US Retailers Closing Stores in 2023
In 2023, US retailers closed almost 5,500 stores, with major brands like Bed Bath & Beyond, Walgreens, and Rite Aid leading the closures. The home and office sector was hit hardest, accounting for over 30% of closures. Several retailers went bankrupt and liquidated stores due to poor sales and escalating theft. Despite high closures, there were also many store openings in the same year.