Retailers Closing the Most Locations

These days, business is anything but booming! The last few years have been a nightmare for some retailers, with store closures and job losses becoming par for the course, and more defaults and bankruptcies expected in the coming year. Let’s take a look at the hardest-hit companies in the US.

J. Crew

Stores Closing: 67

This multi-brand retailer has struggled against plummeting sales for nearly a decade, with unsustainable debt levels leading to bankruptcy in May 2020. The chain has begun closing stores, with former CEO Millard Drexler blaming rising prices and unnecessary expansion.

Bed Bath & Beyond

Stores Closing: 200

During the summer of 2020, domestic retailer Bed Bath & Beyond announced their plans to close 200 of their stores over the next two years and cut 2,800 corporate jobs. They expect to save between $400-500 million from these changes.

Walgreens

Stores Closing: 750

Walgreens had already announced the closure of 200 stores back in 2019, so 2020 must have been a savage blow. As of 2020, their long-term plan is to cut a whopping 750 outlets both in and outside of the US.