These 8 Stores Are Most Likely To Go Bankrupt and Close In 2024

2023 saw the closure of retailers like Bed, Bath and Beyond, and Buybuy Baby. Stores like Family Dollar and Walgreens saw hundreds of closures in 2024.

Even restaurants got involved with Boston Market locations shutting down and franchise owners closing Burger King and Hardee’s locations.

So, what can you expect from your local stores next year? Here are a few that could close their doors in 2025. If you shop at any of these stores for discount savings, you may want to find other ways to save money.

JCPenney is a well-known department store packed with plenty of different options you may need, such as clothes, houseware, jewelry, and more.

However, the retailer could follow other department stores with more closures and struggling sales.

JCPenney declared bankruptcy in 2020 and is still facing sales issues as it tries to recover and regain its footing in the department store market. The company reported that total net sales fell 8.9% and total revenues fell 9.2% year-over-year in the second quarter of 2024.

The store has also shuttered locations. In June, it was announced that three locations would close in September and one in 2025.

Pharmacy retailer Rite Aid got a boost in sales due to the pandemic, but recent years have not been as kind to the retailer’s balance sheet.

The company filed for bankruptcy in October of 2023 and reported $8.6 billion in debt. Almost a year later, Rite Aid exited bankruptcy and eliminated about $2 million dollars in debt.

Since the bankruptcy filing, though, more than 500 Rite Aid locations have been shut down as the company faces competition from stores like Walgreens, CVS, and Target.

Closing stores could be a sign of more problems to come, which is why you may want to keep an eye on Foot Locker. The retailer plans to close 400 stores by 2026.

These store locations may not be in demand for new tenants, leading to empty spots in regional malls that won’t get filled and could cause issues for other shopping retailers.

You may be thinking about becoming more organized in the new year, but double-check your local Container Store locations before you head out to make sure they’re still open.

Net sales for the company's most recent fiscal year were down 19% year over year, and in February, the company had to lay off 100 people due to declining sales.

The company has been trying to turn things around, but it may not be doing so as fast as investors and analysts would hope. That could lead to shaky sales and more downside, pushing The Container Store to more uncontained losses.

Beyond, the parent company of Bed Bath & Beyond and Overstock, also backed out of a deal to invest $40 million in the Container Store.

Clothing retailer Express is another chain of stores facing continued challenges. The retailer filed for bankruptcy this year and announced a plan to close nearly 100 stores in the process. The retailer has seen a decline in sales and layoffs.

Fossil brand watches may be counting down the days before the company potentially declares bankruptcy.

The brand saw a decline in sales in 2023, with operating losses punctuating its earnings report that November. In 2024, sales continued to drop. The company's net losses widened in the second quarter of 2024, and net sales declined by over 19% compared to the second quarter of 2023.

The decline could indicate that traditional watches may not be a sustainable business.

Home improvement costs have increased in recent years, mainly because of supply chain issues, which could affect home improvement stores like Lowe’s.

The retailer has seen a decline in sales and income while also having trouble paying its bills on time. The company reported in August that quarterly sales dropped 5.6% from the year before. This is reportedly the seventh quarter in a row that the retailer has seen sales declines.

Seeing some Lowe’s locations close in 2025 wouldn't be surprising.

Places like Sam’s Club and Costco have great shopping hacks to help you save money, but the warehouse retailer field is competitive, and not every company has found success.

Big Lots is one of those companies that has struggled in recent years, and a revenue decline could cause problems in 2025. The retailer has continued to see a decrease in sales and has taken on additional debt.

Big Lots filed for bankruptcy in September as a result, and is in the process of closing over 300 stores.

Watch your local Big Lots and try other local options if the retailer starts showing troubling signs of shutting down further.

It’s important to keep an eye on these stores before they close in case you shop there regularly or want to take advantage of deals and discounts.

Consider shopping at closeout sales to save money and pay with one of the best cash back credit cards to save more when you shop.

It’s also wise to consider your budget when shopping at these stores. You may be able to find better deals elsewhere, which could be contributing to stores closing up.