7 Mall Favorites Are Most Likely To Go Bankrupt and Close In 2024

Malls are struggling to keep customers, which might be evident when you look at all the mall retailers closing up and declaring bankruptcy.

Stores like rue21 and The Body Shop have already declared bankruptcy this year and shuttered all their locations. Other retailers like Express have also declared bankruptcy, but some locations are still operating.

Store closings and bankruptcies are becoming a trend and more retailers could follow. Here are a few where you may be able to save money shopping when they announce they're going out of business sales.

The Container Store continues to struggle with sales and could be on the path to bankruptcy if things don’t turn around.

The company's debt is maturing in 2025 and will have to be paid, or the retailer will face serious consequences. However, a lack of strong revenue could make paying back those debts a real
problem. 

Watchmaker Fossil said goodbye to its longtime CEO this year, partially due to the company’s ongoing financial issues.

The retailer posted less-than-stellar earnings reports this year, and S&P Global Ratings downgraded its credit rating due to its continuing financial problems.

JCPenney declared bankruptcy in 2020, but there are signs that issues are worsening, and it may have to make even more changes to close locations.

The company recently closed four anchor store locations, including stores in Alabama, Maine, Maryland, and Texas, with little announcement. It also continues to see declines in income, which could lead to more bankruptcy issues and closures.

You might have a Sleep Number mattress company in your local mall but it won’t be there for long.

The company continues to struggle with revenue, making it likely to disappear from your local mall or shopping area. One potential reason for the issue was the lack of home sales in recent years when shoppers are more likely to buy a new mattress.

Macy’s might be a big anchor store at your local mall, but its financial struggles could lead to trouble ahead.

The company’s most recent quarter of earnings were lackluster, causing its stock price to tumble on the news.

The decline came after Macy’s announced earlier this year that it plans to shut down 150 stores over the next three years to address some of the financial problems.

Foot Locker has struggled the past few years with issues related to fewer customers going to malls, which has caused its income to decline.

It also didn’t pivot to e-commerce in a timely fashion, while other mall retailers started to rely more on online sales to stem the loss of in-person sales.

Foot Locker has seen a turnaround in sales in recent months, but it remains to be seen whether this will lead to the company seeing more success or sinking into possible bankruptcy.

Kohl’s has added store-in-store options to attract new customers, such as Sephora for makeup and Babies R Us for extra children’s needs.

But the company is still having financial issues, as revenue continues to decline. If the retailer can’t pull itself out of its hole, it could file for bankruptcy.

Malls are already struggling, so it can be tough when more retailers close their doors due to lagging sales or other economic struggles.

However, those closings could help you save money if you find ways to keep cash in your pocket to prepare yourself financially for saving cash that you can use for other financial goals.