In 2023, more than a dozen major retailers will close at least 800 US locations.
Macy’s and Walmart are just a few of the stores closing.
Bed Bath & Beyond plans to close 416 locations, the most among all retailers on the list.
Although it isn’t quite the retail apocalypse from previous years, it is a significant shakeup.
Announcements from major retailers in 2023 find at least 803 stores closing during the year across the US.
There are many reasons for this: Some companies are going through bankruptcy proceedings while others are trying to reduce costs.
The list’s leader is the houseware giant Bed Bath & Beyond. It once owned over 1,500 stores in three brands but now has 480 locations.
Check out the complete list:
Tuesday Morning: 265 stores
As part of bankruptcy proceedings, the Dallas-based home goods company will close more then half its stores.
Party City: 22 stores
12 locations are up for auction. Another 10 will be closed in February while the company goes bankrupt.
Macy’s: 4 stores
As part of its three year plan to close 125 stores, Macy’s will close four stores in the first quarter at shopping centers in California, Colorado and Hawaii.
RealReal 6 stores
To save approximately $2 million, the luxury consignment market is closing four stores and two offices in the US.
JCPenney has 2 stores
After the closing of more than 150 stores, JCPenney’s Oswego, New York, and Elkhart, Indiana locations will close in 2019.