Have you noticed several big stores closing down in your city? Well, this isn’t just happening around your area but around the whole country. Several big stores are about to shut down this year, and many want to know why.

Macy’s and JCPenney have faced tough times since the pandemic, and with the shaky economy, they’re closing stores nationwide. Many old, famous shops are going online as people now buy stuff on the internet. It’s sad to see them go, but change is happening. Stay tuned to know which big stores might close this year.

Bed Bath & Beyond

Bed Bath & Beyond has been around since the 1970s and is one of the most popular retail stores. There is a Bed Bath & Beyond in almost every shopping center, but in 2021, the company closed down over 200 stores that were not performing too well.

The company also announced that they were closing down another 43 stores this year and plan to do more in the future so that they can save the company from going under. Bed Bath & Beyond still generates a lot of sales but now that things are getting more expensive, people are not buying as much.

Express

Express clothing stores have been around since 1980 and were founded in Chicago, Illinois. The fashion retailer supplied people with the latest fashion trends during the 1980s, which led to several locations being opened around the country.

The company was doing well for a while until it faced financial troubles in recent years. Express has already closed down close to 100 stores this year and is set to close down the remaining ones next year as they are looking to liquidate the company.

Office Depot

Office Depot was founded during the 1980s and became one of the most popular office supply stores in America. The biggest competitor, Staples, is in much better shape now than Office Depot, as they have already closed down several stores across the country and are set to close down more.

The company also announced that it would be laying off around 13,000 employees by 2023 and has plans to ditch the retail market and become an IT services provider.

Stein Mart

Stein Mart is another retail clothing store that was affected by the pandemic. Stein Mart was founded in the early 1900s and was one of the most popular retail clothing stores at one point in time. Things are quite different for Stein Mart now, as the pandemic led to several stores closing down across the nation.

The company eventually filed for bankruptcy and recently announced that it would be closing down all of its stores. It is sad to see so many old companies go because of recent events, but that is how the market works.

 

Walgreens

Walgreens has been around since 1901 and was founded in Chicago, Illinois. Walgreens is considered to be the second-largest pharmacy store in the nation but has recently been through some tough financial times.

Walgreens has already closed down over 200 stores as they have seen a decrease in sales ever since the pandemic, and now that the economy doesn’t look good, it has decided to close down even more stores this year.