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Malls are struggling to keep customers, which might be evident when you look at all the mall retailers closing up and declaring bankruptcy.
Iconic stores like Forever 21 and The Body Shop have already closed all their doors in the last couple of years and shuttered all their U.S. locations. Other retailers like At Home 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.
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Saks Fifth Avenue
Saks Fifth Avenue and its parent company Saks Global are carrying significant debt after merging multiple luxury retailers under one umbrella.
While Saks continues to operate flagship and mall locations, analysts warn that slowing luxury spending and high leverage could put pressure on its financial stability in 2026, making it a retailer to watch for potential restructuring or store closures.
Victoria's Secret
Victoria's Secret is in the middle of a multi-year restructuring, closing underperforming stores in 2025 and 2026 to focus on online sales, rebranding, and expanding in markets like China.
While the company has not filed for bankruptcy, analysts say continued pressure on profitability and its heavy mall footprint mean a filing wouldn't be surprising if sales or market conditions worsen. The brand has already shuttered hundreds of stores since 2020 to keep up with changing consumer habits.
JCPenney
JCPenney filed for bankruptcy in 2020 but continues to operate hundreds of mall locations across the U.S. Now part of Catalyst Brands, the retailer has stabilized somewhat, but declining mall traffic and ongoing pressure from online competitors mean another round of financial trouble or restructuring wouldn't be surprising if sales don't improve.
Sleep Number
Sleep Number (SNBR) has been a fixture in the mattress and bedding industry for decades, known for its adjustable "sleep number" beds. However, the company is now facing a critical financial situation, issuing a "going concern" warning in March 2026 due to high debt, liquidity challenges, and widening losses.
Net sales dropped 16% to $1.4 billion, and the net loss deepened to $132 million, putting Sleep Number at risk of restructuring or bankruptcy if it cannot secure additional capital.
Macy's
Macy's is aggressively closing roughly 150 underperforming stores by the end of 2026 (66 in 2025 and more in early 2026) as part of its "Bold New Chapter" turnaround plan. The strategy focuses on upgrading remaining luxury locations, including Bloomingdale's and Bluemercury, and boosting digital sales.
While bankruptcy isn't imminent, continued pressure from declining mall traffic and competition from online retailers means further financial stress or restructuring could be possible if results don't improve.
Express
Express, a fast-fashion mall retailer, has struggled for years with declining mall traffic and shifting consumer habits. After filing for bankruptcy in 2024, the company has closed hundreds of underperforming stores but still operates key locations while restructuring.
Analysts say that continued pressure from online competitors and a shrinking mall presence make further closures or financial trouble in 2026 a real possibility.
Foot Locker
Foot Locker is set to close over 400 underperforming mall locations by 2026, roughly 25% of its footprint, as part of a strategic "reset" focused on new Lace Up community stores and expanding digital sales.
While this is a major reduction amid declining mall traffic, the company has not filed for bankruptcy, though analysts note that continued sales pressure and the high reliance on malls make further financial stress or restructuring a real possibility.
Kohl's
Kohl's has been experimenting with store-in-store concepts like Sephora and Babies "R" Us to attract shoppers, but revenue continues to decline amid competition from discount chains and e-commerce.
The company has not filed for bankruptcy, yet its heavy mall footprint and ongoing financial pressures mean that additional restructuring or even a potential filing in the next year cannot be ruled out if the turnaround fails.
Bottom line
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.
More from FinanceBuzz:
- 12 ways to pocket up to $300.
- Are you a homeowner? Get a protection plan on all your appliances.
- 10 little weird hacks Costco shoppers should know.
- Learn how to escape the paycheck-to-paycheck grind.
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