It seems like every day there’s news about another store closing. 2025 is no different. Department stores, discount chains, and more are closing locations or going bankrupt across the country. Rising costs and shifts in shopping habits are forcing even household names to make hard decisions. Here’s a recap of 10 major ones.
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Macy’s
The store announced 66 closures in 2025, but there will be more announced throughout 2026. Macy’s is getting rid of locations that are underperforming while investing in the company’s stronger locations and upscale brands like Bloomingdale’s. The cuts are expected to help the brand remain competitive as more consumers are spending money online.
Joann Fabric & Crafts
Joann closed most of its stores this year after going bankrupt again. By May 2025, around 500 shops were gone, with the rest following soon after. Michaels later bought its brand name, but the physical stores won’t be coming back.
Party City
All corporate-owned Party City stores are shutting down in 2025. The company couldn’t keep up with debt and filed for bankruptcy, auctioning off its leases. Some franchise locations will remain, but most people will see Party City disappear from their towns.
Walgreens
This year, Walgreens will shut about 500 stores. More will follow through 2027. The chain says it wants to focus on stronger sites and rethink its role in retail health, all while cutting costs.
Rite Aid
Rite Aid’s collapse has been huge this year. After going bankrupt, the chain closed more than 1,100 stores because it just didn’t have the money to keep them running. At this point, only a few Rite Aid shops are still open.
Family Dollar / Dollar Tree
Family Dollar is closing 370 stores in 2025, on top of hundreds already shut last year. Dollar Tree is also trimming its weaker locations. Both brands are trying to focus on their strongest stores to cut losses and stay profitable.
Big Lots
Big Lots is facing major financial problems and could close up to 500 stores in 2025. The discount retailer is going through bankruptcy and restructuring in hopes of surviving. Still, many communities will lose their local Big Lots.
GameStop
GameStop is still shrinking in 2025. Stores are closing all over the country, and the company has already pulled back overseas. With gamers downloading most titles now, GameStop is turning more toward collectibles and online sales instead.
At Home
At Home has run into big trouble this year. The home décor retailer went bankrupt in 2025 and began closing stores. Debt, tariffs, and higher costs took a toll, and even more locations are expected to shut down soon.
Hudson’s Bay (Saks Fifth Avenue, Saks Off Fifth)
Hudson’s Bay Company, which owns Saks and Saks Off Fifth, collapsed in 2025. It filed for creditor protection and by summer, all remaining stores were liquidated. The closure marks the end of one of North America’s oldest retail names.
Sources: Please see here for a complete listing of all sources that were consulted in the preparation of this article.
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