10 Major Retailers Racing Toward Extinction

It may be harder for you to shop at your favorite retailers as some stores are quickly closing down locations across the country.

Closings are being reported across industries with locations shutting down in clothing, accessories, pharmacies that could’ve helped you save money on essentials, and more.

Check out this list to see if your favorite stores are on the chopping block and find out just how fast they’re closing locations.

Fossil has been struggling financially in recent years with the company’s CEO stepping down in early 2024 after helming the retail brand for decades.

The increasing struggles have led to the retailer closing a whopping 88.8% of its locations in 2023 and 2024, in hopes that it would slow down the loss of cash.

Rite Aid has been shutting locations down across the country as it tries to restructure itself after declaring bankruptcy with 20.8% of its locations closing.

Some states have suffered more than others with places like Michigan seeing all of their Rite Aid locations close with prescriptions being sent to other pharmacy chains instead.

Grocery chain Save-A-Lot shut down 5.7% of its locations this year as the supermarket struggled due to issues that have plagued it in recent years.

The company had problems with theft at some locations as well as continuing issues related to a drop in customers after the pandemic.

You may have loved seeing Express at your local mall, but it may be a long-gone memory now.

The retailer closed almost 100 Express locations in 25 states earlier this year when the company filed for Chapter 11 bankruptcy. The closures represented 6.7% of the retailer’s locations.

Advanced Auto Parts has struggled recently, leading to the chain shutting down locations and distribution centers to stay afloat.

The company, which shut down 6.9% of its locations, announced that it plans to shutter an additional 700 stores by the middle of next year.

It could be harder to fill up your vehicle as your local Citgo station may have already been cut.

The company closed 7.9% of locations in 2023-2024 as it dealt with financial issues in recent years and is in the process of being sold, which could help it with some creditors who are owed money by the gas and oil company.

Staples may not be a staple for your office supplies with 9% of its locations closing down in 2023 and 2024.

The retailer continues to shut down stores in different states including Massachusetts, Pennsylvania, and other locations.

Banana Republic has had some misfires in recent years that may have led to the company shutting down 9% of its locations.

The company fired its CEO last year and recently shuttered its home furnishings line that was barely a year old in an effort to move forward despite its economic struggles and shuttered stores.

Party City isn’t much of a party anymore as the company continues to shut down multiple locations.

Party City shuttered 10.8% of its locations after filing for Chapter 11 bankruptcy in 2023. The company has since emerged from bankruptcy but without those stores, which may have been underperforming or necessary to shut down as part of its financial recovery.

Kitchen retailer Williams-Sonoma may have taken out some kitchen knives to chop at its retail locations.

The company cut 14.5% of its locations in 2023 and 2024 as it moved to more online options for customers with e-commerce making up a bigger chunk of its revenue in recent years.

It can be hard to lose your favorite retailers, but it could also be a good time to try new retailers so you can save money and get ahead financially.

Look into different options that can help you save cash and don’t forget about online retailers to help you get what you need. Online shopping can also help you compare costs so you can find the best deals and keep some cash in your wallet.