America


45,000 Retail Chain Stores Projected to Close


T


It’s survival of the fittest as inflation, higher interest rates, and crime force shoppers online for deals. BY ANDREW HENRY


he trump administration faces a grim reality as it works to ramp up the economy: a major wave of retail bankruptcies, with thousands of chain stores closing their doors for good.


According to retail analyst Coresight Research, over 7,000


retail locations closed last year — wiping out tens of thou- sands of jobs in the process. Among the major chains taking a big hit: Family Dollar store announced it was closing 677 locations. Conn’s HomePlus closed 553 stores. Foot Locker plans to shut the doors at 400 locations


by 2026. Even venerable department stores like Macy’s and Kohl’s


are vulnerable, with 150 and 27 store closures, respectively. Several major retail chains aren’t just closing select loca-


tions. They are turning their lights off forever. Analysts report retail bankruptcies nearly doubled


last year. Party City, a chain that employed over 16,000 workers as


recently as 2021, announced in December it is going out of business due to a debt load exceeding $700 million. American Freight Appliances and Furniture reported it’s


closing all 328 of its stores. And the overstock outlet Big Lots closed more than 400 stores in 2024. So why are retail outlets that survived the Great Reces-


sion and the coronavirus pandemic suddenly closing stores nationwide? Economists and business analysts point to several factors.


The sharp inflation during the first two years of the Biden administration shifted the buying patterns of stressed-out, middle-class consumers.


Pharmacy Deserts: Drug Stores Squeezed Out


O 16 NEWSMAX | MARCH 2025


ne retail sector’s recent stumbles have


drawn special attention — pharmacies. CVS Health closed 586 U.S.


stores in 2024. Rite Aid pulled the plug on


408 store locations. Walgreens is turning out the lights on over 500 underperforming stores and may ultimately close up to


PARTY CITY/JOHNNY LOUIS/GETTY IMAGES / BIG LOTS/HOWARD SCHNAPP/NEWSDAY RM VIA GETTY IMAGES / AMERICAN FREIGHT APPLIANCES AND FURNITURE©REUTERS


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