Is Your Favorite Retail Stores Going Out Of Business In 2023?

Retail stores have been facing hardship in the past recent years. When the pandemic hits, many people say that their business can never go back to normal as before. The number of going out of business retail stores is increasing every day. Here’s the list of the chain that has chosen to close most of its stores.

Is Walmart going out of business?

Walmart has everything you need, all in one place, and all for prices that you just couldn’t beat. However, when the pandemic hits, Walmart has closed 22 stores across 14 U.S states and Canada in 2020.
Most of these stores are in urban areas. Walmart representatives confirmed that they want to focus on Walmart Neighborhood Markets which is about one-fifth the size and focus on selling groceries.

In 2020, Walmart has closed 22 stores across 14 U.S. states.

>>> Check out Walmart’s hours of operation and holiday schedule in 2023

You can technically say that Walmart is not going out of business. Walmart even offers exclusive Walmart.com discount codes for online customers amid the pandemic. However, some of Walmart subsidiaries, such as Sam’s Club and Jet.com have been shutting down most of their stores.

• Sam’s Club has closed 63 stores, 12 of which are expected to be converted into fulfillment centers. This makes Sam’s Club total locations in the U.S.A decreased to 597.
• Jet.com is an online marketplace owned by Walmart. Jet.com has its own fulfillment center. But in May 2020, Walmart announced to shut down Jet.com to shift its online focus to Walmart.com

Shop Online With Walmart Discounts

Is Kohl’s going out of business?

Kohl’s CEO Michelle Gass herself said that they were dealing with hard reality when the pandemic hit. In March 2020, Kohl’s temporarily closed all of its more than 1,100 retail stores nationwide and furlough 85,000 associates.

In March 2020, Kohl’s temporarily closed all of its more than 1,100 retail stores nationwide.

However, in May, Kohl’s announced they would reopen various stores in different locations with reduced opening hours. During that time, customers will still be able through their website Kohls.com and app. To provide clients better shopping experiences, Kohl’s also offers in-store pickup and Store DriveUp service.
>>> Here's Kohl’s hours of operation and holiday schedule in 2023

JCPenney going out of business sale in 2023

JCPenney has been around since 1902, but it soon became a victim of the COVID-19 crisis, declaring bankruptcy. Even though it recently celebrated its 118th birthday, the department store chain is struggling to keep its door open.

JCPenney has soon become a victim of COVID-19.

The company said that it will continue operating throughout the bankruptcy, but expects to close about 30% of its 800+ U.S stores. In fact, 192 JCPenney locations have closed up till 2020. And 242 stores of the retailer’s 846 stores are expected to close in 2023. Stores expected to close will hold closing sales for 10 to 16 weeks before shutting their doors for good. There are also a lot of JCPenney coupons, promo codes, and deals for online shoppers at FindCouponHere.com.

Is Bed Bath & Beyond going out of business?

Bed Bath & Beyond is an American chain of domestic merchandise retail stores that was founded in 1971. It has operated many stores in the United States, Canada, and Mexico. Even though the retailer announced it would permanently close an estimated 200 stores, Bed Bath & Beyond hasn’t gone out of business.

Bed, Bath and Beyond hasn't gone out of business yet even though it has closed over 200 stores.

While many stores were temporarily closed during the pandemic, the company shifted its focus to its online store and curbside pickup in many locations. They also expanded their pickup in-store options in over half of their locations.

Is Pier 1 going out of business?

Pier 1 is a retailer and home store chain specializing in imported home furnishings, decor, and accessories. Pier 1 has been around since 1962 and it has over 1000 stores throughout the United States and Canada. Pier 1 didn’t plan to go out of business in 2020. But in May 2020, the company announced it was asking the bankruptcy court to close all stores, due to the COVID-19 pandemic.

Pier 1 filed for bankruptcy in May 2020.

However, in July 2020, the new Pier 1 came back and operated as an E-commerce business after Retail E-Commerce Ventures bought the right to Pier 1 and planned to revive the brand. Their online store offers furniture, décor, lighting and candles, outdoor items, holiday and seasonal items. They also give hundreds of discount codes for their digital platform, you can check out those Pier 1 discount codes at FindCouponHere. 

Is J.Crew going out of business?

J.Crew is an American multi-channel retailer that offers an assortment of women’s, men’s, children’s apparel, and accessories. Up to 2018, the company operated 506 retail stores (including all stores, factory, and outlet locations). In May 2020, J.Crew became the first American retailer to file bankruptcy amid the coronavirus pandemic. However, a bankruptcy filing doesn’t mean the company will go out of business.

J.Crew became the first American retailer to file bankruptcy in May 2020. 

What will Chuck E. Cheese's look like after going out of business?

Chuck E. Cheese's is an American-based chain of family entertainment center restaurants. Their restaurants serve mainly pizza along with other menu items, and feature arcade games, amusement rides, and animatronic displays. As of June 2020, Chuck E. Cheese's has 541 venues in the United States, Canada, Guam, and Puerto Rico. Chuck E. Cheese’s parent company was CEC Entertainment, which also owns the Peter Piper Pizza chains. In June 2020, the company filed for Chapter 11 bankruptcy and announced that they would permanently close 47 Chuck E. Cheese stores because they have been hit hard by the lockdowns.

Your favorite Chuck E. Cheese's will be closed amid the pandemic lockdowns.

Is Lord & Taylor going out of business?

Lord & Taylor was the oldest department store chain in the United States. Founded in 1826, Lord & Taylor had been around for nearly 200 years. The retailer was acquired by Hudson’s Bay Company in 2021 and then sold to Le Tote, Inc. in 2019.

Lord & Taylor was struggling even before the pandemic hit. 

Since more people tend to shop online and in other stores, Lord & Taylor was shrinking even before the pandemic. After filing for Chapter 11 bankruptcy in early August 2020, the company would close all 38 of its remaining stores and its website although it previously planned to keep 14 stores open.

Is Five Guys going out of business?

Five Guys is an American-based restaurant chain focused on hamburgers, hot dogs, and French fries. The first Five Guys store was opened in 1986 and as of 2016, it had over 1,500 locations open worldwide.

Five Guys has over 1,500 locations open worldwide.

Ever since the pandemic hit, it’s been a worrying time for the food service industry. There have been rumors going around posting about Five Guys going out of business in 2023. Even though Five Guys has sold 27 of its locations in Texas, there is no official announcement that they will close their franchise in 2023 - or any time soon.

>>> Want to know which jewelry stores are going out of business? CLICK HERE!

Not only retailers but also everyone across the board have suffered greatly due to COVID-19. That made hundreds of well-known names file for Chapter 11 bankruptcy. To keep yourself updated with the list of retail store bankruptcies and closing stores, you can sign up for your email here. We’ll make sure that you will receive promotions and the latest coupons direct from our team as well.