These national and regional retailers went out of business in 2025
CBS News • • business
Key Points:
- In 2025, over 8,100 stores closed across the U.S., marking a 12% increase from 2024, driven by economic uncertainty and challenges facing brick-and-mortar retailers.
- Major retailers that shuttered include Bargain Hunt, Forever 21, Joann Fabrics, Liberated Brands, Party City, and Rite Aid, many citing bankruptcy, competition, and changing market conditions.
- Forever 21 attributed its U.S. shutdown to intense competition from foreign fast-fashion companies exploiting pricing advantages under the de minimis exemption.
- Rite Aid closed all locations after filing for bankruptcy twice, struggling with sluggish sales, high legal costs related to opioid lawsuits, and government accusations of unlawful prescription practices.
