Retailer closures 2023 updates — Walmart set to close a number of retailers after CEO shares struggles

WALMART is shutting 21 stores nationwide this year, including four in Chicago, due to poor financial results at each site.

The most recent store closings continue a pattern in which Walmart shuts down a number of locations in various states each year, claiming that the locations are “underperforming” but not giving any further details.

Most recently, the chain has announced closures in 12 states, including Arkansas, Washington DC, Georgia, Florida, Hawaii, Illinois, Indiana, Kansas, Minnesota, New Mexico, Oregon, Texas, Washington State, and Wisconsin.

A spokeswoman cited store performance as one of the reasons for the closure.

The business said that four of its eight Chicago locations will be shutting down in April and claimed that these locations “lose tens of millions of dollars a year.”

The chain’s store closures come after Walmart CEO Doug McMillion issued a warning to shoppers.

“Theft is an issue. It’s higher than what it has historically been,” McMillon told CNBC in December. If this issue isn’t addressed, “prices will be higher, and/or stores will close,” McMillon warned.

Follow our store closures blog for news and updates…

More on CVS closures

The Mobile, Alabama, store joins a growing list of CVS locations permanently shuttering.

The chain closed three locations in March and two more in April.

“It’s stressful for a lot of patients. The thought of switching pharmacies can be very daunting, especially when you have patients that have a lot of medication,” Sarah Walton, the company’s director of pharmacy operations, told WNYT as the company announced a closure in New York earlier this year.

“But we’ve done our best with estimating the number of patients that we think we can be getting with this closing.”

The company revealed plans in January to shutter 300 stores per year – the goal was to close 900 locations by 2026.

There are more than 9,600 CVS locations nationwide.

Pharmacy set to shut down

Customers in Mobile, Alabama, are preparing to lose a CVS location.

In a statement to 15 News, the local NBC affiliate, the company said it is working to help customers find new locations to fill their prescriptions.

“All prescriptions will be transferred to the nearby CVS Pharmacy at 4645 Airport Boulevard to ensure that patients continue to have uninterrupted access to the pharmacy care, programs and services they currently receive from CVS,” the company said.

“Patients can always choose to fill their prescriptions at any CVS Pharmacy, or the pharmacy of their choice, if another is more convenient.”

CVS didn’t specify why the store was closing but pointed to multiple factors leading to closures.

Retailer closes after a six-month run

Furniture retailer Coco Republic opened its doors in San Francisco’s Union Square with high hopes in the fall of 2022.

But now the chain is saying goodbye to its new shoppers, announcing the store will be completely shut down by the end of July — or whenever its inventory is completely sold out.

The closure is just one of many as downtown San Francisco continues to fare poorly in its ability to retain retailers over the past several months.

As crime picked up in the area, other stores such as Nordstrom, Whole Foods, and Office Depot also announced their departure from the area, partly attributed to high theft and crime as well as low foot traffic.

“It was a difficult decision and one that was not taken lightly,” a company spokesperson told SFGate.

7/11 rival closes its doors

Health Beat Natural Foods, which rivals convenience store chan 7-Eleven, is shutting down in Johnson City, New York.

This is because the owner of the store, Michele Moelder, is retiring.

She said in a Facebook post: “Thank you so much for 40 years of support! I’m onto the next chapter of life!”

“My goal when I opened was to educate and help people enjoy a healthier life by providing healthier food – vitamins and guidance! Continue on – please keep in touch!”

‘Retail apocalypse’

A variety of brick-and-mortar stores have struggled in recent years due to the rise of online sales.

This has been a leading cause of store closures in general.

Some have dubbed this trend as the retail apocalypse.

In particular, it has affected many stores that have a big presence in the malls including Macy’s, which has announced plans to close more than 100 locations by the end of this year.

And Foot Locker announced it would be shutting down 400 “underperforming” locations, all of which are mall-based stores

Dollar General rival closes

Dollar Tree at 1099 Route 46 in the Troy-Hills shopping center in New Jersey has closed.

A picture of a sign taken by local news outlet Parsippany Focus read: “This location has been permanently closed. Thank you to our customers.”

Another photo on the store that suddenly closed shows that the sign and facade have been removed.

The exact reason for and when exactly it closed is unclear.

But Dollar Tree is encouraging customers to shop at other local stores including one at 1440 US-46 in Parsippany and another at 461 US-46 in Fairfield.

Other retailers leaving San Francisco

Williams-Sonoma joins a long list of companies vacating their San Francisco dwellings.

Coco Republic, Nordstrom, and Whole Foods Market all announced their departure from the California city.

None of the companies have pointed directly to a rise in theft as the main cause of their departure.

Workers and police data suggests that theft has been a big reason for the exits.

“We invested extraordinary time and capital in our initial US flagship store in Union Square,” Coco Republic’s creative director and founder, Anthony Spon-Smith, said in a statement.

“But, ultimately, the safety and well-being of our customers and employees is our highest priority.”

Iconic kitchenware store shuts down

The popular kitchenware store Williams-Sonoma has been the only location in downtown San Francisco.

The company, well known for its gourmet-quality cookware, is closing after 30 years in the bay area city.

The four-floor, nearly 20,000-square-foot location, has been a Williams-Sonoma since 1993.

The store’s top floor featured a full-working kitchen.

Williams-Sonoma contracted professional chefs to teach cooking classes in the custom kitchen.

According to The San Francisco Standard, employees at the kitchenware brand said the location is expected to turn into a Chanel store.

Hooters rival closes doors for good

The Buffalo Wild Wings bar in northeast Columbia abruptly closed its doors just one week after announcing several other closures.

Last week a spokesperson for the chicken wing chain told CTV News Toronto that the “difficult decision” was made to close “a few” of its locations in Ontario.

The spokesperson did not specify the reasoning behind the closures, but said it “routinely evaluates locations to serve out guests best.”

Those that were axed included bars in Oakville, London, Ajax, Stoney Creek, and Vaughan.

Retailers who filed for bankruptcy: JCPenney

The popular department store declared bankruptcy in May 2020 and announced it would close over 800 stores.

Unfortunately, the company had acquired $4.5billion in net losses since 2010.

Only 670 JCPenney locations exist today, and more stores are slated to close this spring, including those in Oswego, New York, and Elkhart, Indiana.

Simon Property Group and Brookfield Property Group have agreed to acquire the chain for $1.75billion.

Retailers who filed for bankruptcy: Party City

Party supply store Party City may have flourished pre-pandemic, but the coronavirus outbreak put a hit on both in-person events and the store’s financial performance.

Since filing for bankruptcy, the store has placed 12 locations up for auction so far.

Under a $150 bankruptcy loan, the chain said it will continue operating while restructuring its debt load.

In September 2022, Party City held $1.7billion in debt but was working to achieve a smaller and more successful fleet of stores.

Burger King closures: Michigan

EYM King of Michigan stated in a WARN notice it would also be closing 26 Burger King restaurants in Michigan in April.

The locations include:

• Dearborn Heights: 20401 W. Warren (16)
• Detroit: 2155 Gratiot Ave. (8)
• Detroit: 9871 Livernois (13)
• Detroit: 8201 Woodward Ave. (14)
• Detroit: 18021 Kelly Rd. (20)
• Detroit: 20200 Grand River Ave. (22)
• Detroit: 13600 W. McNichols Rd. (22)
• Detroit: 15500 W. Seven Mile (21)
• Detroit: 20240 Plymouth Rd. (25)
• Detroit: 12661 Mack Ave. (11)
• Detroit: 9239 Gratiot Ave. (9)
• Detroit: 17440 E. Warren (30)
• Detroit: 16245 Livernois Ave. (14)
• Ecorse: 3863 W. Jefferson Ave. (11)
• Ferndale: 10336 W. 8 Mile Rd. (26)
• Flint: 3625 South Dort Hwy. (25)
• Flint: 3801 Clio Rd. (18)
• Highland Park: 13324 Woodward Ave. (13)
• Livonia: 28203 Plymouth Rd. (10)
• Livonia: 34835 Plymouth Ave. (19)
• Royal Oak: 31456 Woodward Ave. (17)
• Southfield: 23660 Telegraph Rd. (19)
• Southfield: 30711 Southfield Rd. (7)
• Walled Lake: 1113 E. West Maple Rd. (8)
• Warren: 2411 E. 8 Mile Rd. (13)
• Whitmore Lake: 9774 E. M-36 (13)

Burger King closures: Utah

Utah is closing nine stores as Burger King plans to close 400 locations this year, they include:

• 171 East Gateway Dr, Heber
• 7810 South 1300 E, Sandy
• 10235 South State Street, Sandy
• 729 North Main St, Clearfield
• 1466 East 3500 North, Lehi
• 119 East Crossroads Blvd, Saratoga Springs
• 147 East Bangerter Highway, Draper
• 5390 South 1900 West, Roy
• 1660 West North Temple St, Salt Lake City

Burger King closures: Kansas, Nebraska, North Dakota

The popular fast-food chain plans to close 5 locations throughout Kansas, Nebraska, and North Dakota.

The locations closing in Kansas include:

• 2201 East Kansas Ave, McPherson

The locations closing in Nebraska include:

• 3627 South Lincoln Avenue, York
• 2504 O St, Lincoln
• 4230 North 27th Street, Lincoln

The locations closing in North Dakota include:

• 3765 Gateway Drive, Grand Forks

Burger King closures: Montana

Montana has made the list of stores Burger King plans to close this upcoming year, they include:

• 1422 West Main Street, Lewistown
• 520 North 27th St, Billings
• 1211 9th Street West, Columbia Falls

Burger King closures: Minnesota

Burger King has announced that mass closures are being planned to protect the brand from further damage.

Here are the closures set to take place in Minnesota:

• 209 Nokomis Street, Alexandria
• 926 Central Avenue Northeast, East Grand Forks
• 528 Western Ave, Fergus Falls
• 21 Depot Street, Litchfield
• 205 Lake Street, Long Prairie
• 586 Southwest 1st Street, Montevideo
• 516 East Bridge Street, Redwood Falls
• 100 21st Street North, Moorhead
• 1611 US-12, Willmar

Burger King dealing with massive closures this year

Joshua Kobza of Restaurant Brands International, Burger King’s parent company, said that mass closures are being planned to protect the brand from further damage.

The fast-food giant surprised analysts with a 12.3 percent increase in global same-store sales in the first quarter of the year and an 8.7 percent increase in same-store sales in the U.S. after launching a $400million “Reclaim the Flame” campaign.

However, RBI chairman Patrick Doyle said that stores unable to meet sales goals will be asked to shut down in the coming months.

Additional Starbucks closures

This year, in total, Starbucks has permanently closed three locations in DuPage, Illinois, Detroit, Michigan, and Fresno, California.

Meanwhile, Starbucks has targeted other union stores too.

This includes another in Ithaca on College Avenue, which shuttered in June 2022.

Additionally, Starbucks shut down a union store in Boston’s Cleveland Circle. Massachusetts.

The company said it would close in March temporarily due to “plumbing issues.

Starbucks to close locations next week

The coffee chain is planning to close its remaining locations in Ithaca, New York on Friday, May 26.

The stores affected are on East Seneca Street and South Meadow Street.

While Starbucks has denied this was the case for the closure, these locations all voted to unionize.

The company told The U.S. Sun that it is a part of the closures are a part of its so-called Reinvention Plan, which involves transforming its store portfolio.

“We’ve gone to extraordinary efforts to staff, hire and support these stores so that our partners and customers are able to have the Starbucks experience they deserve,” Starbucks said.

Nike rival closes down after more than 40 years of business

SMS Sportsworld, which has been located in South Carolina’s Orangeburg Mall Circle for more than 40 years, plans to shutter forever following the sale of all of its merchandise.

The men who founded the sports equipment retailer 41 years ago, Dick Sheridan, Melicue Metts, and Richard Salley named it SMS after their own last names, The Times and Democrat reported.

Bobby Sheridan, Dick Sheridan’s son, is handling the store’s closeout as both Metts and Salley got out of the business over a decade ago, leaving Sheridan as the sole owner.

“My father, Mr. Metts, and Mr. Salley thank you for half a century of shopping here,” Bobby said.

He added: “We wish we could have stayed longer but it is time to go.”

Target closes struggling stores

Target announced it would be closing down four stores that couldn’t keep up with the chain’s financial expectations.

The areas affected include:

Bed Bath & Beyond closing its doors for good

Company leaders at Bed Bath & Beyond also announced the home goods giant is closing all 360 stores after filing for bankruptcy in April.

In addition, all the company’s 120 buybuyBABY locations will be going under as well.

Up to 30,000 jobs could be lost due to the store closures.

Tuesday Morning having struggles

With consumer spending being cramped by high inflation, many other brick-and-mortar shops are feeling the pressure.

Home goods store Tuesday Morning filed for bankruptcy in February and shortly after announced the closure of half of its retail locations.

At least 860 stores have reported their upcoming closures in 2023.

Stores in states including but not limited to California, Florida, Georgia, Maryland, Nevada, and Nebraska will be shuttering this year.

Best Buy cuts down on employees

After closing multiple locations, Best Buy has also released thousands of employees.

Overall, Best Buy cut down its employee base in the US and Canada from 125,000 in early 2020 to just 90,000 at the start of the year.

Best Buy is leaning into its digital growth as e-commerce sales now make up 33 percent of its revenue in the United States, up from just 19 percent three years ago.

Best Buy closings revealed

Best Buy has decided to close multiple stores in different locations after the company predicted overall sales to fall this year during its prior earnings call.

The shuttered stores include the following:

1. Farragut, Tennessee
2. Hixson, Tennessee
3. St. Joseph, Missouri
4. Two stores in the Minneapolis-St. Paul area of Minnesota
5. Shakopee, Minnesota
6. Blaine, Minnesota
7. Temecula, California
8. Pflugerville, Texas
9. Algonquin, Illinois

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