It’s a weird time to be a shopper. Honestly, if you walked into a mall ten years ago, you’d recognize almost everything. Today? Not so much. We’re seeing a massive "Retail Reset" that’s basically gutting the middle class of the shopping world.
Some of these brands are household names. Others are the kind of places you only visit when you need a very specific lightbulb or a last-minute birthday card. But the question of what retailers are going out of business isn't just about empty storefronts—it's about a fundamental shift in how we spend our money. High interest rates and the "Temu effect" have created a perfect storm.
The Big Names Closing Doors in 2026
If you’ve noticed your local Walgreens looking a little sparse, you’re not imagining it. They’re in the middle of a massive pullback. We are talking about 1,200 stores closing over a three-year window, with 500 of those slated to vanish by the end of fiscal 2025 and into 2026. CEO Tim Wentworth has been pretty blunt about it: about 25% of their stores aren't profitable. If a store isn't pulling its weight, it's gone.
Then there’s Macy’s. They’ve been the anchor of the American mall for decades, but the "Bold New Chapter" strategy is effectively slimming them down to a shell of their former selves. They are on track to close 150 underperforming stores by the end of 2026. Just this January, they flagged 14 more locations for the chopping block across states like New York, California, and Texas.
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- Big Lots: This one is a bit of a rollercoaster. They filed for bankruptcy in late 2024 and initially looked like they were toast. However, Variety Wholesalers stepped in to save about 200 locations. The rest? Gone. If you have a Big Lots nearby, check if it's one of the "reborn" stores or one currently holding a liquidation sale.
- 7-Eleven: Even the convenience king isn't safe. They are shuttering over 400 underperforming locations across North America. Why? Mostly because inflation has hit low-income shoppers hard, and people just aren't grabbing that extra Slim Jim or coffee like they used to.
- Express: After filing for Chapter 11, nearly 100 stores were cut. If you’re looking for a suit or a "going out" shirt, your local mall might have a giant plywood wall where Express used to be.
Why the "Retail Apocalypse" Refuses to Die
You’d think after the 2020 chaos, things would have leveled out. Nope.
Costs are up. Labor is expensive. Retailers are stuck in this brutal cycle where they have to raise prices to cover their own bills, but as soon as they do, the customers bolt to Amazon or Walmart. It’s a race to the bottom that many mid-tier brands just can't win.
Take LL Flooring (the old Lumber Liquidators). They almost disappeared entirely last year. It took a last-minute rescue by their original founder, Tom Sullivan, to keep about 219 stores open. The other half of the company? Liquidated. Sold off for parts. It's a miracle they’re still around in any form, honestly.
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The Pharmacy Crisis
Walgreens isn’t alone in the "pharmacy desert" creation business. CVS has been quietly trimming hundreds of stores since 2021, and Rite Aid... well, Rite Aid is a mess. They filed for bankruptcy (again) and are closing basically everything that isn't nailed down.
If you live in a rural area or a city center, you might find yourself driving ten miles just to pick up a prescription. It’s a genuine problem that goes beyond just "business."
Is Anyone Actually Winning?
Believe it or not, yes.
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While we ask what retailers are going out of business, we should also look at who is moving into those empty shells. Tractor Supply just opened its 2,400th store. Aldi is expanding like crazy. TJ Maxx and Marshalls are doing just fine because people still love the "treasure hunt" of finding a $50 candle for $12.
Even TGI Fridays, which went through a brutal bankruptcy and closed half its U.S. locations, is trying to pivot. They’re looking at smaller, "food-forward" spots in airports and hotels rather than the massive suburban temples of potato skins they used to run.
What to Watch For
- Liquidation Sales: If a store near you announces it’s closing, the "everything must go" sales usually start 8-12 weeks before the final day.
- Gift Cards: If you have a gift card for a struggling retailer (looking at you, Joann Fabrics or Kohl's), use it now. Once a company hits a certain stage of bankruptcy, those cards can become worthless pieces of plastic overnight.
- Return Policies: Closing stores often switch to "All Sales Final" immediately. Don't buy that blender if you aren't 100% sure it works.
Actionable Steps for the Modern Shopper
Keep an eye on the news for your specific zip code. Retailers rarely close every store at once; it’s a slow, painful roll-out.
- Audit your wallet: Check for gift cards to Macy's, Walgreens, or any mall-based clothing brand.
- Switch your prescriptions: If your local pharmacy is on a closure list, don't wait for the doors to lock. Transfer your files to a grocery store pharmacy or a mail-order service now to avoid a headache later.
- Support local: The big guys are struggling, but small boutiques are often more agile. Plus, they actually appreciate your business.
The retail landscape of 2026 is going to look a lot leaner. It’s less about having a store on every corner and more about being the last one standing in a very crowded, very expensive room.
Next Steps: You should check the official store locator for any of the brands mentioned above to see if your local branch is on the 2026 closure list. Most companies update these lists monthly as lease negotiations fall through.