they’re also pulling the plug on about 50 of their mall-based stores. Looks like it’s not all rosy in their mall outlets.

Bed Bath & Beyond – 896 stores

The most jaw-dropping number comes from Bed Bath & Beyond. Closing 896 stores after filing for bankruptcy, the brand isn’t totally vanishing – it’s turning into a digital phoenix thanks to Overstock.com who purchased their intellectual property assets.

Best Buy – 20 stores

Best Buy is set to close 20 to 30 of its large-format stores while opening eight smaller concepts and 10 outlet locations. The company remains tight-lipped about the exact locations of these changes.

Big Lots – 7 stores

Big Lots is waving goodbye to three stores in California and four in Colorado, as they set their sights on smaller towns and step back from urban areas.

Christmas Tree Shops – 82 stores

This seasonal specialty retailer is going out of business, a decision influenced by a mix of slowing demand, inflation, and those pesky rising interest rates. They’ve already said their farewells to 10 stores with 72 more on the way out across 20 states.

Foot Locker – 545 stores

Foot Locker is taking a long stride away from shopping malls, planning to close as many as 420 stores by 2026, and another 125 Champs Sports locations. They’re not completely retreating, though. Keep an eye out for more than 300 “new concept” stores popping up, including some outside of malls.

Gap and Banana Republic – 46 stores

The parent company, Gap, has been busy. They’ve already closed four Banana Republic stores this year and aim to close around 350 Gap and Banana Republic outlets by the end of 2023. They ended 2022 with 912 locations and expect to wrap up 2023 with approximately 866.

JCPenney – 2 stores

Locations in Oswego, New York, and Elkhart, Indiana are closing, following a trend since 2020 which saw the wind-down of over 150 stores.

Lidl – 11 stores

Lidl plans to close 11 underperforming stores spread across six states, including North Carolina, Virginia, New Jersey, South Carolina, Maryland, and Pennsylvania. However, they’ve also recently opened new locations in Washington, DC, and Greensboro, North Carolina, with another store planned for Brooklyn, New York.

Macy’s – 4 stores

The iconic Macy’s plans to close stores located in shopping malls in California, Colorado, Hawaii, and Maryland, all part of its three-year plan to shut down 125 spots.

Party City – 31 stores

The party seems to be winding down at Party City with 22 store closures announced in February, and another 9 added to the list in April.

Target – 4 stores

Target is saying goodbye to four locations – two near DC, one in Philadelphia, and another in Minneapolis. A decline in foot traffic is to blame, but don’t fret too much; they’re set to open approximately 20 new stores this year.

The RealReal – 6 stores

This luxury consignment shop is set to shut four stores and two consignment offices across the US to trim their budget by around $2 million.

Tuesday Morning – 487 stores

The Dallas-based home goods company announced they’re shutting down every. single. store. That decision followed a February announcement of plans to close more than half their stores amidst bankruptcy proceedings.

Walgreens – 150 stores (in US)

Walgreens will be shuttering 150 US stores, with another 150 planned closures in the UK. As for the exact locations biting the dust in the US? That’s still under wraps.

Walmart – 23 locations

The retail giant Walmart is axing 22 stores across various states due to underperformance and ditching both its remaining pickup-only concepts.

It’s hard to bid farewell to some of our retail favorites, but 2023 sure is giving frugal shoppers a field day. With a slew of liquidation sales on the horizon, it’s the perfect opportunity to grab those wish-list items at a fraction of the cost. Remember, one store’s loss can be your closet’s gain! So, as the retail landscape continues to shift, make sure you’ve got your eyes peeled for those clearance signs. Happy deal hunting!